ITW · Illinois Tool Works Inc · Executive Compensation

$287.52 +0.77 (+0.27%) At close · Nov 13 Play latest call Q3 2026 earnings call transcript

S&P 500 member Russell 1000 member Rebalance outlook locked

Market Cap

$81.71B

284.20M

Volume · Nov 13 870.83K Avg daily vol (3M) 1.28M

Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.

Fiscal 2025

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Christopher A. O'Herlihy	President & Chief Executive Officer	$1,337,271	—	$5,249,957	$5,249,996	$2,702,389	$415,605	$15,211,011
Michael Larsen	Senior Vice President and Chief Financial Officer	$977,860	—	$2,074,946	$2,074,967	$1,994,062	$238,666	$7,360,501
Mary K. Lawler	Senior Vice President and Chief Human Resources Officer	$671,685	—	$899,771	$899,985	$893,373	$146,940	$3,511,754
Axel R.J. Beck	Executive Vice President	$665,769	—	$774,846	$774,973	$924,742	$32,716	$3,226,309
T. Kenneth Escoe	Executive Vice President	$567,570	—	$749,810	$749,999	$808,698	$151,652	$3,027,729

Fiscal 2024

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Christopher A. O'Herlihy	President & Chief Executive Officer	$1,300,000	—	$2,187,430	$4,374,988	$2,514,128	$399,472	$10,932,645
Michael Larsen	Senior Vice President and Chief Financial Officer	$942,227	—	$974,919	$1,949,996	$1,872,085	$235,926	$5,975,153
E. Scott Santi	Former Executive Chairman and Current Non-Executive Chairman	$235,115	—	$434,909	—	$3,747,832	$153,026	$4,849,422
Mary K. Lawler	Senior Vice President and Chief Human Resources Officer	$647,209	—	$412,269	$824,932	$844,095	$148,021	$2,876,526
T. Kenneth Escoe	Executive Vice President	$551,655	—	$312,271	$624,959	$1,024,373	$175,929	$2,689,187
Axel R.J. Beck	Executive Vice President	$618,918	—	$362,398	$724,980	$706,559	$22,181	$2,594,714

Fiscal 2023

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
E. Scott Santi	Former Executive Chairman and Current Non-Executive Chairman	$1,400,000	—	$3,587,441	$7,174,971	$7,574,565	$122,271	$22,507,817
Christopher A. O'Herlihy	President & Chief Executive Officer	$919,770	—	$1,024,983	$2,049,992	$2,401,550	$289,363	$6,898,841
Michael Larsen	Senior Vice President and Chief Financial Officer	$909,761	—	$937,370	$1,874,973	$2,256,573	$244,616	$6,223,293
Mary K. Lawler	Senior Vice President and Chief Human Resources Officer	$624,908	—	$399,913	$799,943	$1,044,797	$156,690	$3,026,251
Axel R.J. Beck	Executive Vice President	$597,878	—	$349,983	$699,942	$1,033,438	$24,126	$2,861,503

Fiscal 2022

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
E. Scott Santi	Former Executive Chairman and Current Non-Executive Chairman	$1,393,269	—	$3,337,430	$6,674,976	$7,350,403	$181,774	$22,234,230
Christopher A. O'Herlihy	President & Chief Executive Officer	$884,950	—	$962,322	$1,924,970	$2,475,535	$375,201	$6,622,978
Michael Larsen	Senior Vice President and Chief Financial Officer	$875,320	—	$874,799	$1,749,969	$2,381,524	$332,736	$6,214,348
Mary K. Lawler	Senior Vice President and Chief Human Resources Officer	$594,556	—	$374,914	$749,987	$1,124,010	$192,185	$3,035,651
Michael R. Zimmerman	Executive Vice President	$513,226	—	$349,876	$699,960	$899,152	$50,365	$2,989,362
Lei Z. Schlitz	Former Executive Vice President	$508,453	—	$387,324	$775,000	$966,057	$145,116	$2,781,949

Fiscal 2021

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
E. Scott Santi	Chairman & Chief Executive Officer (Chairman, Effective January 1, 2024)	$1,350,000	—	$4,887,030	$6,174,959	$7,410,625	$198,450	$20,787,622
Christopher A. O'Herlihy	Vice Chairman (President and Chief Executive Officer, Effective January 1, 2024)	$854,377	—	$1,365,659	$1,749,988	$2,524,118	$408,529	$6,926,539
Michael Larsen	Senior Vice President & CFO	$845,080	—	$1,266,174	$1,599,967	$2,465,112	$346,108	$6,522,441
John R. Hartnett	Executive Vice President	$580,145	—	$587,465	$749,983	$1,296,591	$52,973	$3,495,183
Mary K. Lawler	Senior Vice President, Human Resources	$530,336	—	$579,023	$724,993	$1,103,474	$158,148	$3,095,974

