ECOLAB INC. — Director's Dealing 2021

Jan 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2020-12-31

Reporting Person: MacLennan David (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-31	Common Stock	A	133.24	—	Acquired	9399	Direct
2020-11-12	Common Stock	G	175	—	Acquired	284	Indirect
2020-11-19	Common Stock	G	425	—	Acquired	709	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3500	Indirect

Footnotes

F1: Includes 108 shares of Ecolab common stock received as a distribution from the Everett W. MacLennan Irrevocable Trust and representing the reporting person's pro rata interest in shares of Ecolab common stock held by the trust. In prior reports, the reporting person reported indirect beneficial ownership of 435 shares of Ecolab common stock held by this trust.

F2: Includes 175 shares of Ecolab common stock received as a distribution from the Everett MacLennan 1977 Family Trust and 425 shares of Ecolab common stock received as a distribution from the Second Amendment to and Restatement of Mary Ann MacLennan Revocable Trust Agreement dated May 19, 2015, in each case representing the reporting person's distributable pro rata interest in the shares of Ecolab common stock held by the trusts.

F3: Includes 8.22 shares acquired pursuant to a dividend reinvestment feature of the Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan.

F4: The shares are held in three trusts for the benefit of one of the reporting person's siblings. The amount includes 109 shares of Ecolab common stock received by one of the sibling's trusts as a pro-rata distribution from the Everett W. MacLennan Irrevocable Trust. In prior reports, the reporting person reported indirect beneficial ownership of 435 shares of Ecolab common stock held by the Everett W. MacLennan Irrevocable Trust.