ECOLAB INC. — Director's Dealing 2014

Mar 11, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2014-03-10

Reporting Person: Mulhere Timothy P (EVP & Pres-Global Water)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-10	Common Stock	M	17200	$34.075	Acquired	28217.8	Direct
2014-03-10	Common Stock	S	17200	$109.4537	Disposed	11017.8	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-10	Employee Stock Option (Right to Buy)	$34.075	M	17200	Disposed	2015-12-07	Common Stock (17200)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1688.049	Indirect

Footnotes

F1: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of February 28, 2014. Includes 2.091 UNITS acquired since the reporting person's last report. (The 1,688.049 UNITS are the equivalent of approximately 3,116 shares of the issuer's Common Stock.)

F2: Option granted under the Ecolab Inc. 2002 Stock Incentive Plan on December 7, 2005. 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.