Companies Illinois Tool Works Inc
Illinois Tool Works (ITW): executive pay, fiscal 2025
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CEO vs. named peers24th pct.Of 17 peer CEOs
CEO pay, last three years
- $6,898,841FY2023
- $10,932,645FY2024
- $15,211,011FY2025
CEO total pay was $15,211,011 in fiscal 2025, up from $10,932,645 in fiscal 2024.
FY2025: salary $1,337,271 · bonus $0 · stock awards $5,249,957 · option awards $5,249,996
Executives and directors
Christopher A. O'Herlihy · CEOAxel R.J. Beck · EVPMary K. Lawler · ExecutiveMichael M. Larsen · CFOT. Kenneth Escoe · EVPDaniel J. Brutto · Independent DirectorDarrell L. Ford · Independent DirectorDavid B. Smith Jr · Independent DirectorE. Scott Santi · Chair of the BoardJaime Irick · Independent DirectorJames W. Griffith · Independent DirectorJay L. Henderson · Independent DirectorKelly J. Grier · Independent DirectorPamela B. Strobel · Independent DirectorRichard H. Lenny · Lead Independent DirectorSusan Crown · Independent Director
Frequently asked questions
Who was the highest-paid executive at Illinois Tool Works Inc in fiscal 2025?
As disclosed, Christopher A. O'Herlihy (President & Chief Executive Officer) was the highest-paid executive at Illinois Tool Works Inc in fiscal 2025, with total compensation of $15,211,011.
How does Illinois Tool Works Inc's chief executive pay compare to its disclosed peer group?
As disclosed, Christopher A. O'Herlihy's total compensation ranked at the 24th percentile of Illinois Tool Works Inc's disclosed peer group.
What is Illinois Tool Works Inc's CEO-to-median employee pay ratio?
As disclosed, Illinois Tool Works Inc's CEO-to-median employee pay ratio was 208:1.
How did shareholders vote on Illinois Tool Works Inc's executive compensation?
As disclosed, 94.94% of shareholders supported Illinois Tool Works Inc's executive compensation in the latest say-on-pay vote.
How much does Illinois Tool Works Inc spend in total on board compensation for fiscal 2025?
As disclosed, Illinois Tool Works Inc reported total board compensation of $4,095,032 for fiscal 2025.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Christopher A. O'Herlihy | $1,337,271 | $0 | $5,249,957 | $5,249,996 | $2,702,389 | $255,793 | $415,605 | $15,211,011 |
| President & Chief Executive Officer | ||||||||
| Michael M. Larsen | 977,860 | 0 | 2,074,946 | 2,074,967 | 1,994,062 | 0 | 238,666 | 7,360,501 |
| Senior Vice President and Chief Financial Officer | ||||||||
| Mary K. Lawler | 671,685 | 0 | 899,771 | 899,985 | 893,373 | 0 | 146,940 | 3,511,754 |
| Senior Vice President and Chief Human Resources Officer | ||||||||
| Axel R.J. Beck | 665,769 | 0 | 774,846 | 774,973 | 924,742 | 53,263 | 32,716 | 3,226,309 |
| Executive Vice President | ||||||||
| T. Kenneth Escoe | 567,570 | 0 | 749,810 | 749,999 | 808,698 | 0 | 151,652 | 3,027,729 |
| Executive Vice President | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Christopher A. O'Herlihy | $15,211,011 | $10,932,645 | $6,898,841 | ↑ +4,278,366 |
| Michael M. Larsen | 7,360,501 | 5,975,153 | 6,223,293 | ↑ +1,385,348 |
| Mary K. Lawler | 3,511,754 | 2,876,526 | 3,026,251 | ↑ +635,228 |
| Axel R.J. Beck | 3,226,309 | 2,594,714 | 2,861,503 | ↑ +631,595 |
| T. Kenneth Escoe | 3,027,729 | 2,689,187 | — | ↑ +338,542 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners LLC |
