Michael Larson - Apr 5, 2023 Form 4 Insider Report for ECOLAB INC. (ECL)

Role: Director
Signature: /s/ David F. Duvick, as Attorney-in-Fact for Michael Larson
Stock symbol: ECL
Transactions as of: Apr 5, 2023
Transactions value $: -$269,525
Form type: 4
Date filed: 4/7/2023, 06:09 PM
Previous filing: Apr 4, 2023
Next filing: Apr 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ECL	Common Stock	Options Exercise	$270K	+3.2K	+27.68%	$84.27	14.8K	Apr 5, 2023	Direct
transaction	ECL	Common Stock	Tax liability	-$270K	-1.63K	-11.06%	$165.15	13.1K	Apr 5, 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	Non-Employee Stock Option (Right to Buy)	Options Exercise	-$270K	-3.2K	-100%	$84.27	0	Apr 5, 2023	Common Stock	3.2K	$84.27	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 the exercise price for a stock option issued in accordance with Rule 16b-3 by delivering or withholding shares of Ecolab common stock.
F2	The option became exercisable, on a cumulative basis, as to 25% of the option shares (excluding any fractional portion less than one share), on the last day of each of the first, second and third three-month periods following its date of grant and as to the remaining shares on the last day of the fourth three-month period following its date of grant. The date listed in the "Date Exercisable" column represents the first vesting date.

Content

Reflects the reporting person's payment of the exercise price for a stock option issued in accordance with Rule 16b-3 by delivering or withholding shares of Ecolab common stock.

The option became exercisable, on a cumulative basis, as to 25% of the option shares (excluding any fractional portion less than one share), on the last day of each of the first, second and third three-month periods following its date of grant and as to the remaining shares on the last day of the fourth three-month period following its date of grant. The date listed in the "Date Exercisable" column represents the first vesting date.