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US BANCORP \DE\ — Director's Dealing 2010
Feb 18, 2010
29924_dirs_2010-02-18_e2be5ce9-fb38-415e-8e91-10a6e65d669c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2010-02-16
Reporting Person: DAVIS RICHARD K (Director, Chairman, President and CEO)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2010-02-16 | Employee Stock Option (Right to Buy) | $23.86 | A | 300122 | Acquired | 2020-02-16 | Common Stock, $0.01 par value (300122) | Direct |
| 2010-02-16 | Restricted Stock Units | $0 | A | 104777 | Acquired | Common Stock, $0.01 par value (104777) | Direct | |
| 2010-02-16 | Restricted Stock Units | $0 | A | 293378 | Acquired | Common Stock, $0.01 par value (293378) | Direct |
Footnotes
F1: The option vests in four equal annual installments beginning on February 16, 2011. This option makes up part of the reporting person's annual long-term incentive compensation grant.
F2: Restricted stock units convert into common stock on a one-for-one basis at the time of vesting.
F3: Prior to the first vesting, the number of units subject to the award will be adjusted based on the company's one-year performance against certain pre-established performance targets. The number of units may increase to as much as 150%, or decrease to as little as 25%, of the initial number of units. These Restricted Stock Units make up part of the reporting person's long-term incentive compensation grant.
F4: The Restricted Stock Units vest in four equal annual installments begining on the date listed in the Date Exercisable column of Box 6.
F5: Vesting of these Restricted Stock Units is contingent upon the company's meeting a pre-established performance target relating to average return on equity in 2010, 2011 and 2012. If this performance target is met, then 50% of these Restricted Stock Units vest on the third anniversary of the grant date, 25% on the fourth anniversary and 25% on the fifth anniversary. If the performance target is not met, these Restricted Stock Units will be forfeited. The date listed in the Date Exercisable column of Box 6 is the first possible vesting date. These Restricted Stock Units were granted as a special retention award for the reporting person.