Machiel Duijser - Feb 26, 2023 Form 4 Insider Report for ECOLAB INC. (ECL)

Role: EVP & CSCO
Signature: /s/ David F. Duvick, as Attorney-in-Fact for Machiel Duijser
Stock symbol: ECL
Transactions as of: Feb 26, 2023
Transactions value $: -$204,942
Form type: 4
Date filed: 2/28/2023, 03:36 PM
Previous filing: Feb 24, 2023
Next filing: Dec 8, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ECL	Common Stock	Options Exercise	$0	+4.2K	+93.42%	$0.00	8.7K	Feb 26, 2023	Direct
transaction	ECL	Common Stock	Tax liability	-$205K	-1.3K	-14.97%	$157.29	7.4K	Feb 26, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ECL	Restricted Stock Units	Options Exercise		-4.2K	-100%		0	Feb 26, 2023	Common Stock	4.2K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 third (out of three) vesting of units from the grant of 12,608 restricted stock units made on February 26, 2020. The vesting schedule for the 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.

Content

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.

Represents the third (out of three) vesting of units from the grant of 12,608 restricted stock units made on February 26, 2020. The vesting schedule for the 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.