US Bancorp (NYSE: USB) grants 32,323 performance shares to HR chief

Rhea-AI Filing Summary

US Bancorp Senior EVP and Chief HR Officer Elcio R.T. Barcelos acquired 32,323 shares of common stock through a performance-based stock award. The shares were granted on February 11, 2026 at a price of $0.0000 per share, increasing his directly held stake to 119,404 shares.

The award reflects performance-based restricted stock units that vest on March 2, 2026. These units represented 60% of the grant date fair market value of his 2023 long-term incentive award, with the final number earned based on company performance from January 1, 2023 to December 31, 2025.

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

OMB Number:			3235-0287
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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^*

Barcelos Elcio R.T.

(Last) (First) (Middle)

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior EVP, Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2026

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
Common Stock, $0.01 par value	02/11/2026		A		32,323(1)	A	$0.0000	119,404	D

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

Explanation of Responses:

1. These performance-based restricted stock units vest on March 2, 2026. These units made up 60% of the grant date fair market value of the reporting person's 2023 long-term incentive compensation award granted on March 2, 2023. The number of units earned and eligible to be settled in shares of common stock was determined on February 11, 2026 based on the company's performance against certain preset performance targets during a three-year performance period of January 1, 2023, to December 31, 2025.

	/s/ James L. Chosy by power of attorney for Elcio R.T. Barcelos	02/12/2026
	** 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 US Bancorp (USB) report for Elcio R.T. Barcelos?

US Bancorp reported that Senior EVP and Chief HR Officer Elcio R.T. Barcelos acquired 32,323 shares of common stock. The shares came from a performance-based stock award determined by preset performance targets over a three-year period ending December 31, 2025.

At what price were the new US Bancorp (USB) shares granted to Elcio R.T. Barcelos?

The 32,323 US Bancorp common shares granted to Elcio R.T. Barcelos were issued at $0.0000 per share. This reflects a compensation-related stock award rather than an open-market purchase, tied to performance-based restricted stock units earned over a three-year period.

How many US Bancorp (USB) shares does Elcio R.T. Barcelos own after this transaction?

After the February 11, 2026 award, Elcio R.T. Barcelos beneficially owns 119,404 US Bancorp common shares directly. This total includes the 32,323 shares acquired through performance-based restricted stock units that vested based on company results over a defined three-year period.

What performance period determined the US Bancorp (USB) stock units earned by Elcio R.T. Barcelos?

The number of performance-based restricted stock units earned by Elcio R.T. Barcelos was based on company performance from January 1, 2023 to December 31, 2025. Results against preset performance targets determined how many units converted into US Bancorp common shares.

When do the performance-based restricted stock units for US Bancorp (USB) vest for Elcio R.T. Barcelos?

The performance-based restricted stock units associated with this award vest on March 2, 2026. These units were originally granted on March 2, 2023 as part of Barcelos’s 2023 long-term incentive compensation and were earned based on multi-year company performance metrics.

What portion of Elcio R.T. Barcelos’s 2023 long-term incentive at US Bancorp (USB) was performance-based?

The performance-based restricted stock units underlying this award represented 60% of the grant date fair market value of Elcio R.T. Barcelos’s 2023 long-term incentive compensation. The final units earned were determined by US Bancorp’s performance over the January 2023 to December 2025 period.