US BANCORP \DE\ - Director's Dealing 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2008-04-24

Reporting Person: McCullough Howell D. III (Executive Vice President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-24	Common Stock, $0.01 par value	M	72595	$29.1518	Acquired	78584	Indirect
2008-04-24	Common Stock, $0.01 par value	M	25170	$21.4938	Acquired	103754	Direct
2008-04-25	Common Stock, $0.01 par value	S	5851	$34.36	Disposed	97903	Direct
2008-04-24	Common Stock, $0.01 par value	S	700	$34.363	Disposed	97203	Direct
2008-04-24	Common Stock, $0.01 par value	S	47100	$34.365	Disposed	50103	Direct
2008-04-24	Common Stock, $0.01 par value	S	5700	$34.37	Disposed	44403	Direct
2008-04-24	Common Stock, $0.01 par value	S	23714	$34.38	Disposed	20689	Direct
2008-04-24	Common Stock, $0.01 par value	S	1100	$34.385	Disposed	19589	Direct
2008-04-24	Common Stock, $0.01 par value	S	11900	$34.39	Disposed	7689	Direct
2008-04-24	Common Stock, $0.01 par value	S	1700	$34.395	Disposed	5989	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-24	Employee Stock Option (Right to Buy)	$29.1518	M	72595	Disposed	2009-04-20	Common Stock (72595)	Direct
2008-04-24	Employee Stock Option (Right to Buy)	$21.4938	M	25170	Disposed	2012-12-17	Common Stock (25170)	Direct

Security	Shares	Ownership
Common Stock, $0.01 par value	15171.885	Indirect

F1: Based on a plan report dated April 22, 2008, the most recent plan report available.

F2: The option vested in four equal annual installments beginning on April 20, 2000.

F3: The option vested in four equal annual installments beginning on December 17, 2003.