ECOLAB INC. — Director's Dealing 2020

Feb 25, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2020-02-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-20	Common Stock	M	4900	$71.54	Acquired	59430.162	Direct
2020-02-20	Common Stock	S	2050	$205.629	Disposed	57380.162	Direct
2020-02-20	Common Stock	S	1550	$206.502	Disposed	55830.162	Direct
2020-02-20	Common Stock	S	1150	$207.915	Disposed	54680.162	Direct
2020-02-20	Common Stock	S	150	$208.523	Disposed	54530.162	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-20	Employee Stock Option (Right to Buy)	$71.54	M	4900	Disposed	2022-12-05	Common Stock (4900)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $205.130 to $206.120, 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 $206.140 to $207.090, 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: This transaction was executed in multiple trades at prices ranging from $207.455 to $208.440, 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.

F4: This transaction was executed in multiple trades at prices ranging from $208.490 to $208.590, 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.

F5: 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.