ECOLAB INC. — Director's Dealing 2018

Aug 29, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2018-08-27

Reporting Person: HIGGINS ARTHUR J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-08-27	Common Stock	M	4500	$47.475	Acquired	21363.12	Direct
2018-08-27	Common Stock	M	4200	$51.735	Acquired	25563.12	Direct
2018-08-27	Common Stock	S	8700	$149.764	Disposed	16863.12	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-08-27	Non-Employee Director Stock Option (Right to Buy)	$47.475	M	4500	Disposed	2020-05-06	Common Stock (4500)	Direct
2018-08-27	Non-Employee Director Stock Option (Right to Buy)	$51.735	M	4200	Disposed	2021-05-05	Common Stock (4200)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $149.75 to $149.84, inclusive. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: The option became exercisable, on a cumulative basis, as to 25% of the option shares (excluding any fractional portion less than one share), on the last day of each of the first, second and third three-month periods following its date of grant and as to the remaining shares on the last day of the fourth three-month period following its date of grant. The date listed in the "Date Exercisable" column represents the first vesting date.