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: BAKER DOUGLAS M JR (Director, Chairman and CEO)

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	163139	Acquired	2024-12-03	Common Stock (163139)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	344759	Direct
Common Stock	12415	Indirect
Common Stock	69925	Indirect
Common Stock	5327.331	Indirect

Footnotes

F1: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of November 30, 2014. (The 5,327.331 UNITS are the equivalent of approximately 9,834 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.