US Bancorp (NYSE: USB) grants 13,356-share award to vice chair

Rhea-AI Filing Summary

Runkel Mark G. reported acquisition or exercise transactions in this Form 4 filing.

US Bancorp vice chair Mark G. Runkel reported an equity award and updated holdings in company stock. He received 13,356 shares of common stock at a price of $0.00 per share as a grant classified as a long-term incentive award, increasing his directly held common stock to 117,933 shares.

The grant consists of restricted stock units that vest 33% on March 5, 2027, 33% on March 5, 2028, and 34% on March 5, 2029. These units represent 40% of his 2026 long-term incentive value, with the remaining 60% in performance-based restricted stock units to be earned based on company performance from 2026 through 2028, with final amounts determined in early 2029. He also reported indirect holdings of 458 shares through a 401(k) plan and 2,846 shares through a trust, based on a plan report dated February 27, 2026.

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

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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^*

Runkel Mark G.

(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)
	Vice Chair

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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	03/05/2026		A		13,356(1)	A	$0.0000	117,933	D
Common Stock, $0.01 par value								458(2)	I	By 401(k) plan
Common Stock, $0.01 par value								2,846	I	By Trust

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. The restricted stock units vest 33% on each of March 5, 2027 and 2028, and 34% on March 5, 2029. These restricted stock units make up 40% of the value of the reporting person's long-term incentive compensation award granted in 2026. The remaining 60% 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 will be determined in early 2029 based on the company's performance against certain performance targets from 2026 through 2028 and will be reported at the time of such determination.

2. Based on a plan report dated February 27, 2026, the most recent plan report available.

	/s/ James L. Chosy by power of attorney for Mark G. Runkel	03/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did US Bancorp (USB) vice chair Mark G. Runkel report?

Mark G. Runkel reported receiving a grant of 13,356 shares of US Bancorp common stock at $0.00 per share. The award is part of his 2026 long-term incentive compensation and increases his directly held common stock position to 117,933 shares after the transaction.

How do the new restricted stock units for US Bancorp’s Mark G. Runkel vest?

The restricted stock units vest in three annual installments: 33% on March 5, 2027, 33% on March 5, 2028, and 34% on March 5, 2029. This staggered vesting schedule ties Runkel’s compensation to multi-year service and ongoing alignment with shareholders.

What portion of Mark G. Runkel’s 2026 long-term incentive at US Bancorp is time-based versus performance-based?

Forty percent of Runkel’s 2026 long-term incentive value is in time-vesting restricted stock units reported in this filing. The remaining 60% is in performance-based restricted stock units, which will be earned based on company performance from 2026 through 2028 and determined in early 2029.

What are the performance-based restricted stock units mentioned in US Bancorp vice chair’s Form 4?

Performance-based restricted stock units comprise 60% of Runkel’s 2026 long-term incentive award. The number of units ultimately earned, and eligible to be settled in shares, will be determined in early 2029 based on US Bancorp’s performance against specified targets from 2026 through 2028.

What indirect US Bancorp share holdings did Mark G. Runkel report in his Form 4 filing?

Runkel reported 458 shares of US Bancorp common stock held indirectly through a 401(k) plan and 2,846 shares held indirectly through a trust. These indirect positions are based on a plan report dated February 27, 2026, which provided the most recent available holding information.