Ecolab (ECL) director exercises 2,300 options and sells 1,265 shares

Rhea-AI Filing Summary

Ecolab Inc. director Tracy B. McKibben reported option and stock transactions in company shares. On February 25, 2026, McKibben exercised a non-employee stock option for 2,300 shares of common stock at a price of $115.075 per share.

On the same date, McKibben then executed an open-market sale of 1,265 shares of common stock at a price of $308.66 per share. After these transactions, McKibben directly owned 11,357.58 shares of Ecolab common stock.

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

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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^*

McKibben Tracy B

(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)
02/25/2026

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	02/25/2026		M		2,300	A	$115.075	12,622.58	D
Common Stock	02/25/2026		S		1,265	D	$308.66	11,357.58	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 Stock Option (Right to Buy)	$115.075	02/25/2026		M			2,300	05/04/2017(1)	05/05/2026	Common Stock	2,300	$0	0	D

Explanation of Responses:

1. The option became 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 last day of the fourth three-month period following its date of grant; 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.

	/s/ Corinne Lawson, as Attorney-in-Fact for Tracy B. McKibben	02/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Ecolab (ECL) director Tracy B. McKibben report in this Form 4?

Tracy B. McKibben reported exercising a non-employee stock option and selling some Ecolab common shares. The filing details an option exercise for 2,300 shares and an open-market sale of 1,265 shares, along with updated direct ownership after these transactions.

How many Ecolab (ECL) shares did Tracy B. McKibben acquire through option exercise?

McKibben acquired 2,300 Ecolab common shares through exercising a non-employee stock option. The option was exercised at a price of $115.075 per share, converting the derivative security into common stock as described by transaction code M in the Form 4.

How many Ecolab (ECL) shares did Tracy B. McKibben sell and at what price?

McKibben sold 1,265 Ecolab common shares in an open-market transaction. The reported sale price was $308.66 per share, classified under transaction code S, which indicates a sale in the open market or a private transaction according to the Form 4 data.

What is Tracy B. McKibben’s Ecolab (ECL) share ownership after these transactions?

After the reported option exercise and subsequent sale, McKibben directly owned 11,357.58 Ecolab common shares. This total reflects ownership following all transactions on February 25, 2026, as shown in the "total shares following transaction" field for the final non-derivative entry.

What does transaction code M mean in the Ecolab (ECL) Form 4 for Tracy B. McKibben?

Transaction code M signifies the exercise or conversion of a derivative security into common stock. In this filing, it reflects McKibben’s exercise of a non-employee stock option for 2,300 shares, moving value from an option award into directly held Ecolab common shares.

How did the Ecolab (ECL) stock option held by Tracy B. McKibben vest?

The option vested cumulatively in four three-month periods after grant, with 25% of the option shares becoming exercisable at the end of each period. The footnote states it would become fully exercisable immediately if a defined Change in Control of the company occurred.