US Bancorp (NYSE: USB) director awarded 3,355 RSUs and defers more shares
Rhea-AI Filing Summary
US Bancorp director Richard P. McKenney acquired additional equity-based compensation tied to the company’s common stock. He received 3,355 restricted stock units that convert into common shares on a one-for-one basis and were fully vested at grant, but are payable in stock only after he ceases serving on the board, unless terminated for cause.
He also acquired 2,560 notional shares through Deferred Compensation Plan Participation at a reference price of $56.63 per share, bringing his deferred compensation balance to 34,342 notional shares, payable in common stock when he leaves the board. Some plan amounts include shares accumulated through dividend reinvestment. These are compensation and deferral entries, not open-market purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
McKenney Richard P
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Deferred Compensation Plan Participation | 2,560 | $56.63 | $145K |
| Grant/Award | Restricted Stock Units | 3,355 | $0.00 | $0.00 |
Holdings After Transaction:
Deferred Compensation Plan Participation — 34,342 shares (Direct);
Restricted Stock Units — 3,355 shares (Direct)
Footnotes (4)
- F1. Deferred Compensation Plan Participation is payable in common stock when the reporting person ceases to serve on U.S. Bancorp's Board of Directors.
- F2. Includes amounts acquired pursuant to dividend reinvestment.
- F3. Restricted stock units convert into common stock on a one-for-one basis.
- F4. The restricted stock units were fully vested at the time of grant. Units are payable in common stock when the reporting person ceases to serve on the Board of Directors and is not providing services to the Company as an independent contractor, except that all units are forfeited if the holder's service is terminated for cause.
Key Figures
Restricted stock units granted: 3,355 units
Deferred compensation units added: 2,560 units
Reference price for deferred units: $56.63 per share
+3 more
6 metrics
Restricted stock units granted
3,355 units
Fully vested RSUs converting one-for-one into common stock
Deferred compensation units added
2,560 units
Deferred Compensation Plan Participation on April 23, 2026
Reference price for deferred units
$56.63 per share
Price used for 2,560 deferred compensation notional shares
Total deferred compensation balance
34,342 units
Deferred Compensation Plan Participation after the reported transaction
RSU underlying shares
3,355 shares
Underlying US Bancorp common stock for RSU grant
Deferred units underlying shares
2,560 shares
Underlying common stock for new deferred compensation units
Key Terms
Restricted Stock Units, Deferred Compensation Plan Participation, dividend reinvestment, one-for-one basis, +1 more
5 terms
Restricted Stock Units financial
"He received 3,355 restricted stock units that convert into common shares"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Deferred Compensation Plan Participation financial
"He also acquired 2,560 notional shares through Deferred Compensation Plan Participation"
dividend reinvestment financial
"Some plan amounts include shares accumulated through dividend reinvestment"
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
one-for-one basis financial
"Restricted stock units convert into common stock on a one-for-one basis"
terminated for cause financial
"All units are forfeited if the holder's service is terminated for cause"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did US Bancorp (USB) director Richard McKenney report on this Form 4?
Richard McKenney reported receiving equity-based compensation linked to US Bancorp common stock. He was granted 3,355 restricted stock units and 2,560 notional shares through Deferred Compensation Plan Participation, both payable in stock when he stops serving on the board, subject to plan terms.
How many restricted stock units did Richard McKenney receive from US Bancorp (USB)?
He received 3,355 restricted stock units tied to US Bancorp common stock. These units are fully vested at grant, convert into common stock on a one-for-one basis, and are payable only when he ceases to serve on the board, unless terminated for cause.
What is the Deferred Compensation Plan Participation reported for US Bancorp (USB)?
McKenney acquired 2,560 notional shares under a Deferred Compensation Plan at a reference price of $56.63 per share. This increased his deferred compensation balance to 34,342 notional shares, which are payable in US Bancorp common stock when he leaves the board.
Are Richard McKenney’s US Bancorp (USB) restricted stock units immediately payable?
No, the restricted stock units are fully vested but payable only in common stock when he ceases serving on the board and is not an independent contractor. All units are forfeited if his service is terminated for cause, reflecting standard incentive and retention conditions.
Does Richard McKenney’s US Bancorp (USB) deferred compensation include dividend reinvestment?
Yes, the filing notes that the Deferred Compensation Plan Participation balance includes amounts acquired through dividend reinvestment. This means notional share balances can grow over time as dividends are credited and reinvested in additional stock-equivalent units under the plan.