[Form 4] ECOLAB INC. Insider Trading Activity

Rhea-AI Filing Summary

Ecolab Inc. director Lionel L. Nowell III reported a routine compensation-related equity award. He received 732 Non-Employee Director stock options, each giving the right to buy one share of common stock at an exercise price of $247.70 and expiring on May 15, 2036.

The options vest in four steps: 25% on each of the last days of the first three three‑month periods after the grant, with the remaining shares vesting on the earlier of the last day of the fourth three‑month period or the company’s next annual meeting. The footnote states all options become fully exercisable if a defined Change in Control occurs. Following these updates, Nowell directly holds 6,625.38 shares of Ecolab common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider NOWELL LIONEL L III

Role null

Type	Security	Shares	Price	Value
Grant/Award	Non-Employee Director Stock Option (Right to Buy)	732	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Non-Employee Director Stock Option (Right to Buy) — 732 shares (Direct, null); Common Stock — 6,625.38 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Director stock options granted: 732 options Exercise price: $247.70 per share Underlying shares: 732 shares +3 more

6 metrics

Director stock options granted 732 options Non-Employee Director Stock Option grant on May 15, 2026

Exercise price $247.70 per share Conversion or exercise price for newly granted options

Underlying shares 732 shares Common Stock underlying the director stock options

Option expiration date May 15, 2036 Expiration of Non-Employee Director stock options

Common shares held after 6,625.38 shares Total Ecolab common stock directly owned following transactions

Initial vesting fraction 25% of option shares Vests on last day of each of first three three-month periods

Key Terms

Non-Employee Director Stock Option, Change in Control, Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan, Date Exercisable

4 terms

Non-Employee Director Stock Option financial

"Non-Employee Director Stock Option (Right to Buy)"

Change in Control financial

"if a Change in Control of the Company will occur, then the option"

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan financial

"as that term is defined in the Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan"

Date Exercisable financial

"The date listed in the Date Exercisable column represents the first vesting date."

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).

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 MINNESOTA 55102

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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

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

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

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								6,625.38	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
Non-Employee Director Stock Option (Right to Buy)	$247.7	05/15/2026		A		732		08/15/2026(1)	05/15/2036	Common Stock	732	$0	732	D

Explanation of Responses:

1. The option will become exercisable, on a cumulative basis, as to 25% of the option shares (excluding any fractional portion less than one share), on the last day of each of the first, second and third three-month periods following its date of grant and as to the remaining shares on the earlier of the last day of the fourth three-month period following its date of grant or the company's next annual meeting date; provided, however, that if a Change in Control of the Company (as that term is defined in the Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan) will occur, then the option will become immediately exercisable in full. The date listed in the Date Exercisable column represents the first vesting date.

	/s/ Corinne Lawson, as Attorney-in-Fact for Lionel L. Nowell, III	05/19/2026
	** 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.
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.
* Form 4: SEC 1474 (03-26)