Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 80

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 80
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 the Pension benefits table by the following amounts: (i) Mr. Cecere, $1,276,201; (ii) Mr. Stern, $29,333; (iii) Ms. Kedia, $21,781; (iv) Mr. Dolan, $0; (v) Mr. Kotwal, $12,047; and (vi) Mr. Welsh, $12,957. The incremental value for Mr. Cecere includes one accelerated year of service for this SERP benefit upon reaching age 60, and his benefits are all now payable upon separation of service. As Messrs. Stern, Kotwal and Welsh and Ms. Kedia have not yet attained age 62, only their qualified retirement benefits can be accelerated.

| ​ | U.S. Bancorp 2025 Proxy Statement | ​ | ​ | 71 | ​ |

TABLE OF CONTENTS Executive compensation

Quantification of estimated payments and benefits The following table shows potential annual cash payments to the NEOs upon disability and the potential benefits the NEOs could accrue through accelerated equity vesting upon death or involuntary termination of employment (other than for cause) following a change-in-control of U.S. Bancorp. No information regarding pension amounts payable to the NEOs is shown in the following table; applicable pension amounts payable to NEOs are discussed above under the heading “Pension benefits.” The amounts shown assume that termination was effective as of December 31, 2024 (the last business day of the year), and are estimates of the amounts that would be paid to the NEOs upon termination, in addition to the base salary and cash incentive payments earned by them during 2024. The actual amounts to be paid can only be determined at the time of an NEO’s termination. Potential payments upon disability, death or termination after a change-in-control

| ​ | Name                     | ​ | ​ | Type of payment | ​ |         ​ | Annualcash disabilitypayments($) |   |           |   | ​ |          ​ | Paymentsupon death($)1 |   |            |   | ​ |          ​ | Payments upon involuntarytermination (otherthan for cause) after achange-In-control($) |   |            |   | ​ |
| ​ | Andrew Cecere            | ​ | ​ | ​               | ​ |         ​ | ​                                | ​ |         ​ | ​ | ​ |          ​ | ​                      | ​ |          ​ | ​ | ​ |          ​ | ​                                                                                      | ​ |          ​ |