Fiscal 2020

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
E. Scott Santi	Chairman & Chief Executive Officer	$1,344,924	—	$2,937,379	$5,874,987	$3,117,342	$69,832	$14,007,356
Christopher A. O'Herlihy	Vice Chairman	$820,740	—	$812,495	$1,624,993	$921,511	$165,381	$4,753,639
Christopher A	O’Herlihy Vice Chairman	$820,740	—	$812,495	$1,624,993	$921,511	$165,381	$4,753,639
Michael Larsen	Senior Vice President & CFO	$812,904	—	$749,937	$1,499,996	$885,167	$126,797	$4,074,801
Steven L. Martindale	Executive Vice President	$630,017	—	$387,367	$774,972	$497,365	$125,631	$2,419,526
John R. Hartnett	Executive Vice President	$555,740	—	$362,382	$724,988	$358,811	$21,800	$2,251,839

Fiscal 2019

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
E. Scott Santi	Chairman & Chief Executive Officer	$1,315,000	—	$2,874,971	$5,749,974	$4,755,524	$78,790	$15,440,345
Christopher A. O'Herlihy	Vice Chairman	$785,791	—	$749,892	$1,499,986	$1,283,333	$175,220	$4,873,060
Christopher A	O’Herlihy Vice Chairman	$785,791	—	$749,892	$1,499,986	$1,283,333	$175,220	$4,873,060
Michael Larsen	Senior Vice President & CFO	$784,750	—	$712,397	$1,424,978	$1,337,448	$135,810	$4,395,383
John R. Hartnett	Executive Vice President	$536,492	—	$337,451	$674,968	$658,525	$25,908	$2,591,181
Steven L. Martindale	Executive Vice President	$605,683	—	$362,400	$724,996	$684,754	$118,389	$2,501,476

Fiscal 2018

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
E. Scott Santi	Chairman & Chief Executive Officer	$1,306,747	—	$2,749,839	$5,499,988	$5,910,732	$95,111	$17,708,516
Michael Larsen	Senior Vice President & CFO	$754,671	—	$712,413	$1,424,983	$1,838,508	$150,208	$4,880,783
Christopher A	O’Herlihy Vice Chairman	$746,537	—	$749,986	$1,499,976	$1,614,156	$193,174	$4,803,829
Steven L. Martindale	Executive Vice President	$583,139	—	$337,338	$674,976	$992,924	$158,758	$2,752,096

Fiscal 2017

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
E. Scott Santi	Chairman & CEO	$1,253,684	—	$2,624,896	$5,249,987	$6,112,840	$141,039	$17,109,870
Michael Larsen	Senior Vice President & CFO	$727,341	—	$687,488	$1,374,984	$2,017,978	$204,718	$5,012,509
Christopher A	O’Herlihy Vice Chairman	$667,116	—	$649,984	$1,299,994	$1,427,813	$242,629	$4,618,477

Executive changes

Person	Role	Change	Effective	Filed
Matteo C. Pigozzo	Vice President & Chief Accounting Officer and Principal Accounting Officer	Appointed	2026-07-01	2026-05-22
Pamela B. Strobel	Director	Already on the board Since at least 2008: re-election or new board role	2024-05-03	2024-05-09
Christoper A. O'Herlihy	Director	Appointed	2024-05-03	2024-05-09
E. Scott Santi	Director	Already on the board Since at least 2012: re-election or new board role	2024-05-03	2024-05-09
David B. Smith, Jr.	Director	Appointed	2024-05-03	2024-05-09
Jay L. Henderson	Director	Already on the board Since at least 2016: re-election or new board role	2024-05-03	2024-05-09
Jaime Irick	Director	Appointed	2024-05-03	2024-05-09
Richard H. Lenny	Director	Already on the board Since at least 2014: re-election or new board role	2024-05-03	2024-05-09
James W. Griffith	Director	Already on the board Since at least 2012: re-election or new board role	2024-05-03	2024-05-09
Kelly J. Grier	Director	Appointed	2024-05-03	2024-05-09
Darrell L. Ford	Director	Already on the board Since at least 2021: re-election or new board role	2024-05-03	2024-05-09
Susan Crown	Director	Already on the board Since at least 1994: re-election or new board role	2024-05-03	2024-05-09
Daniel J. Brutto	Director	Already on the board Since at least 2012: re-election or new board role	2024-05-03	2024-05-09
Jaime Irick	director	Appointed	2024-02-01	2023-12-11
Christopher A. O'Herlihy	President and Chief Executive Officer	Appointed	2024-01-01	2023-09-07
Christopher A. O'Herlihy	member of the Company's Board of Directors	Appointed	2024-01-01	2023-09-07
E. Scott Santi	Non-Executive Chairman of the Board	Appointed	2024-03-01	2023-09-07
Kelly J. Grier	director	Appointed	2022-09-09	2022-09-12

Leadership

Christopher A. O'Herlihy CEO, Board Member
E. Scott Santi Chairman
Matteo C. Pigozzo Chief Accounting Officer
Anré D. Williams Board Member
Christoper A. O'Herlihy Board Member
Christoper A. O’Herlihy Board Member
Daniel J. Brutto Board Member
Darrell L. Ford Board Member
David B. Smith Board Member
David B. Smith, Jr. Board Member
Jaime Irick Board Member
James W. Griffith Board Member
Jay L. Henderson Board Member
Kelly J. Grier Board Member
Pamela B. Strobel Board Member
Richard H. Lenny Board Member
Susan Crown Board Member

Key facts CIK 49826 CUSIP 452308109 13F (30d) 1623 filings 1520 filers Visit website Investor relations