US BANCORP \DE\ — Director's Dealing 2017

May 17, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2017-05-16

Reporting Person: Parker P.W. (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-16	Common Stock, $0.01 par value	M	29449.0000	$33.9900	Acquired	307698.0000	Direct
2017-05-16	Common Stock, $0.01 par value	S	29449.0000	$51.9400	Disposed	278249.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-16	Employee Stock Option (Right to Buy)	$33.9900	M	29449.0000	Disposed	2023-02-14	Common Stock, $0.01 par value (29449.0000)	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $51.93 to $51.98. 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.

F2: The option vested in four equal annual installments beginning on February 14, 2014.