Ecolab (ECL) director boosts direct holdings to 6,470.89 shares in Form 4

Rhea-AI Filing Summary

Ecolab Inc. director reports routine stock acquisition

A director of Ecolab Inc. (ECL) reported acquiring 128 shares of common stock on 12/31/2025 at a stated price of $0, increasing their beneficial ownership to 6,470.89 shares held directly. The total includes 14.73 shares obtained through a dividend reinvestment feature under an Ecolab non-employee director stock and deferred compensation plan. This filing documents the updated ownership position but does not describe any broader corporate or financial changes at Ecolab.

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

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

NOWELL LIONEL L III

(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)
12/31/2025

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	12/31/2025		A		128	A	$0	6,470.89(1)	D

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 14.73 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 Lionel L. Nowell, III	01/05/2026
	** 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.
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FAQ

What insider transaction did Ecolab Inc. (ECL) report in this filing?

A director of Ecolab Inc. reported acquiring 128 shares of common stock on 12/31/2025, as shown in the non-derivative securities table.

At what price were the new Ecolab (ECL) shares acquired by the director?

The 128 shares of Ecolab common stock reported in this transaction were acquired at a stated price of $0 per share.

How many Ecolab (ECL) shares does the director own after this transaction?

Following the reported transaction, the director beneficially owns 6,470.89 shares of Ecolab common stock in direct ownership.

Does this Ecolab (ECL) Form 4 include any derivative security transactions?

The section for derivative securities is present but shows no specific derivative transactions or holdings reported for this event.

What portion of the Ecolab (ECL) director’s holdings comes from dividend reinvestment?

The reported ownership figure includes 14.73 shares acquired through a dividend reinvestment feature of an Ecolab non-employee director stock and deferred compensation plan.

Is the reporting person in this Ecolab (ECL) Form 4 a director or officer?

The relationship section shows the reporting person is a Director of Ecolab Inc., with that box checked on the form.