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: HANDLEY THOMAS W (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-22	Common Stock	A	9470	$0.00	Acquired	17231.664	Direct
2017-02-22	Common Stock	F	3402	$122.89	Disposed	13829.664	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	27675	Indirect
Common Stock	75556.155	Indirect
Common Stock	717	Indirect
Common Stock	717	Indirect
Common Stock	556.470	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 1.703 UNITS acquired since the reporting person's last report. (The 556.470 UNITS are the equivalent of approximately 1,025 SHARES of the issuer's Common Stock.)