ECOLAB INC. — Director's Dealing 2015

Jul 20, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2015-07-16

Reporting Person: GRUNDHOFER JERRY A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-07-16	Common Stock	M	4300	$42.905	Acquired	74492.26	Direct
2015-07-16	Common Stock	F	1608	$114.725	Disposed	72884.26	Direct
2015-07-16	Common Stock	M	4200	$45.965	Acquired	77084.26	Direct
2015-07-16	Common Stock	F	1682	$114.725	Disposed	75402.26	Direct
2015-07-16	Common Stock	M	5200	$38.625	Acquired	80602.26	Direct
2015-07-16	Common Stock	F	1750	$114.725	Disposed	78852.26	Direct
2015-07-16	Common Stock	M	4500	$47.475	Acquired	83352.26	Direct
2015-07-16	Common Stock	F	1862	$114.725	Disposed	81490.26	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-07-16	Stock Option (Right to Buy)	$42.905	M	4300	Disposed	2017-05-04	Common Stock (4300)	Direct
2015-07-16	Stock Option (Right to Buy)	$45.965	M	4200	Disposed	2018-05-02	Common Stock (4200)	Direct
2015-07-16	Stock Option (Right to Buy)	$38.625	M	5200	Disposed	2019-05-08	Common Stock (5200)	Direct
2015-07-16	Stock Option (Right to Buy)	$47.475	M	4500	Disposed	2020-05-06	Common Stock (4500)	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.

F2: The options became exercisable, on a cumulative basis, as to 25% of the option shares (excluding any fractional portion less than one share), on the last day of each of the first, second and third three-month periods following their grant dates and as to the remaining shares on the last day of the fourth three-month period following their grant dates.