How significant are the Ecolab (ECL) share awards reported by David MacLennan?

The awards are relatively small, totaling 176.19 shares, and appear to be routine director compensation. They increase MacLennan’s direct holdings to 25,426.67 shares and do not involve any reported sales or dispositions of Ecolab common stock in this filing.

Director David MacLennan adds Ecolab (ECL) shares through routine stock awards

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Ecolab Inc. director David MacLennan reported routine equity awards in company stock. On June 30, 2026, he received two acquisitions of common stock totaling 176.19 shares as compensation-related grants, not open-market purchases.

One award covered 46.01 shares at $278.458 per share, and another 130.18-share award was recorded at $0.00 per share. A footnote states that 20.47 of the reported shares were acquired through a dividend reinvestment feature of the Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan. Following these transactions, MacLennan holds 25,426.67 shares directly, plus indirect holdings of 709 shares through sibling's trusts and 3,500 shares through the Kathleen F. MacLennan Revocable Trust.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider MacLennan David

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	130.18	$0.00	--
Grant/Award	Common Stock	46.01	$278.458	$13K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 25,380.66 shares (Direct, null); Common Stock — 3,500 shares (Indirect, By Kathleen F. MacLennan Revocable Trust u/a dated 11/07/2002)

Footnotes (1)

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Key Figures

Grant shares at $278.458: 46.01 shares at $278.458/share Zero-price grant shares: 130.18 shares at $0.00/share Total direct holdings after awards: 25,426.67 shares +3 more

6 metrics

Grant shares at $278.458 46.01 shares at $278.458/share Common Stock award on June 30, 2026

Zero-price grant shares 130.18 shares at $0.00/share Common Stock award on June 30, 2026

Total direct holdings after awards 25,426.67 shares Direct Ecolab common stock after June 30, 2026

Indirect holdings via sibling's trusts 709 shares Indirect Ecolab common stock

Indirect holdings via revocable trust 3,500 shares Indirect Ecolab common stock

Dividend reinvestment shares 20.47 shares Acquired via dividend reinvestment feature

Key Terms

Grant, award, or other acquisition, dividend reinvestment feature, Non-Employee Director Stock Option and Deferred Compensation Plan, indirect ownership

4 terms

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

dividend reinvestment feature financial

"Includes 20.47 shares acquired pursuant to a dividend reinvestment feature"

Non-Employee Director Stock Option and Deferred Compensation Plan financial

"feature of the Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan"

indirect ownership financial

"ownership_type: indirect; nature_of_ownership: By sibling's trusts"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:42 PM Accepted by SEC EDGAR 07/02/2026 - 04:41 PM

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^*

MacLennan David

(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)
06/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/30/2026		A		130.18	A	$0	25,380.66⁽¹⁾	D
Common Stock	06/30/2026		A		46.01	A	$278.458	25,426.67	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Includes 20.47 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	07/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Ecolab (ECL) director David MacLennan report in this Form 4?

David MacLennan reported compensation-related acquisitions of Ecolab common stock, not open-market trades. He received 46.01 shares at $278.458 per share and 130.18 additional shares at zero cost, all recorded as grants or awards on June 30, 2026.

How many Ecolab (ECL) shares does David MacLennan hold after the reported transactions?

After these transactions, David MacLennan holds 25,426.67 Ecolab common shares directly. He also has indirect holdings of 709 shares through sibling’s trusts and 3,500 shares via the Kathleen F. MacLennan Revocable Trust, as reflected in the Form 4 filing.

Were David MacLennan’s Ecolab (ECL) stock acquisitions open-market purchases?

No, the reported acquisitions were grants or awards, not open-market purchases. Both transactions carry the Form 4 code “A,” indicating compensation-related awards, including one 46.01-share grant at $278.458 per share and another 130.18-share grant recorded at zero price.

What does the dividend reinvestment footnote mean in David MacLennan’s Ecolab (ECL) filing?

The footnote explains that 20.47 of the reported shares were acquired via a dividend reinvestment feature. This feature is part of the Ecolab Inc. 2001 Non-Employee Director Stock Option and Deferred Compensation Plan, automatically reinvesting dividends into additional Ecolab shares.