US BANCORP \DE\ — Director's Dealing 2013

Mar 1, 2013

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2013-03-01

Reporting Person: Stone Kent V. (Vice Chairman)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	34694.0000	Direct
Common Stock, $0.01 par value	14509.0000	Indirect
Common Stock, $0.01 par value	24189.0000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Deferred Compensation Plan Participation	$		Common Stock, $0.01 par value (7142.0000)		Direct
Employee Stock Option (Right to Buy)	$11.0200	2019-02-18	Common Stock, $0.01 par value (22978.0000)		Direct
Employee Stock Option (Right to Buy)	$23.8600	2020-02-16	Common Stock, $0.01 par value (14009.0000)		Direct
Employee Stock Option (Right to Buy)	$28.5000	2014-01-20	Common Stock, $0.01 par value (9241.0000)		Direct
Employee Stock Option (Right to Buy)	$28.6300	2022-02-15	Common Stock, $0.01 par value (9211.0000)		Direct
Employee Stock Option (Right to Buy)	$28.7000	2021-02-16	Common Stock, $0.01 par value (7332.0000)		Direct
Employee Stock Option (Right to Buy)	$29.9700	2016-02-14	Common Stock, $0.01 par value (23804.0000)		Direct
Employee Stock Option (Right to Buy)	$30.1200	2015-02-16	Common Stock, $0.01 par value (19738.0000)		Direct
Employee Stock Option (Right to Buy)	$32.7000	2018-02-12	Common Stock, $0.01 par value (51798.0000)		Direct
Employee Stock Option (Right to Buy)	$33.9900	2023-02-14	Common Stock, $0.01 par value (20594.0000)		Direct
Employee Stock Option (Right to Buy)	$36.2500	2017-02-13	Common Stock, $0.01 par value (29947.0000)		Direct
Restricted Stock Units	$		Common Stock, $0.01 par value (22065.0000)		Direct

Footnotes

F1: Based on a plan report dated February 26, 2013, the most recent plan report available.

F2: Deferred Compensation Plan Participation is valued against U.S. Bancorp common stock on a one-for-one basis and is payable in common stock following the termination of the reporting person's employment with U.S. Bancorp

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

F4: The option vests in four equal annual installments beginning on February 16, 2011.

F5: The option vested in four equal annual installments beginning on January 20, 2005.

F6: The option vests in four equal annual installments beginning on February 15, 2013.

F7: The option vests in four equal annual installments beginning on February 16, 2012.

F8: The option vested in four equal annual installments beginning on February 14, 2007.

F9: The option vested in four equal annual installments beginning on February 16, 2006.

F10: The option vested in four equal annual installments beginning on February 12, 2009.

F11: The option vests in four equal annual installments beginning on February 14, 2014.

F12: The option vested in four equal annual installments beginning on February 13, 2008.

F13: The restricted stock units vest in four equal annual installments beginning on the date listed in the Date Exercisable column of Box 2.

F14: 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 performance targets set on the grant date. The number of units may increase to as much as 125%, or decrease to as little as 0%, of the initial number of units. These restricted stock units make up part of the reporting person's 2013 long-term incentive compensation grant.

F15: Restricted stock units convert into common stock on a one-for-one basis at the time of vesting.