ECOLAB INC. — Director's Dealing 2014

Dec 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2014-12-03

Reporting Person: Hickey Michael A (Ex.VP & Pres. Institutional)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-03	Employee Stock Option (Right to Buy)	$107.685	A	24471	Acquired	2024-12-03	Common Stock (244471)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	31063.717	Direct
Common Stock	3831.913	Indirect

Footnotes

F1: Includes 9.790 shares acquired by reporting person on April 21, 2014, 9.338 acquired on July 18, 2014 and 9.851 shares acquired on October 20, 2014 by dividend reinvestment under the Dividend Reinvestment Plan for shareholders of Ecolab sponsored by Computershare Trust Company, N.A.

F2: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of November 30, 2014. Includes 41.625 UNITS acquired since the reporting person's last report. (The 3,831.913 UNITS are the equivalent of approximately 7,074 shares of the issuer's Common Stock.)

F3: The option will be 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 shares on the third anniversary of the date of grant.