ECOLAB INC. — Director's Dealing 2021

Nov 24, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2021-11-22

Reporting Person: Busch Angela M (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-22	Common Stock	M	2500	$71.540	Acquired	16252	Direct
2021-11-22	Common Stock	S	2500	$238	Disposed	13752	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-11-22	Employee Stock Option (Right to Buy)	$71.540	M	2500	Disposed	2022-12-05	Common Stock (2500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1397.542	Indirect

Footnotes

F1: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of October 31, 2021. Includes 3.008 UNITS acquired since the reporting person's last report. (The 1,397.542 UNITS are the equivalent of approximately 2,561 SHARES of the issuer's Common Stock.)

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.