Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-18

Illinois Tool Works (ITW)

CEO Christopher A. O'Herlihy was paid $15,211,011 in fiscal year 2025, ↑ up 39.1% from fiscal year 2024, the 28th percentile of its disclosed peer group (SEC filing 0001193125-26-127599 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$15,211,011 ↑
Christopher A. O'Herlihy total, FY2025
28th
CEO pay percentile vs peers
208:1
CEO-to-median pay ratio
94.94%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Christopher A. O'Herlihy (President & Chief Executive Officer), FY2025 total compensation $15,211,011 (base salary $1,337,271) [exec_comp, SEC accession 0001193125-26-127599, filed 2026-03-27]

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ITW's next annual pay disclosure, estimated April 2, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
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. Larsen977,86002,074,9462,074,9671,994,0620238,6667,360,501
Senior Vice President and Chief Financial Officer
Mary K. Lawler671,6850899,771899,985893,3730146,9403,511,754
Senior Vice President and Chief Human Resources Officer
Axel R.J. Beck665,7690774,846774,973924,74253,26332,7163,226,309
Executive Vice President
T. Kenneth Escoe567,5700749,810749,999808,6980151,6523,027,729
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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Christopher A. O'Herlihy$15,211,011$10,932,645$6,898,841↑ +4,278,366
Michael M. Larsen7,360,5015,975,1536,223,293↑ +1,385,348
Mary K. Lawler3,511,7542,876,5263,026,251↑ +635,228
Axel R.J. Beck3,226,3092,594,7142,861,503↑ +631,595
T. Kenneth Escoe3,027,7292,689,187—↑ +338,542

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against ITW
56 companies name ITW as a compensation peer

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.

