Christophe Beck - 05 May 2023 Form 4 Insider Report for ECOLAB INC. (ECL)

Role: CHAIRMAN & CEO, Director
Signature: /s/ David F. Duvick, as Attorney-in-Fact for Christophe Beck
Issuer symbol: ECL
Transactions as of: 05 May 2023
Net transactions value: -$3,309,168
Form type: 4
Filing time: 05 May 2023, 18:24:42 UTC
Previous filing: 03 Mar 2023
Next filing: 08 Dec 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ECL	Common Stock	Options Exercise	$2,667,335	+25,830	+42%	$103.26	87,493	05 May 2023	Direct
transaction	ECL	Common Stock	Sale	$4,887,325	-28,196	-32%	$173.33	59,297	05 May 2023	Direct	F1
transaction	ECL	Common Stock	Sale	$1,089,178	-6,254	-11%	$174.16	53,043	05 May 2023	Direct	F2
holding	ECL	Common Stock						1,485	05 May 2023	By Ecolab Savings Plan	F3

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	Employee Stock Option (Right to Buy)	Options Exercise	$0	-25,830	-100%	$0.000000^*	0	05 May 2023	Common Stock	25,830	$103.26	Direct	F4

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

Explanation of Responses:

Id	Content
F1	This transaction was executed in multiple trades at prices ranging from $172.870 to $173.865, inclusive. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F2	This transaction was executed in multiple trades at prices ranging from $173.870 to $174.590, inclusive. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F3	Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of April 30, 2023. Includes 58.390 UNITS acquired since the reporting person's last report. (The 1,484.776 UNITS are the equivalent of approximately 2,734 SHARES of the issuer's Common Stock.)
F4	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 shares on the third anniversary of the date of grant. The date listed in the "Date Exercisable" column represents the first anniversary date of the date of grant.