ECOLAB INC. — Director's Dealing 2022

Aug 17, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2022-08-15

Reporting Person: Busch Angela M (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-08-15	Common Stock	M	2500	$71.540	Acquired	19216	Direct
2022-08-15	Common Stock	S	2500	$176.240	Disposed	16716	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-08-15	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	1439.743	Indirect

Footnotes

F1: On February 25, 2022, the reporting person filed a Form 4 reporting the payment of minimum statutory tax obligations incident to the vesting of performance-based restricted stock units in accordance with Rule 16b-3 by withholding 622 shares of Ecolab Common Stock. It was later determined that the number of shares withheld was overcounted by 6 shares as a total of 616 shares were actually withheld. Accordingly, 6 shares have been added to the reporting person's end of period holdings.

F2: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of July 31, 2022. Includes 35.473 UNITS acquired since the reporting person's last report. (The 1,439.743 UNITS are the equivalent of approximately 2,648 SHARES of the issuer's Common Stock.)

F3: 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.