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: HANDLEY THOMAS W (President and COO)

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	40785	Acquired	2024-12-03	Common Stock (40785)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11825	Direct
Common Stock	35079.155	Indirect
Common Stock	541.707	Indirect

Footnotes

F1: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of November 30, 2014. Includes 4.045 UNITS acquired since the reporting person's last report. (The 541.707 UNITS are the equivalent of approximately 1,000 shares of the issuer's Common Stock.)

F2: 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.