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Daniel J. BruttoIndependent Director$339,890
Darrell L. FordIndependent Director$324,890
David B. Smith JrIndependent Director$354,890
E. Scott SantiChair of the Board$589,722
Jaime IrickIndependent Director$339,890
James W. GriffithIndependent Director$339,890
Jay L. HendersonIndependent Director$349,890
Kelly J. GrierIndependent Director$339,890
Pamela B. StrobelIndependent Director$361,300
Richard H. LennyLead Independent Director$409,890
Susan CrownIndependent Director$344,890
02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Susan CrownDirector2026-05-08A833$255$212,215CommonForm 4 ↗
Pamela B. StrobelDirector2026-05-08D765255194,891CommonForm 4 ↗
Jennifer F. ScanlonDirector2026-05-08A846255215,527CommonForm 4 ↗
Darrell L. FordDirector2026-05-08A765255194,891CommonForm 4 ↗
James W. GriffithDirector2026-05-08A765255194,891CommonForm 4 ↗
Kelly J. GrierDirector2026-05-08A765255194,891CommonForm 4 ↗
David B. Smith JrDirector2026-05-08A917255233,615CommonForm 4 ↗
Daniel J. BruttoDirector2026-05-08A765255194,891CommonForm 4 ↗
Jay L. HendersonDirector2026-05-08A765255194,891CommonForm 4 ↗
Richard H. LennyDirector2026-05-08A765255194,891CommonForm 4 ↗
E. Scott SantiDirector2026-05-08A1,883255479,713CommonForm 4 ↗
Jaime IrickDirector2026-05-08A765255194,891CommonForm 4 ↗
Jennifer F. ScanlonDirector2026-06-02A806248199,880Common, open-market saleForm 4 ↗
Susan CrownDirector2026-08-07A5829717,206CommonForm 4 ↗
David B. Smith JrDirector2026-08-07A13029738,566CommonForm 4 ↗
E. Scott SantiDirector2026-08-07A117.9829735,000CommonForm 4 ↗
Jennifer F. ScanlonDirector2026-08-07A117.9829735,000CommonForm 4 ↗
Matteo C. PigozzoVP & Chief Accounting Officer2026-08-13D27728980,114CommonForm 4 ↗
E. Scott SantiDirector2026-08-19D22,4712866,435,020Common, open-market saleForm 4 ↗
E. Scott SantiDirector2026-08-19D1,890289546,569Common, open-market saleForm 4 ↗
E. Scott SantiDirector2026-08-19D8,1422872,339,604Common, open-market saleForm 4 ↗
E. Scott SantiDirector2026-08-19A41,4311887,783,228CommonForm 4 ↗
E. Scott SantiDirector2026-08-19D41,43100Derivative, Class A CommonForm 4 ↗
E. Scott SantiDirector2026-08-19D8,9282882,573,228Common, open-market saleForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Michael M. LarsenOPTION2025-02-14——28,831—$2,074,967
Axel R.J. BeckPSU2025-02-14————774,846
Axel R.J. BeckOPTION2025-02-14——10,768—774,973
T. Kenneth EscoeOPTION2025-02-14——10,421—749,999
Christopher A. O'HerlihyOPTION2025-02-14——72,947—5,249,996
Mary K. LawlerPSU2025-02-14————899,771
T. Kenneth EscoePSU2025-02-14————749,810
Christopher A. O'HerlihyPSU2025-02-1410,17020,340—40,6805,249,957
Michael M. LarsenPSU2025-02-14————2,074,946
Christopher A. O'HerlihyPSU2025-02-14————5,249,957
Mary K. LawlerOPTION2025-02-14——12,505—899,985
Christopher A. O'HerlihyOptions/SARs2025-02-14——72,947—5,249,996
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Michael M. Larsen$0$2,074,946$2,074,96750.0%
Axel R.J. Beck0774,846774,97350.0%
T. Kenneth Escoe0749,810749,99950.0%
Christopher A. O'Herlihy010,499,9145,249,99666.7%
Mary K. Lawler0899,771899,98550.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Axel R.J. BeckOption7,883255.75—
Axel R.J. BeckPSU3,059—753,502
T. Kenneth EscoeOption6,795255.75—
Michael M. LarsenOption28,831258.11—
T. Kenneth EscoeOption4,095235.52—
Christopher A. O'HerlihyPSU4,641—1,143,133
Axel R.J. BeckOption5,211235.52—
Mary K. LawlerOption5,956235.52—
Christopher A. O'HerlihyPSU20,728—5,105,341
Christopher A. O'HerlihyPSU8,920—2,196,919
Michael M. LarsenPSU8,192—2,017,790
Michael M. LarsenPSU4,245—1,045,420
T. Kenneth EscoePSU2,960—729,155
Michael M. LarsenPSU3,975—979,148
Mary K. LawlerPSU3,553—874,986
Mary K. LawlerPSU1,811—446,011
Mary K. LawlerPSU1,681—414,057
Axel R.J. BeckPSU1,585—390,325
Axel R.J. BeckPSU1,478—363,970
T. Kenneth EscoePSU1,273—313,626
T. Kenneth EscoePSU1,245—306,534
Christopher A. O'HerlihyOption72,947258.11—
Christopher A. O'HerlihyOption47,568255.75—
Christopher A. O'HerlihyOption15,262235.52—
Mary K. LawlerOption12,505258.11—
Christopher A. O'HerlihyOption10,659217.72—
Michael M. LarsenOption21,202255.75—
Michael M. LarsenOption13,959235.52—
Michael M. LarsenOption9,690217.72—
Axel R.J. BeckOption10,768258.11—
Axel R.J. BeckOption3,046217.72—
T. Kenneth EscoeOption10,421258.11—
T. Kenneth EscoeOption2,907217.72—
Mary K. LawlerOption8,970255.75—
Mary K. LawlerOption4,153217.72—
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantMeridian Compensation Partners LLC
Clawback policy—
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-08223,001,14910,219,9741,657,36994.94%Passed
20252025-05-02224,310,35311,344,5772,010,21394.38%Passed
20242024-05-03227,242,32114,783,9081,804,56993.2%Passed
20232023-05-05230,021,63217,142,266761,01392.78%Passed
20222022-05-06237,036,87416,701,701821,55493.12%Passed
20212021-05-07240,364,64215,718,3171,098,22593.46%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 yearMeeting dateApproval — company's computation
20262026-05-0894.94%a
20252025-05-0294.38%b
20242024-05-0393.2%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.

