US BANCORP \DE\ — Director's Dealing 2011

Dec 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2011-12-15

Reporting Person: JOHNSON JOEL W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-15	Common Stock, $0.01 par value	M	19380.0000	$20.6397	Acquired	56905.8112	Direct
2011-12-15	Common Stock, $0.01 par value	M	579.0000	$22.0103	Acquired	57484.8112	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-12-15	Non-Employee Director Stock Option (Right to Buy)	$20.6397	M	19380.0000	Disposed	2012-01-02	Common Stock, $0.01 par value (19380.0000)	Direct
2011-12-15	Non-Employee Director Stock Option (Right to Buy)	$22.0103	M	579.0000	Disposed	2012-04-01	Common Stock, $0.01 par value (579.0000)	Direct

Footnotes

F1: Includes amounts acquired pursuant to dividend reinvestment.

F2: The option vested in four equal annual installments beginning on January 2, 2003.

F3: The option vested in four equal annual installments beginning on April 1, 2003.