US BANCORP \DE\ — Director's Dealing 2010

Jul 2, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2010-07-01

Reporting Person: Gifford Craig E (EVP and Controller)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	19622	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$11.02	2019-02-18	Common Stock, $0.01 par value (27051)		Direct
Employee Stock Option (Right to Buy)	$13.88	2019-01-22	Common Stock, $0.01 par value (27048)		Direct
Employee Stock Option (Right to Buy)	$23.86	2020-02-16	Common Stock, $0.01 par value (7144)		Direct

Footnotes

F1: The option vests in four equal annual installments beginning February 18, 2010.

F2: The option vests in four equal annual installments beginning on January 22, 2010.

F3: The option vests in four equal annual installments beginning on February 16, 2011.