Form 4: Ecolab Director Exercises Options, Adjusts Holdings

Ecolab Director David MacLennan exercised stock options and subsequently disposed of shares to cover the exercise price and taxes.

Summary

• David MacLennan, a Director at Ecolab Inc. (ECL), engaged in transactions involving the company's common stock on November 12, 2025.
• MacLennan exercised 3,300 non-employee stock options at an exercise price of $115.075 per share.
• Concurrently, 1,451 shares of common stock were disposed of at a price of $262.025 per share to cover the exercise price and tax obligations related to the option exercise.
• Following these transactions, MacLennan directly beneficially owns 22,285.08 shares of common stock.
• Additionally, MacLennan indirectly owns 3,500 shares through the Kathleen F. MacLennan Revocable Trust and 709 shares through sibling's trusts.
• The exercised options were granted with a vesting schedule that began on August 5, 2016, with 25% vesting cumulatively each quarter.

Sentiment

Score: 6

Explanation: The director exercised stock options at a significantly lower price than the market value at the time of disposition, indicating a positive return on the equity grant. The subsequent sale of shares was primarily to cover the exercise price and tax liabilities, a routine event for insider compensation.

Positives

• Director MacLennan exercised stock options, indicating a realization of value from previously granted equity.
• The exercise price of $115.075 is significantly lower than the disposition price of $262.025, reflecting a substantial gain on the exercised options.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-planned, routine transaction rather than a discretionary sale based on new information.

Negatives

• A portion of shares (1,451) was disposed of, reducing the direct beneficial ownership of common stock by the director.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The transaction is a routine insider compensation event and is unlikely to have a significant direct impact on shareholders. The director's continued direct and indirect ownership demonstrates ongoing alignment with shareholder interests.

Key Dates

Keywords

Ecolab, ECL, Form 4, Insider Transaction, Stock Option Exercise, Beneficial Ownership, Director