US BANCORP \DE\ — Director's Dealing 2016

Oct 24, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2016-10-20

Reporting Person: COLLINS ARTHUR D JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-20	Common Stock, $0.01 par value	M	35845.0000	$35.7600	Acquired	35845.0000	Direct
2016-10-20	Common Stock, $0.01 par value	S	35845.0000	$44.0100	Disposed	0.0000	Direct
2016-02-01	Common Stock, $0.01 par value	G	47165.0000	$0.0000	Disposed	0.0000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-20	Non-Employee Director Stock Option (Right to Buy)	$35.7600	M	35845.0000	Disposed	2017-01-17	Common Stock, $0.01 par value (35845.0000)	Direct

Footnotes

F1: The reporting person's direct holdings were erroneously adjusted downward by 674 shares in a Form 4 filed by the reporting person on April 22, 2015, when those holdings should have in fact been adjusted upward by 674 shares. Accordingly, the number of shares reported in this box is 1,348 shares more than that reported on previous forms.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $43.97 to $44.08. 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.

F3: The reporting person transferred 4,112 shares and 6,398 shares into the GRAT account on September 3, 2014 and September 4, 2014, respectively.

F4: The option vested in four equal annual installments beginning on January 17, 2008.