Ecolab Director Reports Direct and Indirect Holdings Increase

Rhea-AI Filing Summary

David W. MacLennan, a director of Ecolab Inc. (ECL), reported purchases of company common stock on 09/30/2025. He directly acquired 123.23 shares at $0 (received via a plan) and 42.22 shares at $273.87, bringing his direct ownership to 20,436.08 shares. The filing also discloses 3,500 shares held indirectly by the Kathleen F. MacLennan Revocable Trust and 709 shares held indirectly by sibling trusts. The report notes that 17.14 of the acquired shares were from a dividend reinvestment feature of the company’s 2001 Non-Employee Director Stock Option and Deferred Compensation Plan. The Form 4 was signed by an attorney-in-fact on behalf of Mr. MacLennan on 10/02/2025.

Positive

• Director purchases reported: 165.45 direct shares acquired on 09/30/2025
• Dividend reinvestment used: 17.14 shares acquired via the Non-Employee Director plan
• Substantial indirect holdings disclosed: 3,500 shares in a family trust and 709 shares in sibling trusts

Negative

• None.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider MacLennan David

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	123.23	$0.00	--
Grant/Award	Common Stock	42.22	$273.87	$12K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 20,393.86 shares (Direct); Common Stock — 3,500 shares (Indirect, By Kathleen F. MacLennan Revocable Trust u/a dated 11/07/2002)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

MacLennan David

(Last) (First) (Middle)

C/O ECOLAB INC.

1 ECOLAB PLACE

(Street)

ST. PAUL MN 55102

(City) (State) (Zip)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/30/2025		A		123.23	A	$0	20,393.86(1)	D
Common Stock	09/30/2025		A		42.22	A	$273.87	20,436.08	D
Common Stock								3,500	I	By Kathleen F. MacLennan Revocable Trust u/a dated 11/07/2002
Common Stock								709	I	By sibling's trusts

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 17.14 shares acquired pursuant to a dividend reinvestment feature of the Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan.

	/s/ Corinne Lawson, as Attorney-in-Fact for David W. MacLennan	10/02/2025
	** 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 4 (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 insider transactions did Ecolab (ECL) report on the Form 4?

Director David W. MacLennan reported direct purchases of 123.23 shares (plan acquisition) and 42.22 shares at $273.87 on 09/30/2025.

How many Ecolab shares does David MacLennan beneficially own after the transaction?

The filing shows direct beneficial ownership of 20,436.08 shares following the reported transactions.

Are there any indirect holdings disclosed for the reporting person?

Yes. The report discloses 3,500 shares held indirectly by the Kathleen F. MacLennan Revocable Trust and 709 shares held indirectly by sibling trusts.

Did any of the acquired shares come from a dividend reinvestment plan?

Yes. The filing states 17.14 shares were acquired pursuant to a dividend reinvestment feature of the 2001 Non-Employee Director Stock Option and Deferred Compensation Plan.

When was the Form 4 signed and by whom?

The Form 4 was signed on behalf of Mr. MacLennan by Corinne Lawson, as Attorney-in-Fact, on 10/02/2025.