ECOLAB INC. — Director's Dealing 2020

Sep 11, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2020-09-09

Reporting Person: SCHMECHEL DANIEL J (CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-09-09	Common Stock	M	20728	$137.087	Acquired	225312.020	Direct
2020-09-09	Common Stock	F	17083	$202.522	Disposed	208229.02	Direct
2020-09-09	Common Stock	M	8595	$158.515	Acquired	216824.02	Direct
2020-09-09	Common Stock	F	7578	$202.522	Disposed	209247.002	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-09-09	Employee Stock Option (Right to Buy)	$137.087	M	20728	Disposed	2027-12-06	Common Stock (20728)	Direct
2020-09-09	Employee Stock Option (Right to Buy)	$158.515	M	8595	Disposed	2028-12-04	Common Stock (8595)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2919.115	Indirect

Footnotes

F1: Reflects the reporting person's payment of the exercise price and withholding taxes for a stock option issued in accordance with Rule 16b-3 by delivering or withholding shares of Ecolab common stock.

F2: The total includes 0.982 shares acquired by the reporting person on July 17, 2020 by dividend reinvestment pursuant to the Dividend Reinvestment Plan for shareholders of Ecolab sponsored by Computershare Trust Company, N.A.

F3: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of August 31, 2020. Includes 6.488 UNITS acquired since the reporting person's last report. The 2,919.115 UNITS are the equivalent of approximately 5,358 SHARES of the issuer's Common Stock.

F4: 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.