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: Hughes Bryan L (Sr. VP & Corporate Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-22	Common Stock	A	710	$0.00	Acquired	8210.242	Direct
2017-02-22	Common Stock	F	277	$122.89	Disposed	7933.242	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	535.936	Indirect

Footnotes

F1: The total includes 0.085 shares acquired on January 20, 2017 by dividend reinvestment under the Dividend Reinvestment Plan for shareholders of Ecolab sponsored by Computershare Trust Company, N.A.

F2: 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.

F3: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of January 31, 2017. Includes 1.642 UNITS acquired since the reporting person's last report. (The 535.936 UNITS are the equivalent of approximately 988 SHARES of the issuer's Common Stock.)