ECOLAB INC. — Director's Dealing 2015

Nov 24, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2015-11-24

Reporting Person: Hughes Bryan L (Sr. VP & Corporate Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-11-24	Common Stock	M	4165	$45.24	Acquired	8856	Direct
2015-11-24	Common Stock	F	2445	$119.595	Disposed	6411	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-11-24	Employee Stock Option (Right to Buy)	$45.24	M	4165	Disposed	2016-12-06	Common Stock (4165)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	527.808	Indirect

Footnotes

F1: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of October 31, 2015. Includes 2.898 UNITS acquired since the reporting person's last report. (The 527.808 UNITS are the equivalent of approximately 974 SHARES of the issuer's Common Stock.)

F2: Option granted under the Ecolab Inc. 2002 Stock Incentive Plan on December 6, 2006. 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 shares on the third anniversary of the date of grant.