US BANCORP \DE\ - Director's Dealing 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2011-02-09

Reporting Person: JOHNSON JOEL W (Director)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-09	Common Stock, $0.01 par value	M	15102.0000	$23.1824	Acquired	47928.2432	Direct
2011-02-09	Common Stock, $0.01 par value	M	7400.0000	$22.4474	Acquired	55328.2432	Direct
2011-02-09	Common Stock, $0.01 par value	M	629.0000	$23.0433	Acquired	55957.2432	Direct
2011-02-09	Common Stock, $0.01 par value	M	629.0000	$21.8713	Acquired	56586.2432	Direct
2011-02-09	Common Stock, $0.01 par value	M	378.0000	$23.1526	Acquired	56964.2432	Direct
2011-02-09	Common Stock, $0.01 par value	F	19602.0000	$28.2200	Disposed	37362.2432	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-09	Non-Employee Director Stock Option (Right to Buy)	$23.1824	M	15102.0000	Disposed	2011-02-27	Common Stock, $0.01 par value (15102.0000)	Direct
2011-02-09	Non-Employee Director Stock Option (Right to Buy)	$22.4474	M	7400.0000	Disposed	2011-03-12	Common Stock, $0.01 par value (7400.0000)	Direct
2011-02-09	Non-Employee Director Stock Option (Right to Buy)	$23.0433	M	629.0000	Disposed	2011-04-02	Common Stock, $0.01 par value (629.0000)	Direct
2011-02-09	Non-Employee Director Stock Option (Right to Buy)	$23.1526	M	378.0000	Disposed	2011-07-02	Common Stock, $0.01 par value (378.0000)	Direct
2011-02-09	Non-Employee Director Stock Option (Right to Buy)	$21.8713	M	629.0000	Disposed	2011-10-01	Common Stock, $0.01 par value (629.0000)	Direct

F1: Includes amounts acquired pursuant to dividend reinvestment.

F2: The option vested in four equal annual installments beginning on February 27, 2002.

F3: The option vested in four equal annual installments beginning on March 12, 2002.

F4: The option vested in four equal annual installments beginning on April 2, 2002.

F5: The option vested in four equal annual installments beginning on July 2, 2002.

F6: The option vested in four equal annual installments beginning on October 1, 2002.