US BANCORP \DE\ — Director's Dealing 2007

Feb 14, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2007-02-12

Reporting Person: Hidy Richard J (EVP and Chief Risk Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-12	Common Stock, $0.01 par value	M	5044	$30.12	Acquired	7744.1557	Direct
2007-02-12	Common Stock, $0.01 par value	M	19582	$30.00	Acquired	27326.1557	Direct
2007-02-12	Common Stock, $0.01 par value	S	500	$35.86	Disposed	26826.1557	Direct
2007-02-12	Common Stock, $0.01 par value	S	16400	$35.87	Disposed	10426.1557	Direct
2007-02-12	Common Stock, $0.01 par value	S	7726	$35.88	Disposed	2700.1557	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-12	Employee Stock Option (Right to Buy)	$30.12	M	5044	Disposed	2015-02-16	Common Stock (5044)	Direct
2007-02-12	Employee Stock Option (Right to Buy)	$30.00	M	19582	Disposed	2016-01-17	Common Stock (19582)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	11348.068	Indirect
Common Stock, $0.01 par value	13.5027	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 16, 2006.

F3: The option vests in four equal annual installments beginning on January 17, 2007.