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: 2006-08-23

Reporting Person: OMALEY DAVID B (Director)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-23	Common Stock, $0.01 par value	M	18122	$20.8582	Acquired	134404	Direct
2006-08-23	Common Stock, $0.01 par value	M	6192	$20.7961	Acquired	140596	Direct
2006-08-23	Common Stock, $0.01 par value	M	252	$20.734	Acquired	140848	Direct
2006-08-23	Common Stock, $0.01 par value	M	433	$21.8713	Acquired	141281	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-23	Non-Employee Director Stock Option (Right to Buy)	$20.8582	M	18122	Disposed	2008-04-14	Common Stock (18122)	Direct
2006-08-23	Non-Employee Director Stock Option (Right to Buy)	$20.7961	M	6192	Disposed	2010-01-03	Common Stock (6192)	Direct
2006-08-23	Non-Employee Director Stock Option (Right to Buy)	$20.734	M	252	Disposed	2010-07-03	Common Stock (252)	Direct
2006-08-23	Non-Employee Director Stock Option (Right to Buy)	$21.8713	M	433	Disposed	2011-10-01	Common Stock (433)	Direct

F1: The option vested in four equal annual installements beginning on April 14, 1999.

F2: The option vested in four equal annual installments beginning on January 3, 2001.

F3: The option vested in four equal annual installments beginning on July 3, 2001.

F4: The option vested in four equal annual installments beginning on October 1, 2002.