ECOLAB INC. — Director's Dealing 2020

Dec 4, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2020-12-02

Reporting Person: BECK BARBARA (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-02	Common Stock	M	3800	$63.995	Acquired	30621.32	Direct
2020-12-02	Common Stock	M	3200	$84.265	Acquired	33821.32	Direct
2020-12-02	Common Stock	M	2400	$104.85	Acquired	36221.32	Direct
2020-12-02	Common Stock	M	2200	$112.745	Acquired	38421.32	Direct
2020-12-02	Common Stock	M	2300	$115.075	Acquired	40721.32	Direct
2020-12-02	Common Stock	S	7449	$221.821	Disposed	33272.32	Direct
2020-12-02	Common Stock	S	6451	$222.770	Disposed	26821.32	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-02	Non-Employee Stock Option (Right to Buy)	$63.995	M	3800	Disposed	2022-05-03	Common Stock (3800)	Direct
2020-12-02	Non-Employee Stock Option (Right to Buy)	$84.265	M	3200	Disposed	2023-05-02	Common Stock (3200)	Direct
2020-12-02	Non-Employee Stock Option (Right to Buy)	$104.850	M	2400	Disposed	2024-05-08	Common Stock (2400)	Direct
2020-12-02	Non-Employee Stock Option (Right to Buy)	$112.745	M	2200	Disposed	2025-05-07	Common Stock (2200)	Direct
2020-12-02	Non-Employee Stock Option (Right to Buy)	$115.075	M	2300	Disposed	2026-05-05	Common Stock (2300)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $221.34 to $222.31, inclusive. 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 effected.

F2: This transaction was executed in multiple trades at prices ranging from $222.37 to $223.26, inclusive. 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 effected.

F3: The option became exercisable, on a cumulative basis, as to 25% of the option shares (excluding any fractional portion less than one share), on the last day of each of the first, second and third three-month periods following its date of grant and as to the remaining shares on the last day of the fourth three-month period following its date of grant. The date listed in the "Date Exercisable" column represents the first vesting date.