US Bancorp (USB) top counsel receives 22,259-share restricted stock award

Rhea-AI Filing Summary

US Bancorp Senior EVP and General Counsel James L. Chosy reported an acquisition of 22,259 shares of common stock on March 5, 2026 as a grant/award at a stated price of $0.00 per share. Following this award, his directly held stake is 254,910 shares of common stock.

Footnotes explain that these are restricted stock units that vest 33% on each of March 5, 2027 and 2028, and 34% on March 5, 2029. They represent 40% of his 2026 long‑term incentive award, with the remaining 60% granted as performance‑based restricted stock units that will be determined in early 2029 based on company performance from 2026 through 2028.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider CHOSY JAMES L

Role Senior EVP and General Counsel

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $0.01 par value	22,259	$0.00	--

Holdings After Transaction: Common Stock, $0.01 par value — 254,910 shares (Direct)

Footnotes (1)

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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^*

CHOSY JAMES L

(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 and General Counsel

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		22,259(1)	A	$0.0000	254,910	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. 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.

	/s/ James L. Chosy	03/09/2026
	** 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 USB executive James L. Chosy report?

James L. Chosy reported an acquisition of 22,259 shares of US Bancorp common stock as a grant or award. The transaction was recorded at a stated price of $0.00 per share and increased his directly held position to 254,910 shares after the award.

How many US Bancorp (USB) shares does James L. Chosy hold after this Form 4?

After the reported award, James L. Chosy holds 254,910 shares of US Bancorp common stock directly. This figure reflects the newly granted 22,259-share award and represents his reported beneficial ownership following the March 5, 2026 long-term incentive compensation grant.

What type of award did James L. Chosy receive from US Bancorp (USB)?

He received a grant of 22,259 restricted stock units tied to US Bancorp common stock. These units are part of his 2026 long-term incentive compensation, vesting in installments and settling in shares as they vest, subject to the company’s standard award terms and conditions.

When do James L. Chosy’s US Bancorp restricted stock units vest?

The restricted stock units vest 33% on March 5, 2027, 33% on March 5, 2028, and 34% on March 5, 2029. This three-year vesting schedule gradually delivers shares over time as part of his long-term incentive compensation structure.

How is James L. Chosy’s 2026 long-term incentive award at US Bancorp structured?

According to the disclosure, 40% of his 2026 long-term incentive award value is in time-based restricted stock units. The remaining 60% is in performance-based restricted stock units, which will be earned and determined in early 2029 based on company performance from 2026 through 2028.

Will additional US Bancorp (USB) shares be reported later from this award?

Yes. The filing notes that performance-based restricted stock units, representing 60% of his 2026 award, will be earned based on performance from 2026–2028. The number of units ultimately earned will be determined in early 2029 and reported at that time.