ECOLAB INC. — Director's Dealing 2015

May 1, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2015-05-01

Reporting Person: SEIFERT JAMES J (Ex.VP, Gen. Counsel & Secy.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-01	Common Stock	M	26900	$55.595	Acquired	56646	Direct
2015-05-01	Common Stock	M	15200	$71.54	Acquired	71846	Direct
2015-05-01	Common Stock	S	50352	$113.00	Disposed	21494	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-01	Employee Stock Option (Right to Buy)	$55.595	M	26900	Disposed	2021-12-01	Common Stock (26900)	Direct
2015-05-01	Employee Stock Option (Right to Buy)	$71.54	M	15200	Disposed	2022-12-05	Common Stock (15200)	Direct

Footnotes

F1: Option granted under the Ecolab Inc. 2010 Stock Incentive Plan on December 1, 2011. 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.

F2: Option granted under the Ecolab Inc. 2010 Stock Incentive Plan on December 5, 2012. 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 will become exercisable as to the remaining shares on the third anniversary of the date of grant.