US BANCORP \DE\ - Director's Dealing 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2003-11-14

Reporting Person: DUFF ANDREW S (Vice Chairman)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-14	Common Stock, $0.01 par value	M	10713	$9.34	Acquired	140220	Direct
2003-11-14	Common Stock, $0.01 par value	M	8432	$11.86	Acquired	148652	Direct
2003-11-14	Common Stock, $0.01 par value	M	5912	$16.91	Acquired	154564	Direct
2003-11-14	Common Stock, $0.01 par value	G	380	—	Disposed	154184	Direct
2003-11-14	Common Stock, $0.01 par value	G	380	—	Disposed	153804	Direct
2003-11-14	Common Stock, $0.01 par value	G	77	—	Disposed	153727	Direct
2003-11-14	Common Stock, $0.01 par value	G	936	—	Disposed	152791	Direct
2003-11-14	Common Stock, $0.01 par value	G	1873	—	Disposed	150918	Direct
2003-11-14	Common Stock, $0.01 par value	G	3727	—	Disposed	147191	Direct
2003-11-14	Common Stock, $0.01 par value	G	188	—	Disposed	147003	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-14	Employee Stock Option (Right to Buy)	$9.34	M	10713	Disposed	2005-01-25	Common Stock (10713)	Direct
2003-11-14	Employee Stock Option (Right to Buy)	$11.86	M	8432	Disposed	2006-01-24	Common Stock (8432)	Direct
2003-11-14	Employee Stock Option (Right to Buy)	$16.91	M	5912	Disposed	2007-01-21	Common Stock (5912)	Direct

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$23.34	2011-02-27	Common Stock (170000)	170000	Direct
Employee Stock Option (Right to Buy)	$17.49	2010-01-18	Common Stock (253000)	253000	Direct
Employee Stock Option (Right to Buy)	$29.35	2009-04-20	Common Stock (328900)	328900	Direct
Employee Stock Option (Right to Buy)	$32.61	2008-01-21	Common Stock (16288)	16288	Direct
Employee Stock Option (Right to Buy)	$32.61	2008-01-21	Common Stock (3062)	3062	Direct
Employee Stock Option (Right to Buy)	$16.91	2007-01-21	Common Stock (13438)	13438	Direct
Employee Stock Option	$11.86	2006-01-24	Common Stock (10918)	10918	Direct
Employee Stock Option	$9.33	2005-01-25	Common Stock (20022)	20022	Direct

F1: Mr. Duff donated to various charities a portion of the shares received upon exercise of his stock options.

F2: 100% Exercisable.

F3: The option vests in four equal annual installments beginning on February 27, 2002.