Michael M. Larsen compensation by year
ILLINOIS TOOL WORKS Summary Compensation Table · all 4 fiscal years held| Component | FY2019 | FY2020 | FY2021 | FY2025 |
|---|---|---|---|---|
| Salary | $784,750 | $812,904 | $845,080 | $977,860 |
| Bonus | $0 | $0 | $0 | $0 |
| Stock awards | $712,397 | $749,937 | $1,266,174 | $2,074,946 |
| Option awards | $1,424,978 | $1,499,996 | $1,599,967 | $2,074,967 |
| Non-equity incentive | $1,337,448 | $885,167 | $2,465,112 | $1,994,062 |
| Pension and deferred compensation | $0 | $0 | $0 | $0 |
| All other | $135,810 | $126,797 | $346,108 | $238,666 |
| Total | $4,395,383 | $4,074,801 | $6,522,441 | $7,360,501 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: ILLINOIS TOOL WORKS INC DEF 14A filed March 27, 2026, accession 0001193125-26-127599, and prior-year filings. Open the filing on EDGAR.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| PSU | 8,192 | $2,017,790 | — |
| PSU | 4,245 | $1,045,420 | — |
| PSU | 3,975 | $979,148 | — |
| Option | 28,831 | — | $258.11 |
| Option | 21,202 | — | $255.75 |
| Option | 13,959 | — | $235.52 |
| Option | 9,690 | — | $217.72 |
Per the Outstanding Equity Awards at Fiscal Year-End table in ILLINOIS TOOL WORKS INC's FY2025 proxy; value at the fiscal year-end close, as the company printed it.
Change-in-control & termination
estimated payments ILLINOIS TOOL WORKS discloses, by trigger · FY2025| Trigger | Cash severance | Accelerated equity | Benefits continuation | Total as disclosed |
|---|---|---|---|---|
| Change in control and involuntary termination | $3,860,097 | $5,324,444 | $0 | $10,768,603 |
| Involuntary termination without cause | $246,091 | $0 | $9,735 | $839,888 |
| Retirement | $0 | $0 | $0 | $584,062 |
| Disability | $0 | $6,381,276 | $0 | $6,966,338 |
| Death | $0 | $6,381,276 | $0 | $6,966,338 |
Per the Potential Payments Upon Termination or Change in Control table in ILLINOIS TOOL WORKS INC's FY2025 proxy. Estimates as the company printed them; a dash means it printed no figure.
ILLINOIS TOOL WORKS’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| Christopher A. O'Herlihy | President & Chief Executive Officer | $15,211,011 |
| Michael M. Larsen · this page | Senior Vice President and Chief Financial Officer | $7,360,501 |
| Mary K. Lawler | Senior Vice President and Chief Human Resources Officer | $3,511,754 |
| Axel R.J. Beck | Executive Vice President | $3,226,309 |
| T. Kenneth Escoe | Executive Vice President | $3,027,729 |
The full ILLINOIS TOOL WORKS compensation record
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Compensation, the day it’s disclosed
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How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are ILLINOIS TOOL WORKS's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.
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