| Clawback policy | — |
| Anti-hedging | — |
| Anti-pledging | — |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Michael M. Larsen | OPTION | 2025-02-14 | — | — | 28,831 | — | $2,074,967 |
| Axel R.J. Beck | OPTION | 2025-02-14 | — | — | 10,768 | — | 774,973 |
| T. Kenneth Escoe | OPTION | 2025-02-14 | — | — | 10,421 | — | 749,999 |
| Christopher A. O'Herlihy | OPTION | 2025-02-14 | — | — | 72,947 | — | 5,249,996 |
| Christopher A. O'Herlihy | PSU | 2025-02-14 | 10,170 | 20,340 | — | 40,680 | 5,249,957 |
| Mary K. Lawler | OPTION | 2025-02-14 | — | — | 12,505 | — | 899,985 |
| Christopher A. O'Herlihy | Options/SARs | 2025-02-14 | — | — | 72,947 | — | 5,249,996 |
| T. Kenneth Escoe | PSU | 2025-02-14 | 1,453 | 2,905 | — | 5,810 | 749,810 |
| Michael M. Larsen | PSU | 2025-02-14 | 4,020 | 8,039 | — | 16,078 | 2,074,946 |
| Axel R.J. Beck | PSU | 2025-02-14 | 1,501 | 3,002 | — | 6,004 | 774,846 |
| Christopher A. O'Herlihy | PSU | 2025-02-14 | 10,170 | 20,340 | — | 40,680 | 5,249,957 |
| Mary K. Lawler | PSU | 2025-02-14 | 1,743 | 3,486 | — | 6,972 | 899,771 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Michael M. Larsen | $0 | $2,074,946 | $2,074,967 | 50.0% |
| Axel R.J. Beck | 0 | 774,846 | 774,973 | 50.0% |
| T. Kenneth Escoe | 0 | 749,810 | 749,999 | 50.0% |
| Christopher A. O'Herlihy | 0 | 10,499,914 | 5,249,996 | 66.7% |
| Mary K. Lawler | 0 | 899,771 | 899,985 | 50.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| T. Kenneth Escoe | PSU | 1,245 | — | $306,534 |
| T. Kenneth Escoe | PSU | 1,273 | — | 313,626 |
| Axel R.J. Beck | PSU | 1,478 | — | 363,970 |
| Axel R.J. Beck | PSU | 1,585 | — | 390,325 |
| Mary K. Lawler | PSU | 1,681 | — | 414,057 |
| Mary K. Lawler | PSU | 1,811 | — | 446,011 |
| T. Kenneth Escoe | Option | 2,907 | 217.72 | — |
| T. Kenneth Escoe | PSU | 2,960 | — | 729,155 |
| Axel R.J. Beck | Option | 3,046 | 217.72 | — |
| Axel R.J. Beck | PSU | 3,059 | — | 753,502 |
| Mary K. Lawler | PSU | 3,553 | — | 874,986 |
| Michael M. Larsen | PSU | 3,975 | — | 979,148 |
| T. Kenneth Escoe | Option | 4,095 | 235.52 | — |
| Mary K. Lawler | Option | 4,153 | 217.72 | — |
| Michael M. Larsen | PSU | 4,245 | — | 1,045,420 |
| Christopher A. O'Herlihy | PSU | 4,641 | — | 1,143,133 |
| Axel R.J. Beck | Option | 5,211 | 235.52 | — |
| Mary K. Lawler | Option | 5,956 | 235.52 | — |
| T. Kenneth Escoe | Option | 6,795 | 255.75 | — |
| Axel R.J. Beck | Option | 7,883 | 255.75 | — |
| Michael M. Larsen | PSU | 8,192 | — | 2,017,790 |
| Christopher A. O'Herlihy | PSU | 8,920 | — | 2,196,919 |
| Mary K. Lawler | Option | 8,970 | 255.75 | — |
| Michael M. Larsen | Option | 9,690 | 217.72 | — |
| T. Kenneth Escoe | Option | 10,421 | 258.11 | — |
| Christopher A. O'Herlihy | Option | 10,659 | 217.72 | — |
| Axel R.J. Beck | Option | 10,768 | 258.11 | — |
| Mary K. Lawler | Option | 12,505 | 258.11 | — |
| Michael M. Larsen | Option | 13,959 | 235.52 | — |
| Christopher A. O'Herlihy | Option | 15,262 | 235.52 | — |
| Christopher A. O'Herlihy | PSU | 20,728 | — | 5,105,341 |
| Michael M. Larsen | Option | 21,202 | 255.75 | — |
| Michael M. Larsen | Option | 28,831 | 258.11 | — |
| Christopher A. O'Herlihy | Option | 47,568 | 255.75 | — |
