ECOLAB INC. — Director's Dealing 2020

Dec 8, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2020-12-03

Reporting Person: Berger Larry L (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-03	Employee Stock Option (Right to Buy)	$221.410	A	11844	Acquired	2030-12-03	Common Stock (11844)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	29432	Direct
Common Stock	72.052	Indirect

Footnotes

F1: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of November 30, 2020. Includes 0.326 UNITS acquired since the reporting person's last report. (The 72.052 UNITS are the equivalent of approximately 132 SHARES of the issuer's Common Stock.)

F2: The option will be exercisable, on a cumulative basis, as to one-third of the option shares (excluding any fractional portion less than one share), on each of the first and second anniversaries of the date of grant and as to the remaining shares on the third anniversary of the date of grant.