ECOLAB INC. — Director's Dealing 2021

Mar 1, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2021-02-26

Reporting Person: Duijser Machiel (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-26	Common Stock	M	4202	—	Acquired	4345	Direct
2021-02-26	Common Stock	F	1297	$211.15	Disposed	3048	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-26	Restricted Stock Units	$	M	4202	Disposed	2023-02-26	Common Stock (4202)	Direct

Footnotes

F1: Reflects the reporting person's payment of minimum statutory tax obligations by withholding shares of Ecolab Common Stock incident to the vesting of restricted stock units in accordance with Rule 16b-3.

F2: Represents the first (out of three) vesting of units from an initial grant of 12,608 restricted stock units made on February 26, 2020. The vesting schedule for the original grant provided for the units to vest, subject to the reporting person's continued employment, as to one-third of the grant amount (excluding any factional 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. Restricted stock units convert into common stock on a one-for-one basis.