| Christopher A. O'Herlihy | Option | 72,947 | 258.11 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| E. Scott SantiNot independent · Board Chair · Executive · Partial-year service | $140,000 | $434,722 | — | — | $15,000 | $589,722 |
| Richard H. LennyIndependent · Lead Independent Director · Compensation (Chair) · Nominating/Governance · Executive | 210,000 | 184,890 | — | — | 15,000 | 409,890 |
| Pamela B. StrobelIndependent · Compensation · Nominating/Governance (Chair) · Executive | 160,000 | 184,890 | — | — | 16,410 | 361,300 |
| David B. Smith JrIndependent · Audit · Finance · Executive | 155,000 | 184,890 | — | — | 15,000 | 354,890 |
| Jay L. HendersonIndependent · Audit · Finance · Executive | 165,000 | 184,890 | — | — | 0 | 349,890 |
| Susan CrownIndependent · Compensation · Nominating/Governance · Executive (Chair) | 145,000 | 184,890 | — | — | 15,000 | 344,890 |
| Kelly J. GrierIndependent · Audit · Finance | 140,000 | 184,890 | — | — | 15,000 | 339,890 |
| Jaime IrickIndependent · Audit | 140,000 | 184,890 | — | — | 15,000 | 339,890 |
| Daniel J. BruttoIndependent | 140,000 | 184,890 | — | — | 15,000 | 339,890 |
| James W. GriffithIndependent · Compensation · Nominating/Governance · Executive | 140,000 | 184,890 | — | — | 15,000 | 339,890 |
| Darrell L. FordIndependent · Compensation · Nominating/Governance | 140,000 | 184,890 | — | — | 0 | 324,890 |
| Jennifer F. ScanlonIndependent · Partial-year service · Newly elected | — | — | — | — | — | — |
Board fee structure and ownership guideline
| Annual cash retainer | $140,000 |
|---|---|
| Annual equity retainer | $185,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 25,000 / 20,000 |
| Stock ownership guideline | $5 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,675,000 |
| Equity awards (grant-date value) | $2,283,622 |
| All other compensation | $136,410 |
| Total cost of the board | $4,095,032 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Illinois Tool Works as a peer
Companies that benchmark against ITW
56 companies name ITW as a compensation peer
- 3M COMMMFY2025
- AGCO CORP /DEAGCOFY2025
- Air Products & Chemicals, Inc.APDFY2025
- AMETEK INC/AMEFY2025
- Aptiv PLCAPTVFY2025
- Baker Hughes CoBKRFY2025
- BORGWARNER INCBWAFY2025
- CARRIER GLOBAL CorpCARRFY2025
- CLEVELAND-CLIFFS INC.CLFFY2025
- CNH Industrial N.V.CNHFY2025
- COHERENT CORP.COHFY2025
- CORNING INC /NYGLWFY2025
- CSX CORPCSXFY2025
- CUMMINS INCCMIFY2025
- DANA IncDANFY2025
- DOVER CorpDOVFY2025
- DuPont de Nemours, Inc.DDFY2025
- Eaton Corp plcETNFY2025
- ECOLAB INC.ECLFY2025
- EMERSON ELECTRIC COEMRFY2025
- Fortive CorpFTVFY2025
- FREEPORT-MCMORAN INCFCXFY2025
- HONEYWELL INTERNATIONAL INCHONFY2025
- Howmet Aerospace Inc.HWMFY2025
- HUBBELL INCHUBBFY2025
- Ingersoll Rand Inc.IRFY2025
- L3HARRIS TECHNOLOGIES, INC. /DE/LHXFY2025
- LEAR CORPLEAFY2025
- MARKEL GROUP INC.MKLFY2025
- MASCO CORP /DE/MASFY2025
- Medline Inc.MDLNFY2025
- Motorola Solutions, Inc.MSIFY2025
- NORFOLK SOUTHERN CORPNSCFY2025
- NORTHROP GRUMMAN CORP /DE/NOCFY2025
- NOV Inc.NOVFY2025
- NUCOR CORPNUEFY2025
- OSHKOSH CORPOSKFY2025
- Otis Worldwide CorpOTISFY2025
- Parker-Hannifin CorpPHFY2026
- PPG INDUSTRIES INCPPGFY2025
- QUANTA SERVICES, INC.PWRFY2025
- RELIANCE, INC.RSFY2025
- SEMPRASREFY2025
- STANLEY BLACK & DECKER, INC.SWKFY2025
- STEEL DYNAMICS INCSTLDFY2025