07

CEO pay ratio

Ratio (CEO : median employee)208 : 1
CEO total compensation$15,211,011
Median employee compensation$73,094
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
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 · Executive210,000184,890——15,000409,890
Pamela B. StrobelIndependent · Compensation · Nominating/Governance (Chair) · Executive160,000184,890——16,410361,300
David B. Smith JrIndependent · Audit · Finance · Executive155,000184,890——15,000354,890
Jay L. HendersonIndependent · Audit · Finance · Executive165,000184,890——0349,890
Susan CrownIndependent · Compensation · Nominating/Governance · Executive (Chair)145,000184,890——15,000344,890
Kelly J. GrierIndependent · Audit · Finance140,000184,890——15,000339,890
Jaime IrickIndependent · Audit140,000184,890——15,000339,890
Daniel J. BruttoIndependent140,000184,890——15,000339,890
James W. GriffithIndependent · Compensation · Nominating/Governance · Executive140,000184,890——15,000339,890
Darrell L. FordIndependent · Compensation · Nominating/Governance140,000184,890——0324,890
Jennifer F. ScanlonIndependent · Partial-year service · Newly elected——————
09

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$700,000
09b

Total cost of the board

ComponentFY2025
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.

10

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.

10a

Peer reciprocity

Of the companies Illinois Tool Works 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.

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.

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Deere & Company2025John May$1,694,507$13,950,239$4,255,133$5,450,551$27,925,424
2Trane Technologies plc2025David Regnery1,512,5008,900,3975,700,0102,831,17327,262,157
3General Dynamics Corporation2025Phebe Novakovic1,737,50012,539,6345,220,4455,729,00025,924,082
4Parker-Hannifin Corporation2026Jennifer Parmentier1,537,5007,586,8987,841,9404,539,82222,761,169
5Emerson Electric Co.2025Lal Karsanbhai1,537,50015,413,32503,728,52521,240,262
63M Company2025William Brown1,800,0007,753,8527,001,2423,745,32221,005,009
7Honeywell International Inc.2025Vimal Kapur1,600,00010,866,2693,623,9143,516,80020,381,435
8Johnson Controls International plc2025Joakim Weidemanis825,00012,849,0883,749,9932,357,24719,963,827
9Cummins Inc.2025Jennifer Rumsey1,533,7506,429,00406,975,65619,905,532
10Dover Corporation2025Richard Tobin1,387,3858,040,7266,562,519018,757,706
11Ecolab Inc.2025Christophe Beck1,390,0817,228,1014,566,9163,383,18317,404,935
12Caterpillar Inc.2025Joseph Creed1,381,8929,538,4843,101,1172,476,80017,008,077
13Rockwell Automation, Inc.2025Blake Moret1,210,4567,700,4213,300,0101,737,61015,401,707
14Illinois Tool Works2025Christopher A. O'Herlihy1,337,2715,249,9575,249,9962,702,38915,211,011
15PPG Industries, Inc.2025Timothy Knavish1,300,0007,333,5423,666,6901,924,00014,885,022
16Fortive Corporation2025Olumide Soroye931,7338,196,1253,706,5191,358,10014,405,012
17Target2025Michael Fiddelke1,065,3857,853,2530300,8829,598,071
18Eaton Corporation plc2025Paulo Ruiz1,087,1164,140,3141,384,6951,155,0007,923,677
19Stanley Black & Decker, Inc.2025Christopher Nelson997,4623,964,6991,321,569929,0557,656,246

