On March 25, 2022, Illinois Tool Works Inc announced that it has received a shareholder proposal from John Chevedden, asking the Company to take the steps necessary to amend the appropriate company governing documents to give the owners of a combined 10% of the Company outstanding common stock the power to call a special shareholder meeting. In addition, the Company urged the shareholders to vote against the shareholders proposal at the annual meeting of shareholders to be held on May 6, 2022.