ECOLAB INC. — Director's Dealing 2016

Dec 9, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2016-12-07

Reporting Person: SCHMECHEL DANIEL J (Chief Financial Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-12-07	Employee Stock Option (Right to Buy)	$117.73	A	35750	Acquired	2026-12-07	Common Stock (35750)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	130525.673	Direct
Common Stock	2803.856	Indirect

Footnotes

F1: The total includes 1.251 shares acquired by the reporting person on October 15, 2016, by dividend reinvestment under the Dividend Reinvestment Plan for shareholders of Ecolab sponsored by Computershare Trust Company, N.A.

F2: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of November 30, 2016. Includes 8.296 UNITS acquired since the reporting person's last report. (The 2,803.856 UNITS are the equivalent of approximately 5,169 SHARES of the issuer's Common Stock.)

F3: The option will be exercisable, on a cumulative basis, as to one-third of the option shares (excluding any fractional portion less than one share), on each of the first and second anniversaries of the date of grant and as to the remaining shares on the third anniversary of the date of grant.