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Illinois Tool Worksnot disclosedPSU 50 · Options 50NoMeridian Compensation Partners LLC
3M Company118.9%PSU 50 · Options 50NoFW Cook
Caterpillar Inc.118%PSU 50 · RSU 25 · Options 25Yes — relative Total Shareholder Return (rTSR)Meridian Compensation Partners, LLC
Cummins Inc.90%PSU 70 · Cash LTI 30NoFarient
Deere & Company160.8%PSU 50 · RSU 25 · Options 25NoSemler Brossy Consulting Group, LLC (current); Pearl Meyer & Partners, LLC (prior year)
Dover Corporation121.7%PSU 40 · Options 40 · RSU 20Yes — 3-Year relative TSRMeridian Compensation Partners, LLC
Eaton Corporation plc70%PSU 50 · RSU 25 · Options 25Yes — Relative TSRMeridian Compensation Partners
Ecolab Inc.137%PSU 60 · Options 40Yes — relative TSRFW Cook
Emerson Electric Co.141.5%PSU 55 · RSU 45NoExequity
Fortive Corporationnot disclosedPSU 50 · RSU 25 · Option 25Yes — Relative TSR vs. S&P 500Pearl Meyer
General Dynamics Corporation177.0%PSU 50 · Options 30 · RSU 20Yes — rTSR (relative Total Shareholder Return)Pay Governance, LLC
Honeywell International Inc.126%PSU 50 · Options 25 · RSU 25Yes — three-year total shareowner return (TSR) relative to the 2025 Compensation Peer Groupnot disclosed
Johnson Controls International plc176.6%PSU 50 · Option 25 · RSU 25Yes — TSR Relative to S&P 500 IndustrialsFarient Advisors LLC
Parker-Hannifin Corporationnot disclosedPSU 50 · Options 50NoMercer Consulting
PPG Industries, Inc.93%MSU 34 · Options 33 · PSU 33NoFW Cook
Rockwell Automation, Inc.95.7%PSU 40 · Option 30 · RSU 30NoWillis Towers Watson
Stanley Black & Decker, Inc.72.3%PSU 50 · RSU 25 · Options 25Yes — Relative TSRPay Governance
Targetnot disclosedPSU 60 · PBRSU 40NoSemler Brossy
Trane Technologies plc109.21%PSU 50 · Options 40 · RSU 10Yes — Relative TSRMeridian 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.

