Timothy L Chambers Form 4 Snap-on / Timothy L Chambers ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Chambers Timothy L

(Last) (First) (Middle)

SNAP-ON INCORPORATED

2801 80TH STREET

(Street)

KENOSHA WI 53143

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Snap-on Inc [ SNA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Sr VP & Pres - Tools

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/28/2021		M(1)		6,000	A	$60	16,453.2267	D
Common Stock	01/28/2021		S(1)		5,597	D	$190.193(2)	10,856.2267	D
Common Stock	01/28/2021		S(1)		403	D	$191.0968(3)	10,453.2267	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$60	01/28/2021		M(1)			6,000	(4)	02/08/2022	Common Stock	6,000	(5)	0	D
Stock Option (Right to Buy)	$79.04							(4)	02/13/2023	Common Stock	6,500		6,500	D
Stock Option (Right to Buy)	$109.43							(4)	02/13/2024	Common Stock	7,000		7,000	D
Stock Option (Right to Buy)	$144.69							(4)	02/12/2025	Common Stock	7,000		7,000	D
Stock Option (Right to Buy)	$138.03							(4)	02/11/2026	Common Stock	8,000		8,000	D
Stock Option (Right to Buy)	$168.7							(4)	02/09/2027	Common Stock	9,500		9,500	D
Stock Option (Right to Buy)	$161.18							02/15/2019(6)	02/15/2028	Common Stock	7,594		7,594	D
Stock Option (Right to Buy)	$155.92							02/14/2020(6)	02/14/2029	Common Stock	12,000		12,000	D
Stock Option (Right to Buy)	$155.34							02/13/2021(6)	02/13/2030	Common Stock	13,500		13,500	D
Restricted Stock Units	(7)							(8)	(8)	Common Stock	1,670		1,670	D
Performance Units	(7)							(9)	(9)	Common Stock	882		882	D
Performance Units	(7)							(10)	(10)	Common Stock	1,440		1,440	D
Performance Units	(7)							(11)	(11)	Common Stock	1,671		1,671	D

Explanation of Responses:

1. The option was exercised and the underlying shares were sold pursuant to a Rule 10b5-1 Plan.

2. This transaction was executed in multiple trades at prices ranging from $189.76 to $190.71. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

3. This transaction was executed in multiple trades at prices ranging from $190.77 to $191.31. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effectuated.

4. Option fully vested.

5. Exercise of Rule 16b-3 stock option pursuant to a Rule 10b5-1 Plan.

6. Original stock option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.

7. 1 for 1.

8. The restricted stock units may be earned based on the achievement of certain Company goals during fiscal 2020. Assuming continued employment through the end of fiscal 2022, any units earned will then vest in one installment and the shares will be issued shortly thereafter. The target number of units that may be earned is reported above; the maximum number is 200% of the number reported, subject to plan limits.

9. If the Company achieves certain goals over the 2018-2020 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.

10. If the Company achieves certain goals over the 2019-2021 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.

11. If the Company achieves certain goals over the 2020-2022 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits.

	/s/ Ryan S. Lovitz under Power of Attorney for Timothy L. Chambers	02/01/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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