- TE Connectivity plcTELFY2025
- TEXTRON INCTXTFY2025
- Trane Technologies plcTTFY2025
- TransDigm Group INCTDGFY2025
- UNITED RENTALS, INC.URIFY2025
- W.W. GRAINGER, INC.GWWFY2025
- WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPWABFY2025
- WHIRLPOOL CORP /DE/WHRFY2025
- Xylem Inc.XYLFY2025
Each company listed discloses ITW in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ITW in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
ECL Ecolab Inc.GD General Dynamics CorporationHON Honeywell International Inc.CAT Caterpillar Inc.PH Parker-Hannifin CorporationMMM 3M CompanyCMI Cummins Inc.DE Deere & CompanyDOV Dover CorporationETN Eaton Corporation plcEMR Emerson Electric Co.FTV Fortive CorporationJCI Johnson Controls International plcPPG PPG Industries, Inc.ROK Rockwell Automation, Inc.SWK Stanley Black & Decker, Inc.TT Trane Technologies plc
Peer reciprocity
Of the companies Illinois Tool Works Inc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
✓ Ecolab Inc. (ECL)79— General Dynamics Corporation (GD)80✓ Honeywell International Inc. (HON)81— Caterpillar Inc. (CAT)82✓ Parker-Hannifin Corporation (PH)83✓ 3M Company (MMM)84✓ Cummins Inc. (CMI)85— Deere & Company (DE)86✓ Dover Corporation (DOV)87✓ Eaton Corporation plc (ETN)88✓ Emerson Electric Co. (EMR)89✓ Fortive Corporation (FTV)90— Johnson Controls International plc (JCI)91✓ PPG Industries, Inc. (PPG)92— Rockwell Automation, Inc. (ROK)93✓ Stanley Black & Decker, Inc. (SWK)94✓ Trane Technologies plc (TT)95
Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Illinois Tool Works Inc.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Deere & Company | 2025 | John May | $1,694,507 | $13,950,239 | $4,255,133 | $5,450,551 | $27,925,424 |
| 2 | Trane Technologies plc | 2025 | David Regnery | 1,512,500 | 8,900,397 | 5,700,010 | 2,831,173 | 27,262,157 |
| 3 | General Dynamics Corporation | 2025 | Phebe Novakovic | 1,737,500 | 12,539,634 | 5,220,445 | 5,729,000 | 25,924,082 |
| 4 | Parker-Hannifin Corporation | 2026 | Jennifer Parmentier | 1,537,500 | 7,586,898 | 7,841,940 | 4,539,822 | 22,761,169 |
| 5 | Emerson Electric Co. | 2025 | Lal Karsanbhai | 1,537,500 | 15,413,325 | 0 | 3,728,525 | 21,240,262 |
| 6 | 3M Company | 2025 | William Brown | 1,800,000 | 7,753,852 | 7,001,242 | 3,745,322 | 21,005,009 |
| 7 | Honeywell International Inc. | 2025 | Vimal Kapur | 1,600,000 | 10,866,269 | 3,623,914 | 3,516,800 | 20,381,435 |
| 8 | Johnson Controls International plc | 2025 | Joakim Weidemanis | 825,000 | 12,849,088 | 3,749,993 | 2,357,247 | 19,963,827 |
| 9 | Cummins Inc. | 2025 | Jennifer Rumsey | 1,533,750 | 6,429,004 | 0 | 6,975,656 | 19,905,532 |
| 10 | Dover Corporation | 2025 | Richard Tobin | 1,387,385 | 8,040,726 | 6,562,519 | 0 | 18,757,706 |
| 11 | Ecolab Inc. | 2025 | Christophe Beck | 1,390,081 | 7,228,101 | 4,566,916 | 3,383,183 | 17,404,935 |
| 12 | Caterpillar Inc. | 2025 | Joseph Creed | 1,381,892 | 9,538,484 | 3,101,117 | 2,476,800 | 17,008,077 |
| 13 | Rockwell Automation, Inc. | 2025 | Blake Moret | 1,210,456 | 7,700,421 | 3,300,010 | 1,737,610 | 15,401,707 |
| 14 | Illinois Tool Works Inc | 2025 | Christopher A. O'Herlihy | 1,337,271 | 5,249,957 | 5,249,996 | 2,702,389 | 15,211,011 |
| 15 | PPG Industries, Inc. | 2025 | Timothy Knavish | 1,300,000 | 7,333,542 | 3,666,690 | 1,924,000 | 14,885,022 |
