ECOLAB INC. — Director's Dealing 2018

Mar 13, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2018-03-09

Reporting Person: BILLER LESLIE S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-09	Common Stock	M	4200	$45.965	Acquired	68535.84	Direct
2018-03-09	Common Stock	F	1436	$134.350	Disposed	67099.84	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-03-09	Non-Employee Director Stock Option (Right to Buy)	$45.965	M	4200	Disposed	2018-05-02	Common Stock (4200)	Direct

Footnotes

F1: Reflects the reporting person's payment of the exercise price and withholding taxes for a stock option issued in accordance with Rule 16b-3 by delivering or withholding shares of Ecolab common stock.

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.