Director Michael Larson receives Ecolab (NYSE: ECL) 137.82-share award

Rhea-AI Filing Summary

Ecolab Inc. director Michael Larson received a stock award of 137.82 shares of common stock on March 31, 2026. The shares were granted at no cash cost as compensation. The total includes 27.25 shares acquired through a dividend reinvestment feature under Ecolab’s 2001 Non-Employee Director Stock Option and Deferred Compensation Plan. Following this grant, Larson directly holds 19,007.5 Ecolab common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LARSON MICHAEL

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	137.82	$0.00	--

Holdings After Transaction: Common Stock — 19,007.5 shares (Direct)

Footnotes (1)

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Key Figures

Shares awarded: 137.82 shares Price per share: $0.0000 Shares after transaction: 19,007.5 shares +1 more

4 metrics

Shares awarded 137.82 shares Common stock grant to director on March 31, 2026

Price per share $0.0000 Reported grant price, indicating compensation award

Shares after transaction 19,007.5 shares Director’s direct Ecolab holdings following the award

Dividend reinvestment shares 27.25 shares Portion of holdings from dividend reinvestment feature

Key Terms

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

3 terms

dividend reinvestment financial

"Includes 27.25 shares acquired pursuant to a dividend reinvestment feature"

Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.

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"

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

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^*

LARSON MICHAEL

(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)
03/31/2026

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	03/31/2026		A		137.82	A	$0	19,007.5(1)	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

Explanation of Responses:

1. Includes 27.25 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 Michael Larson	04/02/2026
	** 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)

FAQ

What did Ecolab (ECL) director Michael Larson report in this Form 4 filing?

Michael Larson reported receiving 137.82 Ecolab common shares as a stock award. The grant was made at no cash cost and increased his direct holdings to 19,007.5 shares, reflecting routine director compensation rather than an open-market stock purchase or sale.

How many Ecolab (ECL) shares does Michael Larson hold after this transaction?

After the award, Michael Larson directly holds 19,007.5 Ecolab common shares. This figure comes from the Form 4’s post-transaction ownership line and reflects only his direct holdings reported in this filing, not any other potential indirect or future positions.

Was Michael Larson’s Ecolab (ECL) stock award an open-market purchase?

No, the Form 4 classifies the transaction under code A as a grant, award, or other acquisition. The reported price per share is $0.0000, indicating compensation-related share issuance rather than an open-market buy where shares are purchased at prevailing market prices.

What role did dividend reinvestment play in Michael Larson’s Ecolab (ECL) shares?

The filing notes that 27.25 of the reported shares were acquired through a dividend reinvestment feature. This feature is part of Ecolab’s 2001 Non-Employee Director Stock Option and Deferred Compensation Plan, automatically using dividends to buy additional fractional shares for participating directors.

What does transaction code A mean in the Ecolab (ECL) Form 4 for Michael Larson?

Transaction code A on the Form 4 indicates a grant, award, or other acquisition of shares. In this case, it reflects a compensation-related stock award of 137.82 Ecolab common shares to director Michael Larson, rather than a discretionary market trade or sale of existing holdings.