US BANCORP \DE\ — Director's Dealing 2012

Apr 25, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2012-04-23

Reporting Person: von Gillern Jeffry H. (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-23	Common Stock, $0.01 par value	F	956.0000	$31.1600	Disposed	42833.0000	Direct
2012-04-25	Common Stock, $0.01 par value	M	17420.0000	$11.0200	Acquired	60253.0000	Direct
2012-04-25	Common Stock, $0.01 par value	S	10935.0000	$31.6709	Disposed	49318.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-04-25	Employee Stock Option (Right to Buy)	$11.0200	M	17420.0000	Disposed	2019-02-18	Common Stock, $0.01 par value (17420.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	9602.0000	Indirect

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $31.67 to $31.68. The reporting person will provide to the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F2: Based on a plan report dated March 30, 2012, the most recent plan report available.

F3: The option vests in four equal annual installments beginning on February 18, 2010.