ECOLAB INC. — Director's Dealing 2016

Feb 26, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2016-02-24

Reporting Person: BAKER DOUGLAS M JR (Director, Chairman and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-24	Common Stock	A	43070	—	Acquired	398658	Direct
2016-02-24	Common Stock	F	19306	$100.465	Disposed	379352	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	19215	Indirect
Common Stock	72500	Indirect
Common Stock	5408.485	Indirect

Footnotes

F1: Reflects the reporting person's payment of minimum statutory tax obligations by withholding shares of Ecolab Common Stock incident to the vesting of performance-based restricted stock units in accordance with Rule 16b-3.

F2: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of January 31, 2016. Includes 18.465 UNITS acquired since the reporting person's last report. (The 5,408.485 UNITS are the equivalent of approximately 9,989 SHARES of the issuer's Common Stock.)