Timothy A. Welsh - Mar 3, 2022 Form 4 Insider Report for US BANCORP \DE\ (USB)

Role: Vice Chair
Signature: James L. Chosy by power of attorney for Timothy A. Welsh
Stock symbol: USB
Transactions as of: Mar 3, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/7/2022, 03:33 PM
Previous filing: Feb 16, 2022
Next filing: Mar 8, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	USB	Common Stock, $0.01 par value	Award	$0	+23.1K	+25.16%	$0.00	115K	Mar 3, 2022	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The restricted stock units vest 33% on each of March 3, 2023 and 2024, and 34% on March 3, 2025. These restricted stock units make up 40% of the value of the reporting person's long-term incentive compensation award granted in 2022. 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 2025 based on the company's performance against certain performance targets from 2022 through 2024 and will be reported at the time of such determination.

Content

The restricted stock units vest 33% on each of March 3, 2023 and 2024, and 34% on March 3, 2025. These restricted stock units make up 40% of the value of the reporting person's long-term incentive compensation award granted in 2022. 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 2025 based on the company's performance against certain performance targets from 2022 through 2024 and will be reported at the time of such determination.