| 16 | Fortive Corporation | 2025 | Olumide Soroye | 931,733 | 8,196,125 | 3,706,519 | 1,358,100 | 14,405,012 |
| 17 | Eaton Corporation plc | 2025 | Paulo Ruiz | 1,087,116 | 4,140,314 | 1,384,695 | 1,155,000 | 7,923,677 |
| 18 | Stanley Black & Decker, Inc. | 2025 | Christopher Nelson | 997,462 | 3,964,699 | 1,321,569 | 929,055 | 7,656,246 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Illinois Tool Works Inc | not disclosed | PSU 50 · Options 50 | No | Meridian Compensation Partners LLC |
| 3M Company | 118.9% | PSU 50 · Options 50 | No | FW Cook |
| Caterpillar Inc. | 118% | PSU 50 · RSU 25 · Options 25 | Yes — relative Total Shareholder Return (rTSR) | Meridian Compensation Partners, LLC |
| Cummins Inc. | 90% | PSU 70 · Cash LTI 30 | No | Farient |
| Deere & Company | 160.8% | PSU 50 · RSU 25 · Options 25 | No | Semler Brossy Consulting Group, LLC (current); Pearl Meyer & Partners, LLC (prior year) |
| Dover Corporation | 121.7% | PSU 40 · Options 40 · RSU 20 | Yes — 3-Year relative TSR | Meridian Compensation Partners, LLC |
| Eaton Corporation plc | 70% | PSU 50 · RSU 25 · Option 25 | Yes — Relative TSR | Meridian Compensation Partners |
| Ecolab Inc. | 137% | PSU 60 · Options 40 | Yes — relative TSR | FW Cook |
| Emerson Electric Co. | 141.5% | PSU 55 · RSU 45 | No | Exequity |
| Fortive Corporation | not disclosed | PSU 50 · RSU 25 · Option 25 | Yes — Relative TSR vs. S&P 500 | Pearl Meyer |
| General Dynamics Corporation | 177.0% | PSU 50 · Options 30 · RSU 20 | Yes — rTSR (relative Total Shareholder Return) | Pay Governance, LLC |
| Honeywell International Inc. | 126% | PSU 50 · Options 25 · RSU 25 | Yes — three-year total shareowner return (TSR) relative to the 2025 Compensation Peer Group | not disclosed |
| Johnson Controls International plc | 176.6% | PSU 50 · Option 25 · RSU 25 | Yes — TSR Relative to S&P 500 Industrials | Farient Advisors LLC |
| Parker-Hannifin Corporation | not disclosed | LTIP Awards 50 · Stock Appreciation Rights 50 | No | Mercer Consulting |
| PPG Industries, Inc. | 93% | Option 33 · PRSU 33 · TSR Shares 33 | No | FW Cook |
| Rockwell Automation, Inc. | 95.7% | PSU 40 · Option 30 · RSU 30 | No | Willis Towers Watson |
| Stanley Black & Decker, Inc. | 72.3% | PSU 50 · RSU 25 · Options 25 | Yes — Relative TSR | Pay Governance |
| Trane Technologies plc | 109.21% | PSU 50 · Options 40 · RSU 10 | Yes — Relative TSR | Meridian Compensation Partners, LLC |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-08 | 223,001,149 | 10,219,974 | 1,657,369 | 94.94% | Passed |
| 2025 | 2025-05-02 | 224,310,353 | 11,344,577 | 2,010,213 | 94.38% | Passed |
| 2024 | 2024-05-03 | 227,242,321 | 14,783,908 | 1,804,569 | 93.2% | Passed |
| 2023 | 2023-05-05 | 230,021,632 | 17,142,266 | 761,013 | 92.78% | Passed |
| 2022 | 2022-05-06 | 237,036,874 | 16,701,701 | 821,554 | 93.12% | Passed |
| 2021 | 2021-05-07 | 240,364,642 | 15,718,317 | 1,098,225 | 93.46% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-05-08 | 94.94%a |
| 2025 | 2025-05-02 | 94.38%b |
| 2024 | 2024-05-03 | 93.2%c |
a. Approved under the standard stated in the filing — “The affirmative vote of a majority of the shares present in person or by proxy at the Annual Meeting and entitled to vote will constitute approval by the stockholders.”.
