US BANCORP \DE\ — Director's Dealing 2006

Feb 14, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-02-10

Reporting Person: CHENEVICH WILLIAM L (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-10	Common Stock, $0.01 par value	M	65442	$19.1001	Acquired	158333	Direct
2006-02-10	Common Stock, $0.01 par value	S	65442	$29.95	Disposed	92891	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-10	Employee Stock Option (Right to Buy)	$19.1001	M	65442	Disposed	2011-12-18	Common Stock (65442)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, 0.01 par value	1571.21	Indirect

Footnotes

F1: Based on a plan report dated January 31, 2006, the most recent plan report available.

F2: The option vested in four equal annual installments beginning on December 18, 2002.