ECOLAB INC. — Director's Dealing 2014

Feb 22, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2014-02-20

Reporting Person: Blanco Alex N (EVP and Chief Supply Chain Off)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-20	Common Stock	M	3646	$0.00	Acquired	3646	Direct
2014-02-20	Common Stock	F	1251	$101.595	Disposed	2395	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-20	Restricted Stock Units	$	M	3646	Disposed	2016-02-20	Common Stock (3646)	Direct

Footnotes

F1: Reflects the reporting person's payment of minimum statutory tax obligations by withholding shares of Ecolab Common Stock incident to the vesting of restricted stock units in accordance with Rule 16b-3.

F2: Each restricted stock unit was the economic equivalent of one share of Ecolab Common Stock and was settled for an equivalent number of shares of Ecolab Common Stock.

F3: The units vest, subject to continued employment, as to one-third of the grant amount (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. The date of grant was February 20, 2013.