ECOLAB INC. — Director's Dealing 2020

Feb 28, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2020-02-26

Reporting Person: Beck Christophe (President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-26	Common Stock	A	5243	—	Acquired	33909	Direct
2020-02-26	Common Stock	F	1626	$195.74	Disposed	32283	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1154.171	Indirect

Footnotes

F1: Reflects the reporting person's payment of minimum statutory tax obligations by withholding shares of Ecolab Common Stock incident to the vesting of performance-based restricted stock units in accordance with Rule 16b-3.

F2: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of January 31, 2020. Includes 18.779 UNITS acquired since the reporting person's last report.(The 1,154.171 UNITS are the equivalent of approximately 2,116 SHARES of the issuer's Common Stock.)