Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 14

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 14
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 ​ | ​ | ​                             | 5.6 avg. | ​ | ​ | ​ | <1 avg. | ​ | ​ |

| ​ | U.S. Bancorp 2025 Proxy Statement | ​ | ​ | 13 | ​ |

TABLE OF CONTENTS Proposal 1 — Election of directors 2025 nominees for director Each of the director nominees named below has agreed to serve as a director if elected. Proxies may not be voted for more than 14 nominees. If, for any reason, any nominee becomes unable to serve before the election, the persons named as proxies will vote your shares for a substitute nominee selected by the Board of Directors. Alternatively, the Board of Directors may choose to reduce the number of directors that are nominated for election. In addition, as described below under “Majority vote standard for election of directors,” each of the nominees has tendered his or her contingent resignation as a director in accordance with our Corporate Governance Guidelines, to be effective if he or she fails to receive a majority of the votes cast in an uncontested election and the Board accepts the tendered resignation. Included below is certain information that the director nominees have provided about themselves, as well as additional information that the Board considered in nominating them. Warner L. Baxter
Director since December 2015 Committees ▶ Chair, Audit ▶ Compensation and Human Resources ▶ Executive Business experience:Mr. Baxter, 63, is the retired Executive Chairman and former Chairman, President and Chief Executive Officer of Ameren Corporation, a regulated electric and gas utility company serving customers in Missouri and Illinois. He served as the Executive Chairman from January 2022 to November 2023. Prior to that time, Mr. Baxter served as Chairman, President and Chief Executive Officer of Ameren Corporation from 2014 to January 2022. Mr. Baxter also served as the Chairman of the Board of Directors of the Edison Electric Institution, an association representing all U.S. investor-owned electric companies, from June 2022 to June 2023 and as Vice Chairman from 2020 to June 2022. Mr. Baxter served as Chairman, President and Chief Executive Officer of Ameren Missouri from 2009 to 2014 and as Executive Vice President and Chief Financial Officer of Ameren Corporation from 2003 to 2009. Before joining Ameren, Mr. Baxter served as a Senior Manager at PricewaterhouseCoopers LLP (PwC). Other public company directorships: ▶ Quanta Services, Inc.since