ECOLAB INC. — Director's Dealing 2020

Jun 5, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2020-06-04

Reporting Person: SCHMECHEL DANIEL J (CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-06-04	Common Stock	M	32628	$107.685	Acquired	211757.020	Direct
2020-06-04	Common Stock	F	23580	$219.625	Disposed	188177.020	Direct
2020-06-04	Common Stock	M	32685	$119.120	Acquired	220862.020	Direct
2020-06-04	Common Stock	F	24547	$219.625	Disposed	196315.020	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-06-04	Employee Stock Option (Right to Buy)	$107.685	M	32628	Disposed	2024-12-03	Common Stock (32628)	Direct
2020-06-04	Employee Stock Option (Right to Buy)	$119.120	M	32685	Disposed	2025-12-02	Common Stock (32685)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2912.627	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: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of May 31, 2020. Includes 7.743 UNITS acquired since the reporting person's last report. The 2,912.627 UNITS are the equivalent of approximately 5,339 SHARES of the issuer's Common Stock.)

F3: 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.