US BANCORP \DE\ — Director's Dealing 2017

Jan 20, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2017-01-19

Reporting Person: DOLAN TERRANCE R (Vice Chairman & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-19	Common Stock, $0.01 par value	M	54029.0000	$28.6300	Acquired	115124.0000	Direct
2017-01-19	Common Stock, $0.01 par value	M	47305.0000	$28.7000	Acquired	162429.0000	Direct
2017-01-19	Common Stock, $0.01 par value	S	101334.0000	$50.6300	Disposed	61095.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-19	Employee Stock Option (Right to Buy)	$28.6300	M	54029.0000	Disposed	2022-02-15	Common Stock, $0.01 par value (54029.0000)	Direct
2017-01-19	Employee Stock Option (Right to Buy)	$28.7000	M	47305.0000	Disposed	2021-02-16	Common Stock, $0.01 par value (47305.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	5491.0000	Indirect

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $50.61 to $50.67. 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: Based on a plan report dated December 31, 2016, the most recent plan report available.

F3: The option vested in four equal annual installments beginning on February 15, 2013.

F4: The option vested in four equal annual installments beginning on February 16, 2012.