10d

Frequently asked questions

Who was the highest-paid executive at Illinois Tool Works in fiscal 2025?
As disclosed, Christopher A. O'Herlihy (President & Chief Executive Officer) was the highest-paid executive at Illinois Tool Works in fiscal 2025, with total compensation of $15,211,011.
How does Illinois Tool Works's chief executive pay compare to its disclosed peer group?
As disclosed, Christopher A. O'Herlihy's total compensation ranked at the 28th percentile of Illinois Tool Works's disclosed peer group.
What is Illinois Tool Works's CEO-to-median employee pay ratio?
As disclosed, Illinois Tool Works's CEO-to-median employee pay ratio was 208:1.
How did shareholders vote on Illinois Tool Works's executive compensation?
As disclosed, 94.94% of shareholders supported Illinois Tool Works's executive compensation in the latest say-on-pay vote.
How much does Illinois Tool Works spend in total on board compensation for fiscal 2025?
As disclosed, Illinois Tool Works 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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Christopher A. O'HerlihyDEF 14A2026-03-270001193125-26-127599Section “Summary Compensation Table”. As printed: 15,211,011. Filing ↗machine: span 1647874–1647884
2Section 01, Michael M. LarsenDEF 14A2026-03-270001193125-26-127599Section “Summary Compensation Table”. As printed: 7,360,501. Filing ↗machine: span 1680843–1680852
3Section 01, Mary K. LawlerDEF 14A2026-03-270001193125-26-127599Section “Summary Compensation Table”. As printed: 3,511,754. Filing ↗machine: span 1770329–1770338
4Section 01, Axel R.J. BeckDEF 14A2026-03-270001193125-26-127599Section “Summary Compensation Table”. As printed: 3,226,309. Filing ↗machine: span 1714865–1714874
5Section 01, T. Kenneth EscoeDEF 14A2026-03-270001193125-26-127599Section “Summary Compensation Table”. As printed: 3,027,729. Filing ↗machine: span 1747796–1747805
6Section 03, Michael M. Larsen OPTIONDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r8 · c11 · span 1910606–1910612
7Section 03, Axel R.J. Beck PSUDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t178 · r8 · c9 · span 1708452–1708459
8Section 03, Axel R.J. Beck OPTIONDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r11 · c11 · span 1927140–1927146
9Section 03, T. Kenneth Escoe OPTIONDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r14 · c11 · span 1943674–1943680
10Section 03, Christopher A. O'Herlihy OPTIONDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r5 · c11 · span 1894064–1894070
11Section 03, Mary K. Lawler PSUDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t178 · r13 · c9 · span 1763923–1763930
12Section 03, T. Kenneth Escoe PSUDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t178 · r11 · c9 · span 1741390–1741397
13Section 03, Christopher A. O'Herlihy PSUDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1889354–1889363
14Section 03, Michael M. Larsen PSUDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t178 · r5 · c9 · span 1674431–1674440
15Section 03, Christopher A. O'Herlihy PSUDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t178 · r2 · c9 · span 1641453–1641462
16Section 03, Mary K. Lawler OPTIONDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t189 · r17 · c11 · span 1960614–1960620
17Section 03, Christopher A. O'Herlihy Options/SARsDEF 14A2026-03-270001193125-26-127599Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: span 1894852–1894861
18Section 07, pay ratioDEF 14A2026-03-270001193125-26-127599Section “CEO Pay Ratio”. As printed: 208 : 1. Filing ↗machine: span 2871492–2871495
19Section 08, E. Scott SantiDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 589,722. Filing ↗machine: span 1047443–1047698
20Section 08, Richard H. LennyDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 409,890. Filing ↗machine: span 1038624–1038879
21Section 08, Pamela B. StrobelDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 361,300. Filing ↗machine: span 1064974–1065229
22Section 08, David B. Smith JrDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 354,890. Filing ↗machine: span 1056208–1056463
23Section 08, Jay L. HendersonDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 349,890. Filing ↗machine: span 1021164–1021419
24Section 08, Susan CrownDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 344,890. Filing ↗machine: span 986947–987202
25Section 08, Kelly J. GrierDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 339,890. Filing ↗machine: span 1004083–1004338
26Section 08, Jaime IrickDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 339,890. Filing ↗machine: span 1029862–1030117
27Section 08, Daniel J. BruttoDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 339,890. Filing ↗machine: span 978190–978445
28Section 08, James W. GriffithDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 339,890. Filing ↗machine: span 1012846–1013101
29Section 08, Darrell L. FordDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: 324,890. Filing ↗machine: span 995382–995637
30Section 08, Jennifer F. ScanlonDEF 14A2026-03-270001193125-26-127599Section “Director Compensation”. As printed: —. Filing ↗
