John Zillmer boosts Ecolab (NYSE: ECL) stake via option exercise

Rhea-AI Filing Summary

Ecolab Inc. director John J. Zillmer exercised stock options and adjusted his shareholdings. On 02/13/2026 he exercised a non-employee stock option for 2,300 shares of common stock at $115.075 per share. In a related transaction, 879 shares of common stock at $301.02 per share were withheld to cover the option exercise price or related tax obligations, as described in the footnotes. After these transactions, he directly beneficially owned 49,012.24 shares of Ecolab common stock.

Insider Trade Summary

2,300 shares exercised/converted

Mixed 3 txns

Insider ZILLMER JOHN J

Role Director

Type	Security	Shares	Price	Value
Exercise	Non-Employee Stock Option (Right to Buy)	2,300	$0.00	--
Exercise	Common Stock	2,300	$115.075	$265K
Tax Withholding	Common Stock	879	$301.02	$265K

Holdings After Transaction: Non-Employee Stock Option (Right to Buy) — 0 shares (Direct); Common Stock — 49,891.24 shares (Direct)

Footnotes (1)

1. Reflects the reporting person's payment of the exercise price for a stock option issued in accordance with Rule 16b-3 by delivering or withholding shares of Ecolab common stock. 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.

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

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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^*

ZILLMER JOHN J

(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)
02/13/2026

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	02/13/2026		M		2,300	A	$115.075	49,891.24	D
Common Stock	02/13/2026		F(1)		879	D	$301.02	49,012.24	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	02/13/2026		M			2,300	08/05/2016(2)	05/05/2026	Common Stock	2,300	$0	0	D

Explanation of Responses:

1. Reflects the reporting person's payment of the exercise price for a stock option issued in accordance with Rule 16b-3 by delivering or withholding shares of Ecolab common stock.

2. 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 John J. Zillmer	02/17/2026
	** 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 insider transaction did Ecolab (ECL) director John J. Zillmer report?

Ecolab director John J. Zillmer reported exercising a non-employee stock option for 2,300 shares of common stock. The option exercise converted derivative securities into common stock and was accompanied by a share withholding transaction to satisfy the exercise price or related tax obligations, as described in the filing footnotes.

How many Ecolab (ECL) shares did John J. Zillmer acquire through the option exercise?

John J. Zillmer acquired 2,300 shares of Ecolab common stock through exercising a non-employee stock option. The exercise price was $115.075 per share, converting his derivative position into directly held common shares under the company’s non-employee director stock option and deferred compensation plan.

What does the 879-share transaction coded "F" mean in the Ecolab (ECL) Form 4?

The 879-share transaction coded “F” reflects payment of the option exercise price or tax liability using Ecolab common stock. Shares valued at $301.02 each were delivered or withheld rather than paid in cash, in accordance with Rule 16b-3 treatment described in the footnotes.

How many Ecolab (ECL) shares does John J. Zillmer own after these Form 4 transactions?

After the reported transactions, John J. Zillmer beneficially owns 49,012.24 shares of Ecolab common stock directly. This figure incorporates the 2,300 shares received from the option exercise and the 879 shares used to satisfy the exercise price or associated tax obligations.

What happened to the Ecolab (ECL) stock options reported in Table II of the Form 4?

The non-employee stock option for 2,300 Ecolab shares with a $115.075 exercise price was fully exercised on 02/13/2026. Following this exercise, the number of derivative securities beneficially owned became zero, as the option position was converted into common stock under the plan’s vesting terms.

How did the Ecolab (ECL) director stock option vest before exercise?

The option vested cumulatively in 25% increments on the last day of each of the first, second, and third three-month periods after grant, with the remaining shares vesting at the end of the fourth three-month period, or fully upon a qualifying Change in Control as defined in the plan.