Director at US Bancorp (NYSE: USB) receives 3,355 RSUs

Rhea-AI Filing Summary

Gillani Aleem reported acquisition or exercise transactions in this Form 4 filing.

US Bancorp director Aleem Gillani reported a stock-based compensation grant. He received 3,355 restricted stock units on common stock, each convertible into one share on a one-for-one basis. The units were fully vested at the time of grant and are held directly.

The units are payable in common stock when Gillani stops serving on the Board of Directors and is no longer an independent contractor of the company. All granted units will be forfeited if his service is terminated for cause. After this award, his reported holdings in these restricted stock units total 3,355 units.

Insights

Equity compensation analyst

Routine director RSU grant with deferred share delivery.

Aleem Gillani, a director of US Bancorp, received 3,355 restricted stock units as a fully vested stock-based compensation grant. This is a non-cash award and does not involve any open-market buying or selling activity.

The RSUs convert into common stock on a one-for-one basis, but shares are delivered only when Gillani no longer serves on the Board and is not an independent contractor. All units are forfeited if his service ends for cause, tying value to continued service and good standing.

Because this filing reflects routine director compensation and no share sales or purchases, it is generally viewed as administratively neutral from a trading-signal perspective. The award establishes a 3,355-unit position in RSUs for Gillani as of the grant date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gillani Aleem

Role null

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	3,355	$0.00	--

Holdings After Transaction: Restricted Stock Units — 3,355 shares (Direct, null)

Footnotes (1)

1. Restricted stock units convert into common stock on a one-for-one basis. 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

RSUs granted: 3,355 units Transaction price per unit: $0.00 RSUs following transaction: 3,355 units +1 more

4 metrics

RSUs granted 3,355 units Restricted stock units granted on 2026-04-23

Transaction price per unit $0.00 Grant price for restricted stock units

RSUs following transaction 3,355 units Total restricted stock units held after grant

Underlying common shares 3,355 shares Common stock underlying the RSUs on a one-for-one basis

Key Terms

Restricted Stock Units, one-for-one basis, Board of Directors, terminated for cause

4 terms

Restricted Stock Units financial

"The restricted stock units were fully vested at the time of grant."

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.

one-for-one basis financial

"Restricted stock units convert into common stock on a one-for-one basis."

Board of Directors financial

"payable in common stock when the reporting person ceases to serve on the Board of Directors"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

terminated for cause financial

"all units are forfeited if the holder's service is terminated for cause."

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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^*

Gillani Aleem

(Last) (First) (Middle)

C/O U.S. BANCORP

800 NICOLLET MALL

(Street)

MINNEAPOLIS MINNESOTA 55402

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/23/2026

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

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

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

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
Restricted Stock Units	(1)	04/23/2026		A		3,355		04/23/2026(2)	(2)	Common Stock, $0.01 par value	3,355	$0.0000	3,355	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. 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.

	/s/ James L. Chosy by power of attorney for Aleem Gillani	04/27/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Aleem Gillani report in this US Bancorp (USB) Form 4 filing?

Aleem Gillani reported receiving 3,355 restricted stock units tied to US Bancorp common stock. The units are a stock-based compensation grant, fully vested at grant, and increase his reported holdings in these RSUs to 3,355 units following the transaction.

How many restricted stock units did the US Bancorp (USB) director receive?

The director received 3,355 restricted stock units. Each unit represents the right to receive one share of US Bancorp common stock in the future, subject to the payout conditions and potential forfeiture terms described for this award.

When will Aleem Gillani’s US Bancorp (USB) RSUs be paid in shares?

The restricted stock units are payable in US Bancorp common stock when Gillani ceases serving on the Board of Directors and is not providing services as an independent contractor. Until then, the 3,355 units remain outstanding as deferred stock-based compensation.

Are the US Bancorp (USB) restricted stock units fully vested at grant?

Yes. The filing states the restricted stock units were fully vested at the time of grant. Although fully vested, they are only settled in common stock when Gillani’s Board service and any independent contractor role with the company have both ended, subject to forfeiture conditions.

Under what conditions are Aleem Gillani’s US Bancorp (USB) RSUs forfeited?

All of the restricted stock units are forfeited if Gillani’s service is terminated for cause. This means the 3,355 units will have no value if his Board or independent contractor service ends under a for-cause termination, aligning the award with continued compliant service.

Does this US Bancorp (USB) Form 4 show any open-market stock trades?

No. The Form 4 shows a grant of 3,355 restricted stock units with a transaction price of $0.00 per unit. It reflects stock-based compensation, not open-market purchases or sales of US Bancorp common stock by the reporting person.