b. Approved under the standard stated in the filing — “An abstention on the other proposals will have the effect of a vote against those proposals.”.
c. Approved under the standard stated in the filing — “As detailed in the advance notice procedures described in our by-laws, for a proposal other than the nomination of a dire Abstentions will have the effect of a vote "against" this proposal.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 208 : 1 |
|---|---|
| CEO total compensation | $15,211,011 |
| Median employee compensation | $73,094 |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Susan Crown | Director | 2026-05-08 | A | 833 | $255 | $212,215 | Common | Form 4 ↗ |
| Pamela B. Strobel | Director | 2026-05-08 | D | 765 | 255 | 194,891 | Common | Form 4 ↗ |
| Jennifer F. Scanlon | Director | 2026-05-08 | A | 846 | 255 | 215,527 | Common | Form 4 ↗ |
| Darrell L. Ford | Director | 2026-05-08 | A | 765 | 255 | 194,891 | Common | Form 4 ↗ |
| James W. Griffith | Director | 2026-05-08 | A | 765 | 255 | 194,891 | Common | Form 4 ↗ |
| Kelly J. Grier | Director | 2026-05-08 | A | 765 | 255 | 194,891 | Common | Form 4 ↗ |
| David B. Smith Jr | Director | 2026-05-08 | A | 917 | 255 | 233,615 | Common | Form 4 ↗ |
| Jay L. Henderson | Director | 2026-05-08 | A | 765 | 255 | 194,891 | Common | Form 4 ↗ |
| Jaime Irick | Director | 2026-05-08 | A | 765 | 255 | 194,891 | Common | Form 4 ↗ |
| Daniel J. Brutto | Director | 2026-05-08 | A | 765 | 255 | 194,891 | Common | Form 4 ↗ |
| Richard H. Lenny | Director | 2026-05-08 | A | 765 | 255 | 194,891 | Common | Form 4 ↗ |
| E. Scott Santi | Director | 2026-05-08 | A | 1,883 | 255 | 479,713 | Common | Form 4 ↗ |
| Jennifer F. Scanlon | Director | 2026-06-02 | A | 806 | 248 | 199,880 | Common, open-market sale | Form 4 ↗ |
| Susan Crown | Director | 2026-08-07 | A | 58 | 297 | 17,206 | Common | Form 4 ↗ |
| E. Scott Santi | Director | 2026-08-07 | A | 117.98 | 297 | 35,000 | Common | Form 4 ↗ |
| David B. Smith Jr | Director | 2026-08-07 | A | 130 | 297 | 38,566 | Common | Form 4 ↗ |
| Jennifer F. Scanlon | Director | 2026-08-07 | A | 117.98 | 297 | 35,000 | Common | Form 4 ↗ |
| Matteo C. Pigozzo | VP & Chief Accounting Officer | 2026-08-13 | D | 277 | 289 | 80,114 | Common | Form 4 ↗ |
| E. Scott Santi | Director | 2026-08-19 | D | 22,471 | 286 | 6,435,020 | Common, open-market sale | Form 4 ↗ |
| E. Scott Santi | Director | 2026-08-19 | D | 1,890 | 289 | 546,569 | Common, open-market sale | Form 4 ↗ |
| E. Scott Santi | Director | 2026-08-19 | D | 8,142 | 287 | 2,339,604 | Common, open-market sale | Form 4 ↗ |
| E. Scott Santi | Director | 2026-08-19 | A | 41,431 | 188 | 7,783,228 | Common | Form 4 ↗ |
| E. Scott Santi | Director | 2026-08-19 | D | 41,431 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| E. Scott Santi | Director | 2026-08-19 | D | 8,928 | 288 | 2,573,228 | Common, open-market sale | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
Sources (95 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Christopher A. O'Herlihy. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table” · page 48. As printed: 15,211,011. View filing ↗
- Section 01, Michael M. Larsen. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table”. As printed: 7,360,501. View filing ↗
- Section 01, Mary K. Lawler. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table”. As printed: 3,511,754. View filing ↗
- Section 01, Axel R.J. Beck. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table”. As printed: 3,226,309. View filing ↗
- Section 01, T. Kenneth Escoe. DEF 14A, filed 2026-03-27. Section “Summary Compensation Table”. As printed: 3,027,729. View filing ↗
- Section 03, Michael M. Larsen OPTION. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Axel R.J. Beck OPTION. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, T. Kenneth Escoe OPTION. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Christopher A. O'Herlihy OPTION. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Christopher A. O'Herlihy PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mary K. Lawler OPTION. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Christopher A. O'Herlihy Options/SARs. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, T. Kenneth Escoe PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Michael M. Larsen PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Axel R.J. Beck PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Christopher A. O'Herlihy PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Mary K. Lawler PSU. DEF 14A, filed 2026-03-27. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-03-27. Section “CEO Pay Ratio”. As printed: 208 : 1. View filing ↗
