ECOLAB INC. — Director's Dealing 2015

Dec 4, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2015-12-02

Reporting Person: Mulhere Timothy P (EVP & Regions President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-02	Employee Stock Option (Right to Buy)	$119.12	A	23071	Acquired	2025-12-02	Common Stock (23071)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13047.393	Direct
Common Stock	1745.567	Indirect

Footnotes

F1: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of November 30, 2015. Includes 9.597 UNITS acquired since the reporting person's last report. (The 1,745.567 UNITS are the equivalent of approximately 3,221 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.