ECOLAB INC. — Director's Dealing 2020

Nov 9, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2020-11-06

Reporting Person: McCormick Michael C. (EVP, GC & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-06	Common Stock	M	7647	$107.685	Acquired	65659.162	Direct
2020-11-06	Common Stock	S	7647	$199.159	Disposed	58012.162	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-06	Employee Stock Option (Right to Buy)	$107.685	M	7647	Disposed	2024-12-03	Common Stock (7647)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $199.00 to $199.435, 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: The option became 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. The date listed in the "Date Exercisable" column represents the first anniversary date of the date of grant.