- Section 08, E. Scott Santi. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 589,722. View filing ↗
- Section 08, Richard H. Lenny. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 409,890. View filing ↗
- Section 08, Pamela B. Strobel. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 361,300. View filing ↗
- Section 08, David B. Smith Jr. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 354,890. View filing ↗
- Section 08, Jay L. Henderson. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 349,890. View filing ↗
- Section 08, Susan Crown. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 344,890. View filing ↗
- Section 08, Kelly J. Grier. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 339,890. View filing ↗
- Section 08, Jaime Irick. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 339,890. View filing ↗
- Section 08, Daniel J. Brutto. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 339,890. View filing ↗
- Section 08, James W. Griffith. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 339,890. View filing ↗
- Section 08, Darrell L. Ford. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: 324,890. View filing ↗
- Section 08, Jennifer F. Scanlon. DEF 14A, filed 2026-03-27. Section “Director Compensation”. As printed: —. View filing ↗
- Section 02, Susan Crown 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Pamela B. Strobel 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jennifer F. Scanlon 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Darrell L. Ford 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, James W. Griffith 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kelly J. Grier 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, David B. Smith Jr 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jay L. Henderson 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jaime Irick 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Daniel J. Brutto 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Richard H. Lenny 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, E. Scott Santi 2026-05-08. Form 4, filed 2026-05-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jennifer F. Scanlon 2026-06-02. Form 4, filed 2026-06-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Susan Crown 2026-08-07. Form 4, filed 2026-08-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, E. Scott Santi 2026-08-07. Form 4, filed 2026-08-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, David B. Smith Jr 2026-08-07. Form 4, filed 2026-08-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jennifer F. Scanlon 2026-08-07. Form 4, filed 2026-08-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Matteo C. Pigozzo 2026-08-13. Form 4, filed 2026-08-17. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, E. Scott Santi 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, E. Scott Santi 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, E. Scott Santi 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, E. Scott Santi 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, E. Scott Santi 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, E. Scott Santi 2026-08-19. Form 4, filed 2026-08-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-12. Item 5.07 · say-on-pay result. As reported: 94.94% (votes for as printed: 223,001,149). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-07. Item 5.07 · say-on-pay result. As reported: 94.38% (votes for as printed: 224,310,353). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-09. Item 5.07 · say-on-pay result. As reported: 93.2% (votes for as printed: 227,242,321). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 1,675,000 + equity 2,283,622 + all other 136,410 = 4,095,032, summed across the director compensation table rows.
