U.S. Bancorp (USB) director increases deferred stock-based compensation units

Rhea-AI Filing Summary

U.S. Bancorp director updates deferred stock-based compensation holdings. On 12/26/2025, a reporting person who serves as a Director of U.S. Bancorp (USB) acquired 27 derivative securities under a deferred compensation plan, with a reference price of $54.99 per unit. Each unit represents a right to receive U.S. Bancorp common stock in the future.

After this transaction, the director beneficially owned 27,229 derivative units linked to U.S. Bancorp common stock. According to the disclosure, these deferred compensation plan amounts are payable in common stock when the director ceases to serve on U.S. Bancorp's Board of Directors, and the total includes amounts acquired through dividend reinvestment. The holdings are reported as direct ownership.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HERNANDEZ ROLAND A

(Last) (First) (Middle)

C/O U.S. BANCORP

800 NICOLLET MALL

(Street)

MINNEAPOLIS MN 55402

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
US BANCORP \DE\ [ USB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Compensation Plan Participation	(1)	12/26/2025		A		27		(1)	(1)	Common Stock, $0.01 par value	27	$54.99	27,229(2)	D

Explanation of Responses:

1. Deferred Compensation Plan Participation is payable in common stock when the reporting person ceases to serve on U.S. Bancorp's Board of Directors.

2. Includes amounts acquired pursuant to dividend reinvestment.

	/s/ James L. Chosy by power of attorney for Roland A. Hernandez	12/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did U.S. Bancorp (USB) report on December 26, 2025?

The filing reports that a U.S. Bancorp Director acquired 27 derivative securities on 12/26/2025 through a Deferred Compensation Plan Participation, with each unit tied to U.S. Bancorp common stock.

How many deferred compensation units does the U.S. Bancorp (USB) director own after this Form 4 transaction?

Following the reported transaction, the director beneficially owns 27,229 derivative securities under the deferred compensation plan, all reported as direct ownership.

When will the U.S. Bancorp (USB) deferred compensation be paid to the director?

The disclosure states that the Deferred Compensation Plan Participation is payable in common stock when the reporting person ceases to serve on U.S. Bancorp's Board of Directors.

What is the reference price for the newly acquired U.S. Bancorp (USB) deferred compensation units?

The 27 newly acquired deferred compensation units are shown with a price of $54.99 per unit, with the underlying security identified as U.S. Bancorp common stock, $0.01 par value.

Does the U.S. Bancorp (USB) director’s deferred compensation total include dividend reinvestment?

Yes. The explanation notes that the total includes amounts acquired pursuant to dividend reinvestment within the deferred compensation plan.

Is this U.S. Bancorp (USB) Form 4 filed for one reporting person or multiple insiders?

The form is marked as filed by one reporting person, indicating that the reported holdings and transactions relate to a single insider.