US BANCORP \DE\ - Director's Dealing 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2005-08-09

Reporting Person: CARLSON JENNIE P (Executive Vice President, HR)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-08-09	Common Stock, $0.01 par value	M	12082	$18.7889	Acquired	36972.08	Direct
2005-08-09	Common Stock, $0.01 par value	M	6041	$13.2847	Acquired	43013.08	Direct
2005-08-09	Common Stock, $0.01 par value	M	1377	$10.0417	Acquired	44390.08	Direct
2005-08-09	Common Stock, $0.01 par value	S	19500	$30.02	Disposed	24890.08	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-08-09	Employee Stock Option (Right to Buy)	$18.7889	M	12082	Disposed	2007-12-07	Common Stock (24163)	Direct
2005-08-09	Employee Stock Option (Right to Buy)	$13.2847	M	6041	Disposed	2007-04-20	Common Stock (6041)	Direct
2005-08-09	Employee Stock Option (Right to Buy)	$10.0417	M	1377	Disposed	2006-12-08	Common Stock (1377)	Direct

Security	Shares	Ownership
Common Stock, $0.01 par value	13381.17	Indirect
Common Stock, $0.01 par value	1800	Indirect

F1: Based on a plan report dated 7/31/05, the most recent plan report available.

F2: The option vested in four equal annual installments beginning on December 9, 1998.

F3: The option vested in four equal annual installments beginning on April 21, 1998.

F4: The option vested in four equal annual installments beginning on December 10, 1997.