31Section 02, Susan Crown 2026-05-08Form 42026-05-120001124194-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Pamela B. Strobel 2026-05-08Form 42026-05-120001184023-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Jennifer F. Scanlon 2026-05-08Form 42026-05-120001426641-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Darrell L. Ford 2026-05-08Form 42026-05-120001661031-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, James W. Griffith 2026-05-08Form 42026-05-120001177773-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Kelly J. Grier 2026-05-08Form 42026-05-120001945869-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, David B. Smith Jr 2026-05-08Form 42026-05-120001478669-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Daniel J. Brutto 2026-05-08Form 42026-05-120001415303-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Jay L. Henderson 2026-05-08Form 42026-05-120001673525-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Richard H. Lenny 2026-05-08Form 42026-05-120001139497-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, E. Scott Santi 2026-05-08Form 42026-05-120001307581-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Jaime Irick 2026-05-08Form 42026-05-120001695807-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Jennifer F. Scanlon 2026-06-02Form 42026-06-040001426641-26-000007Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Susan Crown 2026-08-07Form 42026-08-110000049826-26-000050Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, David B. Smith Jr 2026-08-07Form 42026-08-110000049826-26-000053Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, E. Scott Santi 2026-08-07Form 42026-08-110000049826-26-000052Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Jennifer F. Scanlon 2026-08-07Form 42026-08-110001426641-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Matteo C. Pigozzo 2026-08-13Form 42026-08-170002140217-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, E. Scott Santi 2026-08-19Form 42026-08-210001307581-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, E. Scott Santi 2026-08-19Form 42026-08-210001307581-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, E. Scott Santi 2026-08-19Form 42026-08-210001307581-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, E. Scott Santi 2026-08-19Form 42026-08-210001307581-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, E. Scott Santi 2026-08-19Form 42026-08-210001307581-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, E. Scott Santi 2026-08-19Form 42026-08-210001307581-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
55Section 06, 2026 voteForm 8-K2026-05-120000049826-26-000030Item 5.07 · say-on-pay result. As reported: 94.94% (votes for as printed: 223,001,149). Filing ↗
56Section 06, 2025 voteForm 8-K2025-05-070000049826-25-000023Item 5.07 · say-on-pay result. As reported: 94.38% (votes for as printed: 224,310,353). Filing ↗
57Section 06, 2024 voteForm 8-K2024-05-090000049826-24-000024Item 5.07 · say-on-pay result. As reported: 93.2% (votes for as printed: 227,242,321). Filing ↗
58Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
59Section 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).machine: formula: sums + PSU ratio
60Section 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.machine: formula: Σ = 4,095,032
61Deere & Company, Section 10b CEO totalDEF 14A2026-01-140001104659-26-003618CEO total compensation as printed in Deere & Company's own proxy. As printed: 27,925,424. Filing ↗machine: t295 · r9 · c26 · span 5375554–5375564
62Trane Technologies plc, Section 10b CEO totalDEF 14A2026-04-230001628280-26-026679CEO total compensation as printed in Trane Technologies plc's own proxy. As printed: 27,262,157. Filing ↗machine: t21 · r2 · c15 · span 319298–319308
63General Dynamics Corporation, Section 10b CEO totalDEF 14A2026-03-270001308179-26-000168CEO total compensation as printed in General Dynamics Corporation's own proxy. As printed: 25,924,082. Filing ↗machine: r1 · c16 · span 945926–945936
64Parker-Hannifin Corporation, Section 10b CEO totalDEF 14A2026-09-180001308179-26-000394CEO total compensation as printed in Parker-Hannifin Corporation's own proxy. As printed: 22,761,169. Filing ↗machine: r2 · c24 · span 1022768–1022778
65Emerson Electric Co., Section 10b CEO totalDEF 14A2025-12-120000032604-25-000103CEO total compensation as printed in Emerson Electric Co.'s own proxy. As printed: 21,240,262. Filing ↗machine: r2 · c27 · span 849389–849399
663M Company, Section 10b CEO totalDEF 14A2026-03-250000066740-26-000151CEO total compensation as printed in 3M Company's own proxy. As printed: 21,005,009. Filing ↗machine: r2 · c9 · span 2797692–2797702
67Honeywell International Inc., Section 10b CEO totalDEF 14A2026-04-100000773840-26-000029CEO total compensation as printed in Honeywell International Inc.'s own proxy. As printed: 20,381,435. Filing ↗machine: span 2093429–2093439
68Johnson Controls International plc, Section 10b CEO totalDEF 14A2026-01-160001104659-26-004565CEO total compensation as printed in Johnson Controls International plc's own proxy. As printed: 19,963,827. Filing ↗
69Cummins Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-039158CEO total compensation as printed in Cummins Inc.'s own proxy. As printed: 19,905,532. Filing ↗machine: t135 · r1 · c47 · span 1108458–1108468
