US BANCORP \DE\ — Director's Dealing 2016

Jul 22, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2016-07-22

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-07-22	Common Stock, $0.01 par value	M	53597.0000	$32.7000	Acquired	178422.0000	Direct
2016-07-22	Common Stock, $0.01 par value	M	42879.0000	$36.2500	Acquired	221301.0000	Direct
2016-07-22	Common Stock, $0.01 par value	S	102961.0000	$42.0000	Disposed	118340.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-07-22	Employee Stock Option (Right to Buy)	$32.7000	M	53597.0000	Disposed	2018-02-12	Common Stock, $0.01 par value (53597.0000)	Direct
2016-07-22	Employee Stock Option (Right to Buy)	$36.2500	M	42879.0000	Disposed	2017-02-13	Common Stock, $0.01 par value (42879.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	13695.0000	Indirect

Footnotes

F1: Based on a plan report dated June 30, 2016, the most recent plan report available.

F2: The option vested in four equal annual installments beginning on February 12, 2009.

F3: The option vested in four equal annual installments beginning on February 13, 2008.