Alexander A. de Boo - 13 Nov 2023 Form 4 Insider Report for ECOLAB INC. (ECL)

Role: EVP & PRES - GLOBAL MARKETS
Signature: /s/ David F. Duvick, as Attorney-in-Fact for Alexander A. De Boo
Issuer symbol: ECL
Transactions as of: 13 Nov 2023
Net transactions value: -$61,706
Form type: 4
Filing time: 15 Nov 2023, 16:40:12 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	$222,020	+2,150	+127%	$103.26	3,847	13 Nov 2023	Direct
transaction	ECL	Common Stock	Tax liability	$283,726	-1,592	-41%	$178.22	2,255	13 Nov 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	Employee Stock Option (Right to Buy)	Options Exercise	$0	-2,150	-100%	$0.000000^*	0	13 Nov 2023	Common Stock	2,150	$103.26	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 and withholding taxes 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 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 grant.