Angela M. Busch - Feb 25, 2024 Form 4 Insider Report for ECOLAB INC. (ECL)

Role: EVP - CORP STRAT & BUS DEV
Signature: /s/ David F. Duvick, as Attorney-in-Fact for Angela M. Busch
Stock symbol: ECL
Transactions as of: Feb 25, 2024
Transactions value $: -$160,495
Form type: 4
Date filed: 2/27/2024, 05:26 PM
Previous filing: Feb 23, 2024
Next filing: Mar 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ECL	Common Stock	Options Exercise		+2.35K	+17.32%		15.9K	Feb 25, 2024	Direct	F1
transaction	ECL	Common Stock	Tax liability	-$160K	-728	-4.58%	$220.46	15.2K	Feb 25, 2024	Direct	F2

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	$0	-2.35K	-50%	$0.00	2.35K	Feb 25, 2024	Common Stock	2.35K		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Represents the third (out of four) vesting of units from the grant of 9,379 restricted stock units made on February 25, 2021. The vesting schedule for the grant provided for the units to vest, subject to continued employment, as to one-fourth of the units (excluding any fractional portion less than one unit), on each of the first, second and third anniversaries of the date of grant and as to the remaining units on the fourth anniversary of the date of grant. Restricted stock units convert into common stock on a one-for-one basis.
F2	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.

Content

Represents the third (out of four) vesting of units from the grant of 9,379 restricted stock units made on February 25, 2021. The vesting schedule for the grant provided for the units to vest, subject to continued employment, as to one-fourth of the units (excluding any fractional portion less than one unit), on each of the first, second and third anniversaries of the date of grant and as to the remaining units on the fourth anniversary of the date of grant. Restricted stock units convert into common stock on a one-for-one basis.

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.