ECOLAB INC. — Director's Dealing 2014

May 16, 2014

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2014-05-08

Reporting Person: Inchaustegui Roberto (EVP & Pres.-Global Serv & Spec)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11487	Direct
Common Stock	1551.358	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$44.91	2018-07-31	Common Stock (37000)		Direct
Employee Stock Option (Right to Buy)	$35.63	2018-12-03	Common Stock (19700)		Direct
Employee Stock Option (Right to Buy)	$45.665	2019-12-02	Common Stock (9600)		Direct
Employee Stock Option (Right to Buy)	$48.055	2020-12-01	Common Stock (10600)		Direct
Employee Stock Option (Right to Buy)	$55.595	2021-12-01	Common Stock (14400)		Direct
Employee Stock Option (Right to Buy)	$71.54	2022-12-05	Common Stock (22800)		Direct
Employee Stock Option (Right to Buy)	$103.265	2023-12-04	Common Stock (18290)		Direct

Footnotes

F1: Option granted under the Ecolab Inc. 2005 Stock Incentive Plan on July 31, 2008. The option became exercisable to 100% of the option shares on the fourth anniversary of the date of grant.

F2: Option granted under the Ecolab Inc. 2005 Stock Incentive Plan on December 3, 2008. 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.

F3: Option granted under the Ecolab Inc. 2005 Stock Incentive Plan on December 2, 2009. 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.

F4: Option granted under the Ecolab Inc. 2010 Stock Incentive Plan on December 1, 2010. 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.

F5: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of April 30, 2014. (The 1,551.358 UNITS are the equivalent of approximately 2,865 shares of the issuer's Common Stock.)

F6: Option granted under the Ecolab Inc. 2010 Stock Incentive Plan on December 1, 2011. The option will become 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.

F7: Option granted under the Ecolab Inc. 2010 Stock Incentive Plan on December 5, 2012. The option will become 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.

F8: Option granted under the Ecolab Inc. 2010 Stock Incentive Plan on December 4, 2013. The option will become 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.