ECOLAB INC. — Director's Dealing 2021

Dec 1, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2021-11-29

Reporting Person: McCormick Michael C. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-29	Common Stock	M	13819	$137.087	Acquired	64640.162	Direct
2021-11-29	Common Stock	S	13819	$227.367	Disposed	50821.162	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-11-29	Employee Stock Option (Right to Buy)	$137.087	M	13819	Disposed	2027-12-06	Common Stock (13819)	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $226.932 to $227.780, inclusive. The reporting person undertakes to provide to Ecolab Inc., any security holder of Ecolab Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F2: Option granted under the Ecolab Inc. 2010 Stock Incentive Plan. 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 option shares on the third anniversary of the date of grant. The date listed in the "Date Exercisable" column represents the first anniversary of the date of grant.