ECOLAB INC. — Director's Dealing 2016

Feb 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2016-02-20

Reporting Person: Blanco Alex N (EVP and Chief Supply Chain Off)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-20	Common Stock	M	3647	—	Acquired	8440	Direct
2016-02-20	Common Stock	F	1249	$107.55	Disposed	7191	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-20	Restricted Stock Units	$	M	3647	Disposed		Common Stock (3647)	Direct

Footnotes

F1: Each restricted stock unit was the economic equivalent of one share of Ecolab Common Stock and was settled for an equivalent number of shares of Ecolab Common Stock.

F2: Reflects the reporting person's payment of minimum statutory tax obligations by withholding shares of Ecolab Common Stock incident to the vesting of restricted stock units in accordance with Rule 16b-3.

F3: Represents the third and final pro rata vesting of units from an initial grant of 10,940 restricted stock units made on February 20, 2013.