ECOLAB INC. — Director's Dealing 2015

Nov 17, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2015-11-13

Reporting Person: Beck Christophe (EVP & Pres-Global Water)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-11-13	Common Stock	M	21250	$49.42	Acquired	34127	Direct
2015-11-13	Common Stock	F	14950	$115.54	Disposed	19177	Direct
2015-11-13	Common Stock	M	20000	$35.63	Acquired	39177	Direct
2015-11-13	Common Stock	F	12834	$115.54	Disposed	26343	Direct
2015-11-13	Common Stock	S	13430	$114.83	Disposed	12913	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-11-13	Common Stock	$49.42	M	21250	Disposed	2017-12-05	Common Stock (21250)	Direct
2015-11-13	Common Stock	$35.63	M	20000	Disposed	2018-12-03	Common Stock (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1085.513	Indirect

Footnotes

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

F2: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of October 31, 2015. Includes 2.885 UNITS acquired since the reporting person's last report. (The 1,085.513 UNITS are the equivalent of approximately 2,003 SHARES of the issuer's Common Stock.)

F3: Option granted under the Ecolab Inc. 2005 Stock Incentive Plan on December 5, 2007. 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.

F4: Option granted under the Ecolab Inc. 2005 Stock Incentive Plan on December 3, 2008. 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.