LARSON MICHAEL 4

4 · ECOLAB INC. · Filed Mar 30, 2026

AI-generated summary of this filing

Updated Mar 30, 2026

Ecolab (ECL) Director Michael Larson Exercises Options, Sells Shares

What Happened

Michael Larson, a director of Ecolab Inc. (ECL), exercised stock options on 2026-03-27 to acquire 2,300 shares (code M). The exercise is reported as an acquisition valued at $264,673 (2,300 shares × $115.08).
To satisfy the exercise price and tax withholding (code F), 1,006 shares were delivered/withheld and disposed at $262.88 per share for a reported value of $264,462. A derivative line shows the option converted/canceled (2,300 shares at $0.00).
Net result: 2,300 shares exercised minus 1,006 shares withheld = 1,294 net shares retained by the insider.

Key Details

Transaction date: March 27, 2026; Filing date: March 30, 2026 (timely).
Exercise details: 2,300 shares acquired at $115.08 per share (total reported $264,673).
Withholding/tax payment: 1,006 shares withheld/disposed at $262.88 per share (total reported $264,462).
Net shares retained after the transactions (based on reported lines): +1,294 shares.
Footnotes: F1 confirms shares were delivered/withheld to pay exercise price/taxes; F2 explains the option's vesting schedule (25% vesting each quarter over four quarters; the date given is the first vesting date).
Transaction codes: M = option exercise; F = tax/exercise payment via share withholding. No late filing noted.

Context

This was a cashless-style exercise where shares were withheld to cover the exercise price/taxes rather than an open-market sale for cash. That is a common, administrative way to exercise options and does not by itself indicate a directional view on the stock.
The filing shows the option was exercisable per the stated vesting schedule (footnote F2). No additional speculative commentary on motives is provided.

Form 4

Period: 2026-03-27

Director

Transactions

Exercise/Conversion
Common Stock
2026-03-27$115.08/sh+2,300$264,673→ 19,848.43 total
Tax Payment
Common Stock
[F1]
2026-03-27$262.88/sh−1,006$264,462→ 18,842.43 total
Exercise/Conversion
Non-Employee Stock Option (Right to Buy)
[F2]
2026-03-27−2,300→ 0 total
Exercise: $115.08From: 2016-08-05Exp: 2026-05-05→ Common Stock (2,300 underlying)

Footnotes (2)

[F1]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.
[F2]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. The date listed in the "Date Exercisable" column represents the first vesting date.

Signature

/s/ Corinne Lawson, as Attorney-in-Fact for Michael Larson|2026-03-30

1 file