Andrew Cecere - Mar 2, 2023 Form 4 Insider Report for US BANCORP \DE\ (USB)

Role
Chairman, President and CEO, Director
Signature
James L. Chosy by power of attorney for Andrew Cecere
Stock symbol
USB
Transactions as of
Mar 2, 2023
Transactions value $
-$469,537
Form type
4
Date filed
3/6/2023, 03:54 PM
Previous filing
Feb 13, 2023
Next filing
Mar 7, 2023

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 +90.7K +8.97% $0.00 1.1M Mar 2, 2023 Direct F1
transaction USB Common Stock, $0.01 par value Tax liability -$470K -10.1K -0.92% $46.31 1.09M Mar 3, 2023 Direct
holding USB Common Stock, $0.01 par value 13.2K Mar 2, 2023 By 401(k) plan F2
holding USB Common Stock, $0.01 par value 341 Mar 2, 2023 By Spouse
* 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 2, 2024 and 2025, and 34% on March 2, 2026. These restricted stock units make up 40% of the value of the reporting person's long-term incentive compensation award granted in 2023. 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 2026 based on the company's performance against certain performance targets from 2023 through 2025 and will be reported at the time of such determination.
F2 Based on a plan report dated February 28, 2023, the most recent plan report available.