US BANCORP \DE\ — Director's Dealing 2016

Jul 20, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2016-07-18

Reporting Person: DOLAN TERRANCE R (Vice Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-07-18	Employee Stock Option (Right to Buy)	$41.8800	A	2331.0000	Acquired	2026-07-18	Common Stock, $0.01 par value (2331.0000)	Direct

Footnotes

F1: The option vests in four equal annual installments beginning on February 18, 2017. This option makes up 25% of a long-term incentive compensation award granted to the reporting person. The remaining 75% of the award value was granted in the form of performance-based restricted stock units. The number of units that will be earned and eligible to be settled in shares of common stock, subject to the award's vesting conditions, will be determined in early 2017 based on the company's 2016 performance against certain performance targets and will be reported at the time of such determination.