SHAREHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2022

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

10. SHAREHOLDERS’ EQUITY

Share Repurchase Authorization

In February 2015, the Company’s Board of Directors authorized the repurchase of up to 20,000,000 shares of its common stock, including shares to be repurchased under Rule 10b5–1. As of September 30, 2022, 3,404,297 shares remained to be repurchased under the Company’s repurchase authorization. The Company intends to repurchase all shares under its authorization, for which no expiration date has been established, in open market or privately negotiated transactions, subject to market conditions.

Subsequent Event

In November 2022, the Company’s Board of Director's authorized the repurchase up to 10 million additional shares of Ecolab common stock.

Share Repurchases

During the first nine months of 2022, the Company reacquired 2,545,822 shares of its common stock, of which 2,445,890 related to share repurchases through open market and 99,932 related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units.

During the first nine months of 2021, the Company reacquired 367,141 shares of its common stock, of which 261,447 related to share repurchases through open market and 105,694 related to shares withheld for taxes on the exercise of stock options and the vesting of stock awards and units.

The Inflation Reduction Act (IRA) was signed into U.S. law on August 16, 2022 and is effective January 1, 2023. The IRA includes an excise tax on the repurchase of corporate stock. The Company does not anticipate the excise tax to have a material impact on the Company’s financial statements.