ECOLAB INC. — Director's Dealing 2014

Jan 30, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2014-01-28

Reporting Person: GRUNDHOFER JERRY A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-28	Common Stock	M	6700	$29.29	Acquired	70158.59	Direct
2014-01-28	Common Stock	F	1971	$99.535	Disposed	68187.59	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-28	Stock Option (Right to Buy)	$29.29	M	6700	Disposed	2014-05-07	Common Stock (6700)	Direct

Footnotes

F1: Reflects the reporting person's payment of the exercise price for a stock option issued in accordance with Rule 16b-3 by delivering or withholding shares of Ecolab common stock.