WATERS CORP /DE/ — Director's Dealing 2017

May 26, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WATERS CORP /DE/ (WAT)
CIK: 0001000697
Period of Report: 2017-05-24

Reporting Person: Rae Elizabeth B (SVP, Global HR)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-24	Common Stock	M	8000	$79.15	Acquired	14129	Direct
2017-05-24	Common Stock	S	8000	$177.32	Disposed	6129	Direct
2017-05-24	Common Stock	M	8000	$87.06	Acquired	14129	Direct
2017-05-24	Common Stock	S	8000	$177.10	Disposed	6129	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-24	Stock Option (Right to Buy)	$79.15	M	8000	Disposed	2021-12-07	Common Stock (8000)	Direct
2017-05-24	Stock Option (Right to Buy)	$87.06	M	8000	Disposed	2022-12-11	Common Stock (8000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3991.09	Indirect
Common Stock	2901.16	Indirect