Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
  Busch Angela M
2. Date of Event Requiring Statement (Month/Day/Year)
05/03/2018
3. Issuer Name and Ticker or Trading Symbol
ECOLAB INC. [ECL]
(Last)
(First)
(Middle)
1 ECOLAB PLACE
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP - Corporate Development
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

SAINT PAUL, MN 55102
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 17,970
D
 
Common Stock 1,284.986 (1)
I
By Ecolab Savings Plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) 12/03/2009(2) 12/03/2018 Common Stock 6,000 $ 35.63 D  
Employee Stock Option (Right to Buy) 12/01/2011(2) 12/01/2020 Common Stock 9,600 $ 48.055 D  
Employee Stock Option (Right to Buy) 12/01/2012(3) 12/01/2021 Common Stock 13,400 $ 55.595 D  
Employee Stock Option (Right to Buy) 12/05/2013(3) 12/05/2022 Common Stock 9,800 $ 71.54 D  
Employee Stock Option (Right to Buy) 12/04/2014(3) 12/04/2023 Common Stock 6,460 $ 103.265 D  
Employee Stock Option (Right to Buy) 12/03/2015(3) 12/03/2024 Common Stock 6,118 $ 107.685 D  
Employee Stock Option (Right to Buy) 12/02/2016(3) 12/02/2025 Common Stock 7,690 $ 119.12 D  
Employee Stock Option (Right to Buy) 12/07/2017(3) 12/07/2026 Common Stock 7,944 $ 117.73 D  
Employee Stock Option (Right to Buy) 12/06/2018(3) 12/06/2027 Common Stock 6,910 $ 137.087 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Busch Angela M
1 ECOLAB PLACE
SAINT PAUL, MN 55102
      SVP - Corporate Development  

Signatures

/s/ David F. Duvick, as Attorney-in-Fact for Angela M. Busch 05/14/2018
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of April 30, 2018. (The 1,284.986 UNITS are the equivalent of approximately 2,361 SHARES of the issuer's Common Stock.)
(2) Option granted under the Ecolab Inc. 2005 Stock Incentive Plan. The option became 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 option shares on the third anniversary of the date of grant. The date listed is the first anniversary of the date of grant.
(3) Option granted under the Ecolab Inc. 2010 Stock Incentive Plan. The option became or becomes 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 option shares on the third anniversary of the date of grant. The date listed is the first anniversary of the date of grant.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.