70Dover Corporation, Section 10b CEO totalDEF 14A2026-03-240001193125-26-120708CEO total compensation as printed in Dover Corporation's own proxy. As printed: 18,757,706. Filing ↗machine: t263 · r2 · c35 · span 813120–813130
71Ecolab Inc., Section 10b CEO totalDEF 14A2026-03-200001104659-26-032777CEO total compensation as printed in Ecolab Inc.'s own proxy. As printed: 17,404,935. Filing ↗machine: t199 · r1 · c63 · span 2259065–2259075
72Caterpillar Inc., Section 10b CEO totalDEF 14A2026-04-300001308179-26-000358CEO total compensation as printed in Caterpillar Inc.'s own proxy. As printed: 17,008,077. Filing ↗machine: span 855862–855872
73Rockwell Automation, Inc., Section 10b CEO totalDEF 14A2025-12-220001308179-25-000665CEO total compensation as printed in Rockwell Automation, Inc.'s own proxy. As printed: 15,401,707. Filing ↗machine: t89 · r1 · c18 · span 642843–642853
74Illinois Tool Works (subject), Section 10b CEO totalDEF 14A2026-03-270001193125-26-127599CEO total compensation as printed in Illinois Tool Works's own proxy. As printed: 15,211,011. Filing ↗machine: span 1647874–1647884
75PPG Industries, Inc., Section 10b CEO totalDEF 14A2026-03-050000079879-26-000088CEO total compensation as printed in PPG Industries, Inc.'s own proxy. As printed: 14,885,022. Filing ↗machine: span 1300546–1300556
76Fortive Corporation, Section 10b CEO totalDEF 14A2026-04-290001193125-26-189078CEO total compensation as printed in Fortive Corporation's own proxy. As printed: 14,405,012. Filing ↗machine: r5 · c17 · span 4058480–4058491
77Target, Section 10b CEO totalDEF 14A2026-04-270001628280-26-027508CEO total compensation as printed in Target's own proxy. As printed: 9,598,071. Filing ↗machine: r7 · c8 · span 2799507–2799517
78Eaton Corporation plc, Section 10b CEO totalDEF 14A2026-03-130001193125-26-105117CEO total compensation as printed in Eaton Corporation plc's own proxy. As printed: 7,923,677. Filing ↗machine: r4 · c18 · span 2008245–2008255
79Stanley Black & Decker, Inc., Section 10b CEO totalDEF 14A2026-03-060001140361-26-008170CEO total compensation as printed in Stanley Black & Decker, Inc.'s own proxy. As printed: 7,656,246. Filing ↗machine: r2 · c25 · span 1734426–1734435
80Section 10a, Ecolab Inc. reciprocityDEF 14A—0001104659-26-032777Ecolab Inc. names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
81Section 10a, General Dynamics Corporation reciprocityDEF 14A—0001308179-26-000168General Dynamics Corporation's most recent proxy was read; its disclosed peer group does not include Illinois Tool Works. Filing ↗
82Section 10a, Honeywell International Inc. reciprocityDEF 14A—0000773840-26-000029Honeywell International Inc. names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
83Section 10a, Caterpillar Inc. reciprocityDEF 14A—0001308179-26-000358Caterpillar Inc.'s most recent proxy was read; its disclosed peer group does not include Illinois Tool Works. Filing ↗
84Section 10a, Parker-Hannifin Corporation reciprocityDEF 14A—0001308179-26-000394Parker-Hannifin Corporation names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
85Section 10a, 3M Company reciprocityDEF 14A—0000066740-26-0001513M Company names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
86Section 10a, Cummins Inc. reciprocityDEF 14A—0001104659-26-039158Cummins Inc. names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
87Section 10a, Deere & Company reciprocityDEF 14A—0001104659-26-003618Deere & Company's most recent proxy was read; its disclosed peer group does not include Illinois Tool Works. Filing ↗
88Section 10a, Dover Corporation reciprocityDEF 14A—0001193125-26-120708Dover Corporation names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
89Section 10a, Eaton Corporation plc reciprocityDEF 14A—0001193125-26-105117Eaton Corporation plc names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
90Section 10a, Emerson Electric Co. reciprocityDEF 14A—0000032604-25-000103Emerson Electric Co. names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
91Section 10a, Fortive Corporation reciprocityDEF 14A—0001193125-26-189078Fortive Corporation names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
92Section 10a, Johnson Controls International plc reciprocityDEF 14A—0001104659-26-004565Johnson Controls International plc's most recent proxy was read; its disclosed peer group does not include Illinois Tool Works. Filing ↗
93Section 10a, PPG Industries, Inc. reciprocityDEF 14A—0000079879-26-000088PPG Industries, Inc. names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
94Section 10a, Rockwell Automation, Inc. reciprocityDEF 14A—0001308179-25-000665Rockwell Automation, Inc.'s most recent proxy was read; its disclosed peer group does not include Illinois Tool Works. Filing ↗
95Section 10a, Stanley Black & Decker, Inc. reciprocityDEF 14A—0001140361-26-008170Stanley Black & Decker, Inc. names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
96Section 10a, Trane Technologies plc reciprocityDEF 14A—0001628280-26-026679Trane Technologies plc names Illinois Tool Works in its own disclosed peer group (read from its most recent proxy). Filing ↗
97Section 10a, Target reciprocityDEF 14A—0001628280-26-027508Target's most recent proxy was read; its disclosed peer group does not include Illinois Tool Works. Filing ↗

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