US BANCORP \DE\ - Director's Dealing 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2010-10-29

Reporting Person: OWENS ODELL M (Director)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-10-29	Common Stock, $0.01 par value	M	4961.0000	$21.5410	Acquired	4961.0000	Direct
2010-10-29	Common Stock, $0.01 par value	M	982.0000	$23.2792	Acquired	5943.0000	Direct
2010-10-29	Common Stock, $0.01 par value	S	5943.0000	$24.2001	Disposed	0.0000	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-10-29	Non-Employee Director Stock Option (Right to Buy)	$23.2792	M	982.0000	Disposed	2011-01-02	Common Stock, $0.01 par value (982.0000)	Direct
2010-10-29	Non-Employee Director Stock Option (Right to Buy)	$21.5410	M	4961.0000	Disposed	2010-12-12	Common Stock, $0.01 par value (4961.0000)	Direct

F1: The option vested in four equal annual installments beginning on January 2, 2002.

F2: The option vested in four equal annual installments beginning on December 12, 2001.