Laurie M. Marsh - 04 Dec 2023 Form 4 Insider Report for ECOLAB INC. (ECL)

Role: EVP - HUMAN RESOURCES
Signature: /s/ David F. Duvick, as Attorney-in-Facct for Laurie M. Marsh
Issuer symbol: ECL
Transactions as of: 04 Dec 2023
Net transactions value: -$878,092
Form type: 4
Filing time: 05 Dec 2023, 17:46:32 UTC
Previous filing: 04 Aug 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	$1,402,988	+11,917	+58%	$117.73	32,455	04 Dec 2023	Direct
transaction	ECL	Common Stock	Sale	$2,281,081	-11,917	-37%	$191.41	20,538	04 Dec 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	-11,917	-100%	$0.000000^*	0	04 Dec 2023	Common Stock	11,917	$117.73	Direct	F2

* 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 $191.03 to $191.79, 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	Option granted under the Ecolab Inc. 2010 Stock Incentive Plan. 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 is the first anniversary of the date of grant.

Content

This transaction was executed in multiple trades at prices ranging from $191.03 to $191.79, 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.

Option granted under the Ecolab Inc. 2010 Stock Incentive Plan. 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 is the first anniversary of the date of grant.