ECOLAB INC. — Director's Dealing 2017

Feb 24, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2017-02-22

Reporting Person: Mulhere Timothy P (EVP & Regions President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-22	CommonStock	A	4735	$0.00	Acquired	17460.393	Direct
2017-02-22	Common Stock	F	1623	$122.89	Disposed	15837.393	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1789.403	Indirect

Footnotes

F1: Reflects the reporting person's payment of minimum statutory tax obligations by withholding shares of Ecolab Common Stock incident to the vesting of performance-based restricted stock units in accordance with Rule 16b-3.

F2: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of January 31, 2017. Includes 7.650 UNITS acquired since the reporting person's last report. (The 1,789.403 UNITS are the equivalent of approximately 3,297 SHARES of the issuer's Common Stock.)