US BANCORP \DE\ — Director's Dealing 2006

Feb 15, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-02-13

Reporting Person: MITAU LEE R (EVP, General Counsel & Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-13	Common Stock, $0.01 par value	F	20179	$29.96	Disposed	0	Direct
2006-02-13	Common Stock, $0.01 par value	F	44679	$29.96	Disposed	40340	Indirect
2006-02-13	Common Stock, $0.01 par value	M	66663	$28.7545	Acquired	66663	Direct
2006-02-13	Common Stock, $0.01 par value	F	3574	$29.96	Disposed	36766	Indirect
2006-02-13	Common Stock, $0.01 par value	M	3821	$27.0858	Acquired	70484	Direct
2006-02-13	Common Stock, $0.01 par value	F	16362	$29.96	Disposed	20404	Indirect
2006-02-13	Common Stock, $0.01 par value	M	16837	$28.7048	Acquired	87321	Direct
2006-02-13	Common Stock, $0.01 par value	F	20404	$29.96	Disposed	0	Indirect
2006-02-13	Common Stock, $0.01 par value	M	20805	$29.1021	Acquired	108126	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-13	Employee Stock Option (Right to Buy)	$28.7545	M	66663	Disposed	2006-12-19	Common Stock (66663)	Direct
2006-02-13	Employee Stock Option (Right to Buy)	$29.87	A	64858	Acquired	2006-12-19	Common Stock (64858)	Direct
2006-02-13	Employee Stock Option (Right to Buy)	$27.0858	M	3821	Disposed	2006-12-19	Common Stock (3821)	Direct
2006-02-13	Employee Stock Option (Right to Buy)	$29.87	A	3574	Acquired	2006-12-19	Common Stock (3574)	Direct
2006-02-13	Employee Stock Option (Right to Buy)	$28.7048	M	16837	Disposed	2006-12-19	Common Stock (16837)	Direct
2006-02-13	Employee Stock Option (Right to Buy)	$29.87	A	16362	Acquired	2006-12-19	Common Stock (16362)	Direct
2006-02-13	Employee Stock Option (Right to Buy)	$29.1021	M	20805	Disposed	2006-12-19	Common Stock (20805)	Direct
2006-02-13	Employee Stock Option (Right to Buy)	$29.87	A	20404	Acquired	2006-12-19	Common Stock (20404)	Direct