US BANCORP \DE\ — Director's Dealing 2007

Feb 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2007-02-13

Reporting Person: Thormodsgard Diane L (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-14	Common Stock, $0.01 par value	F	375	$36.25	Disposed	67909	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-13	Employee Stock Option (Right to Buy)	$36.25	A	99819	Acquired	2017-02-13	Common Stock (99819)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	305.557	Indirect

Footnotes

F1: Based on a plan report dated February 5, 2007, the most recent plan report available.

F2: The option vests in four equal annual installments beginning on February 13, 2008.