US BANCORP \DE\ — Director's Dealing 2017

Feb 21, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2017-02-16

Reporting Person: Kotwal Shailesh M (Vice Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-16	Employee Stock Option (Right to Buy)	$55.0100	A	27267.0000	Acquired	2027-02-16	Common Stock, $0.01 par value (27267.0000)	Direct

Footnotes

F1: The option vests in four equal annual installments beginning on February 16, 2018. This option makes up 25% of the value of the reporting person's 2017 long-term incentive compensation award. 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 time-based vesting conditions, will be determined in early 2018 based on the company's 2017 performance against certain performance targets and will be reported at the time of such determination.