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: 2008-04-17

Reporting Person: CHENEVICH WILLIAM L (Vice Chairman)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-04-17	Common Stock, $0.01 par value	M	25000	$21.4938	Acquired	107437	Direct
2008-04-17	Common Stock, $0.01 par value	S	81	$33.41	Disposed	107356	Direct
2008-04-17	Common Stock, $0.01 par value	S	24919	$33.40	Disposed	82437	Direct
2008-04-18	Common Stock, $0.01 par value	M	122932	$32.9633	Acquired	205369	Direct
2008-04-18	Common Stock, $0.01 par value	S	28191	$33.95	Disposed	177178	Direct
2008-04-18	Common Stock, $0.01 par value	S	5650	$33.96	Disposed	171528	Direct
2008-04-18	Common Stock, $0.01 par value	S	6700	$33.97	Disposed	164828	Direct
2008-04-18	Common Stock, $0.01 par value	S	8125	$33.98	Disposed	156703	Direct
2008-04-18	Common Stock, $0.01 par value	S	8800	$33.99	Disposed	147903	Direct
2008-04-18	Common Stock, $0.01 par value	S	2700	$34.00	Disposed	145203	Direct
2008-04-18	Common Stock, $0.01 par value	S	1300	$34.01	Disposed	143903	Direct
2008-04-18	Common Stock, $0.01 par value	S	61466	$34.08	Disposed	82437	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-17	Employee Stock Option (Right to Buy)	$21.4938	M	25000	Disposed	2012-12-17	Common Stock (25000)	Direct
2008-04-18	Employee Stock Option (Right to Buy)	$32.9633	M	122932	Disposed	2009-04-26	Common Stock (122932)	Direct

Security	Shares	Ownership
Common Stock, $0.01 par value	2292.5108	Indirect

F1: Based on a plan report dated March 31, 2008, the most recent report available.

F2: The option vested in four equal annual installments beginning on December 17, 2003.

F3: The option vested in four equal annual installments beginning on April 26, 2000.