[Form 4] ECOLAB INC. Insider Trading Activity

Ecolab Inc. executive Nicholas J. Alfano exercised stock options and sold shares on the same day.

Rhea-AI Filing Summary

Ecolab Inc. executive Nicholas J. Alfano exercised stock options and sold shares on the same day. He converted 9,501 Employee Stock Options into 9,501 shares of Common Stock at an exercise price of $137.09 per share, then sold 9,501 shares in an open-market transaction at $303.58 per share.

After these transactions, he held 4,721.639 shares of Common Stock directly and 1,481.033 units in the Ecolab Stock Fund of the Ecolab Savings Plan, which the plan reports as the equivalent of approximately 2,715 shares as of January 31, 2026.

Insider Trade Summary

Exercise and Sale: 9,501 shares ($1.58M approx. pre-tax spread)

Exercise and Sale 4 txns

Insider Alfano Nicholas J.

Role EVP & PRES - GLOBAL WATER

Sold 9,501 shs ($2.88M)

Approx. gross sale proceeds $2.88M

Approx. exercise cost $1.30M

Approx. pre-tax spread $1.58M

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (Right to Buy)	9,501	$0.00	$0.00
Exercise	Common Stock	9,501	$137.09	$1.30M
Sale	Common Stock	9,501	$303.58	$2.88M
holding	Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (Right to Buy) — 0 contracts (Direct); Common Stock — 4,721.639 shares (Direct); Common Stock — 1,481.033 shares (Indirect, By Ecolab Savings Plan)

Footnotes (4)

1. F1. The total includes 3.5 shares resulting from automatic dividend reinvestment in transactions exempt pursuant to Rule 16a-11 under Section 16 of the Securities Exchange Act of 1934 since the reporting person's last report.
2. F2. This transaction was executed in multiple trades at prices ranging from $303.49 to $303.65, 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.
3. F3. Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of January 31, 2026. Includes 4.002 UNITS acquired since the reporting person's last report. (The 1,481.033 UNITS are the equivalent of approximately 2,715 SHARES of the issuer's Common Stock.)
4. F4. 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.

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Accepted by SEC EDGAR 02/18/2026 - 04:40 PM Learn about SEC filing dates

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).

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^*

Alfano Nicholas J.

(Last) (First) (Middle)

1 ECOLAB PLACE

(Street)

SAINT 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & PRES - GLOBAL WATER

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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	02/17/2026		M		9,501	A	$137.09	14,222.639(1)	D
Common Stock	02/17/2026		S		9,501	D	$303.58(2)	4,721.639	D
Common Stock								1,481.033(3)	I	By Ecolab Savings Plan

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
Employee Stock Option (Right to Buy)	$137.087	02/17/2026		M			9,501	12/06/2018(4)	12/06/2027	Common stock	9,501	$0	0	D

Explanation of Responses:

1. The total includes 3.5 shares resulting from automatic dividend reinvestment in transactions exempt pursuant to Rule 16a-11 under Section 16 of the Securities Exchange Act of 1934 since the reporting person's last report.

2. This transaction was executed in multiple trades at prices ranging from $303.49 to $303.65, 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.

3. Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of January 31, 2026. Includes 4.002 UNITS acquired since the reporting person's last report. (The 1,481.033 UNITS are the equivalent of approximately 2,715 SHARES of the issuer's Common Stock.)

4. 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.

	/s/ Corinne Lawson, as Attorney-in-Fact for Nicholas J. Alfano	02/18/2026
	** 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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