US BANCORP \DE\ - Director's Dealing 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-10-18

Reporting Person: COLLINS ARTHUR D JR (Director)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-18	Common Stock, $0.01 par value	M	1013	$18.8021	Acquired	9854	Direct
2006-10-18	Common Stock, $0.01 par value	M	6495	$19.0008	Acquired	16349	Direct
2006-10-18	Common Stock, $0.01 par value	M	6495	$16.7362	Acquired	22844	Direct
2006-10-18	Common Stock, $0.01 par value	S	7605	$33.22	Disposed	15239	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-18	Non-Employee Stock Option (Right to Buy)	$18.8021	M	1013	Disposed	2007-01-15	Common Stock (1013)	Direct
2006-10-18	Non-Employee Stock Option	$19.0008	M	6495	Disposed	2007-04-24	Common Stock (6495)	Direct
2006-10-18	Non-Employee Stock Option (Right to Buy)	$16.7362	M	6495	Disposed	2010-04-19	Common Stock (6495)	Direct

F1: The option vested in four equal annual installments beginning on January 15, 1998.

F2: The option vested in four equal annual installments beginning on April 24, 1998.

F3: The option vested in four equal annual installments beginning on April 19, 2001.