ECOLAB INC. — Director's Dealing 2018

Feb 28, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2018-02-26

Reporting Person: LAVANDIER BRUNO (SVP & Corporate Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-26	Common Stock	M	2875	—	Acquired	11273	Direct
2018-02-26	Common Stock	F	830	$131.530	Disposed	10443	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-26	Restricted Stock Units	$	M	2875	Disposed	2018-02-26	Common Stock (2875)	Direct

Footnotes

F1: Restricted stock units convert into common stock on a one-for-one basis.

F2: Reflects the reporting person's payment of minimum statutory tax obligations by withholding shares of Ecolab Common Stock incident to the vesting of restricted stock units in accordance with Rule 16b-3.

F3: On February 26, 2015, the reporting person was granted 2,875 restricted stock units vesting to 100% of the units on the third anniversary of the date of grant, subject to continued employment.