ECOLAB INC. — Director's Dealing 2021

Sep 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2021-09-09

Reporting Person: Berger Larry L (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-09-09	Common Stock	M	8000	$117.73	Acquired	33069	Direct
2021-09-09	Common Stock	F	5652	$229.30	Disposed	27417	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-09-09	Employee Stock Option (Right to Buy)	$117.73	M	8000	Disposed	2026-12-07	Common Stock (15889)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	72.531	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 August 31, 2021. Includes 0.16 UNITS acquired since the reporting person's last report. (The 72.531 UNITS are the equivalent of approximately 133 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 grant.