US BANCORP \DE\ — Director's Dealing 2011

Feb 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2011-02-16

Reporting Person: OWENS ODELL M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-16	Common Stock, $0.01 par value	M	1636.0000	$23.0433	Acquired	1636.0000	Direct
2011-02-16	Common Stock, $0.01 par value	S	1636.0000	$28.7400	Disposed	0.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-16	Non-Employee Director Stock Option (Right to Buy)	$23.0433	M	1636.0000	Disposed	2011-04-02	Common Stock, $0.01 par value (1636.0000)	Direct

Footnotes

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