Laurie M. Marsh - Aug 3, 2023 Form 4 Insider Report for ECOLAB INC. (ECL)

Role: EVP - HUMAN RESOURCES
Signature: /s/ David F. Duvick, as Attorney-in-Fact for Laurie M. Marsh
Stock symbol: ECL
Transactions as of: Aug 3, 2023
Transactions value $: -$259,467
Form type: 4
Date filed: 8/4/2023, 04:37 PM
Previous filing: Mar 3, 2023
Next filing: Dec 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ECL	Common Stock	Options Exercise	$0	+4.31K	+24.39%	$0.00	22K	Aug 3, 2023	Direct
transaction	ECL	Common Stock	Tax liability	-$259K	-1.42K	-6.45%	$183.11	20.5K	Aug 3, 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		-4.31K	-33.33%		8.61K	Aug 3, 2023	Common Stock	4.31K		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 first (out of three) vesting of units from the grant of 12,915 restricted stock units made on August 3, 2022. The vesting schedule for the grant provided for the units to vest, subject to continued employment, as to one-third of the units (excluding any fractional portion less than one unit), on each of the first and second anniversaries of the date of grant and as to the remaining units 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 first (out of three) vesting of units from the grant of 12,915 restricted stock units made on August 3, 2022. The vesting schedule for the grant provided for the units to vest, subject to continued employment, as to one-third of the units (excluding any fractional portion less than one unit), on each of the first and second anniversaries of the date of grant and as to the remaining units on the third anniversary of the date of grant. Restricted stock units convert into common stock on a one-for-one basis.