- Deere & Company, Section 10b CEO total. DEF 14A, filed 2026-01-14. CEO total compensation as printed in Deere & Company's own proxy. As printed: 27,925,424. View filing ↗
- Trane Technologies plc, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Trane Technologies plc's own proxy. As printed: 27,262,157. View filing ↗
- General Dynamics Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in General Dynamics Corporation's own proxy. As printed: 25,924,082. View filing ↗
- Parker-Hannifin Corporation, Section 10b CEO total. DEF 14A, filed 2026-09-18. CEO total compensation as printed in Parker-Hannifin Corporation's own proxy. As printed: 22,761,169. View filing ↗
- Emerson Electric Co., Section 10b CEO total. DEF 14A, filed 2025-12-12. CEO total compensation as printed in Emerson Electric Co.'s own proxy. As printed: 21,240,262. View filing ↗
- 3M Company, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in 3M Company's own proxy. As printed: 21,005,009. View filing ↗
- Honeywell International Inc., Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Honeywell International Inc.'s own proxy. As printed: 20,381,435. View filing ↗
- Johnson Controls International plc, Section 10b CEO total. DEF 14A, filed 2026-01-16. CEO total compensation as printed in Johnson Controls International plc's own proxy. As printed: 19,963,827. View filing ↗
- Cummins Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Cummins Inc.'s own proxy. As printed: 19,905,532. View filing ↗
- Dover Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-24. CEO total compensation as printed in Dover Corporation's own proxy. As printed: 18,757,706. View filing ↗
- Ecolab Inc., Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Ecolab Inc.'s own proxy. As printed: 17,404,935. View filing ↗
- Caterpillar Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in Caterpillar Inc.'s own proxy. As printed: 17,008,077. View filing ↗
- Rockwell Automation, Inc., Section 10b CEO total. DEF 14A, filed 2025-12-22. CEO total compensation as printed in Rockwell Automation, Inc.'s own proxy. As printed: 15,401,707. View filing ↗
- Illinois Tool Works Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Illinois Tool Works Inc's own proxy. As printed: 15,211,011. View filing ↗
- PPG Industries, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-05. CEO total compensation as printed in PPG Industries, Inc.'s own proxy. As printed: 14,885,022. View filing ↗
- Fortive Corporation, Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Fortive Corporation's own proxy. As printed: 14,405,012. View filing ↗
- Eaton Corporation plc, Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in Eaton Corporation plc's own proxy. As printed: 7,923,677. View filing ↗
- Stanley Black & Decker, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-06. CEO total compensation as printed in Stanley Black & Decker, Inc.'s own proxy. As printed: 7,656,246. View filing ↗
- Section 10a, Ecolab Inc. reciprocity. DEF 14A. Ecolab Inc. names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, General Dynamics Corporation reciprocity. DEF 14A. General Dynamics Corporation's most recent proxy was read; its disclosed peer group does not include Illinois Tool Works Inc. View filing ↗
- Section 10a, Honeywell International Inc. reciprocity. DEF 14A. Honeywell International Inc. names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Caterpillar Inc. reciprocity. DEF 14A. Caterpillar Inc.'s most recent proxy was read; its disclosed peer group does not include Illinois Tool Works Inc. View filing ↗
- Section 10a, Parker-Hannifin Corporation reciprocity. DEF 14A. Parker-Hannifin Corporation names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, 3M Company reciprocity. DEF 14A. 3M Company names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Cummins Inc. reciprocity. DEF 14A. Cummins Inc. names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Deere & Company reciprocity. DEF 14A. Deere & Company's most recent proxy was read; its disclosed peer group does not include Illinois Tool Works Inc. View filing ↗
- Section 10a, Dover Corporation reciprocity. DEF 14A. Dover Corporation names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Eaton Corporation plc reciprocity. DEF 14A. Eaton Corporation plc names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Emerson Electric Co. reciprocity. DEF 14A. Emerson Electric Co. names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Fortive Corporation reciprocity. DEF 14A. Fortive Corporation names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Johnson Controls International plc reciprocity. DEF 14A. Johnson Controls International plc's most recent proxy was read; its disclosed peer group does not include Illinois Tool Works Inc. View filing ↗
- Section 10a, PPG Industries, Inc. reciprocity. DEF 14A. PPG Industries, Inc. names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Rockwell Automation, Inc. reciprocity. DEF 14A. Rockwell Automation, Inc.'s most recent proxy was read; its disclosed peer group does not include Illinois Tool Works Inc. View filing ↗
- Section 10a, Stanley Black & Decker, Inc. reciprocity. DEF 14A. Stanley Black & Decker, Inc. names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Trane Technologies plc reciprocity. DEF 14A. Trane Technologies plc names Illinois Tool Works Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