ECOLAB INC. — Director's Dealing 2018

Dec 8, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2018-12-04

Reporting Person: SCHMECHEL DANIEL J (CFO and Treasurer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-12-04	Employee Stock Option (Right to Buy)	$158.515	A	25787	Acquired	2028-12-04	Common Stock (25787)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	148447.407	Direct
Common Stock	2868.680	Indirect

Footnotes

F1: The total includes 1.188 shares acquired on October 17, 2018 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, 2018. Includes 7.908 UNITS acquired since the reporting person's last report. (The 2,868.680 UNITS are the equivalent of approximately 5,268 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.