ECOLAB INC. — Director's Dealing 2021

Aug 31, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2021-08-27

Reporting Person: Marsh Laurie M (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-08-27	Common Stock	M	11536	$119.12	Acquired	26193	Direct
2021-08-27	Common Stock	S	11536	$225.026	Disposed	14657	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-08-27	Employee Stock Option (Right to Buy)	$119.120	M	11536	Disposed	2025-12-02	Common Stock (11536)	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 $224.720 to $225.280, 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 footnote (1) to this Form 4.

F2: 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.