US Bancorp (USB) vice chair awarded 19,099 performance-based shares

Rhea-AI Filing Summary

US Bancorp vice chair Mark G. Runkel received a grant of 19,099 shares of common stock at no cost, raising his directly held stake to 116,827 shares. The award reflects performance-based restricted stock units tied to company results over a three-year period ending December 31, 2025.

The performance units, which made up 60% of his 2023 long-term incentive award, are scheduled to vest on March 2, 2026 and be settled in shares. Runkel also reports indirect holdings of 458 shares through a 401(k) plan and 2,846 shares held by a trust.

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)
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		19,099(1)	A	$0.0000	116,827	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. 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.

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

	/s/ James L. Chosy by power of attorney for Mark G. Runkel	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) vice chair Mark Runkel report?

Mark G. Runkel reported receiving 19,099 US Bancorp common shares as a grant. The shares were acquired at no cost as part of performance-based restricted stock units linked to his 2023 long-term incentive award, determined by company performance over a three-year period.

How many US Bancorp (USB) shares does Mark Runkel own after this Form 4 filing?

After the reported grant, Mark Runkel directly holds 116,827 US Bancorp shares. He also reports indirect ownership of 458 shares through a 401(k) plan and 2,846 shares held by a trust, reflecting total reported beneficial ownership across direct and indirect accounts.

What performance period determined Mark Runkel’s performance-based share award at US Bancorp (USB)?

The performance-based award was determined using results from January 1, 2023 to December 31, 2025. Company performance against preset targets over this three-year period set how many restricted stock units were earned and eligible to be settled into common shares.

When do Mark Runkel’s US Bancorp (USB) performance-based restricted stock units vest?

The performance-based restricted stock units are scheduled to vest on March 2, 2026. On that date, the earned units can be settled in US Bancorp common stock, reflecting performance against the company’s preset targets over the preceding three-year measurement period.

What portion of Mark Runkel’s 2023 long-term incentive at US Bancorp (USB) was performance-based?

Performance-based restricted stock units made up 60% of his 2023 long-term incentive award. These units were granted on March 2, 2023, with the actual number earned based on US Bancorp’s performance over the multi-year period ending December 31, 2025.