US BANCORP \DE\ — Director's Dealing 2016

Nov 16, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2016-11-14

Reporting Person: CARLSON JENNIE P (EVP, Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-14	Common Stock, $0.01 par value	M	37000.0000	$13.1000	Acquired	73371.0000	Direct
2016-11-14	Common Stock, $0.01 par value	S	37000.0000	$48.4500	Disposed	36371.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-14	Employee Stock Option (Right to Buy)	$13.1000	M	37000.0000	Disposed	2019-03-02	Common Stock, $0.01 par value (37000.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	12689.0000	Indirect
Common Stock, $0.01 par value	2235.0000	Indirect
Common Stock, $0.01 par value	133502.0000	Indirect

Footnotes

F1: Based on a plan report dated October 31, 2016, the most recent plan report available.

F2: The option vested in four equal annual installments beginning on March 2, 2010.