[Form 3] Ecolab, Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Benjamin M. Clark, Executive Vice President - Global Supply Chain of Ecolab Inc. (ECL), filed a Form 3 reporting initial beneficial ownership following an 08/07/2025 event. He directly owns 80.637 shares of common stock and holds employee stock options to buy 1,786 shares (exercisable from 12/06/2024 at $191.03) and 1,711 shares (exercisable from 12/04/2025 at $247.495), plus 8,843 restricted stock units that vest 11/02/2026. The form was signed by Corinne Lawson as attorney-in-fact on 08/22/2025.

Insights

Corporate Governance Expert

TL;DR: Routine initial disclosure by an officer showing direct holdings and standard equity compensation arrangements.

The Form 3 documents an officer-level insider's initial report of holdings: a small direct common stock position, two graded employee stock options with defined exercise prices and schedules, and time-based restricted stock units vesting on a stated date. This filing meets Section 16(a) disclosure requirements and provides transparency on the officer's immediate equity stake and future potential ownership as options vest and RSUs convert.

Compensation Analyst

TL;DR: Equity award structure is typical: multi-year vesting options and RSUs aligned with retention incentives.

The awards include two options with multi-year cliff/cumulative vesting and strike prices disclosed, plus RSUs that vest 100% on the third anniversary. The size of the grants is stated but no dollar-value aggregation or benchmarking is provided in this filing, so assessment of generosity relative to peers cannot be made from this document alone.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Clark Benjamin M.

(Last) (First) (Middle)

1 ECOLAB PLACE

(Street)

SAINT PAUL MN 55102

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/07/2025

3. Issuer Name and Ticker or Trading Symbol
ECOLAB INC. [ ECL ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP - Global Supply Chain

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	80.637	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	12/06/2024(1)	12/06/2033	Common Stock	1,786	$191.03	D
Employee Stock Option (Right to Buy)	12/04/2025(2)	12/04/2024	Common Stock	1,711	$247.495	D
Restricted Stock Units	11/02/2026(3)	11/02/2026	Common Stock	8,843	$0	D

Explanation of Responses:

1. The option, originally for a total of 2,678 shares, became and will be 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.

2. The option will be 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.

3. Each restricted stock unit represents a contingent right to receive one share of Ecolab Inc. common stock. The units will vest, subject to continued employment, as to 100% of the grant amount on November 2, 2026, which is the third anniversary of the date of grant.

	/s/ Corinne Lawson, as Attorney-in-Fact for Benjamin M. Clark	08/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What securities did Benjamin M. Clark report on Form 3 for ECL?

He reported direct ownership of 80.637 common shares, options for 1,786 and 1,711 common shares, and 8,843 RSUs.

When do the reported stock options and RSUs become exercisable or vest?

Options: one series exercisable from 12/06/2024, the other from 12/04/2025; RSUs vest 100% on 11/02/2026.

What are the exercise prices for the employee stock options reported?

The exercise prices are $191.03 for the 1,786-share option and $247.495 for the 1,711-share option.

What is Benjamin M. Clark's role at Ecolab as stated in the filing?

He is listed as Executive Vice President - Global Supply Chain and an officer of the issuer.

Who signed the Form 3 and when was it signed?

The form was signed by Corinne Lawson as attorney-in-fact for Benjamin M. Clark on 08/22/2025.