Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 18

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 18
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 CEO of U.S. Bancorp during the challenging regulatory and market environment of recent years.

| ​ | 16 | ​ | ​ | U.S. Bancorp 2025 Proxy Statement | ​ |

TABLE OF CONTENTS Proposal 1 — Election of directors Alan B. Colberg
Director since January 2023 Committees ▶ Audit ▶ Public Responsibility Business experience:Mr. Colberg, 63, is the retired President and Chief Executive Officer of Assurant, Inc., a financial services company providing specialty insurance products and services. He served as Chief Executive Officer and a director of Assurant from January 2015 to December 2021, and as its President from 2014 to May 2021, prior to his retirement in January 2022. Prior to those roles, he served as Executive Vice President of Marketing and Business Development. Before joining Assurant in March 2011, Mr. Colberg served in various senior leadership roles for 22 years at Bain & Company, Inc., a management consulting company, where he served as global head of Bain’s financial services practice, among other roles. Early in his career, Mr. Colberg worked as an accountant for The Procter & Gamble Company. Other public company directorships: ▶ Corebridge Financial, Inc.since 2022 (Chair of the Board; Chair of Nominating and Corporate Governance Committee) ▶ Assurant, Inc. from 2015 to 2021 Skills and qualifications: ▶ Chief executive experience:As the former President and CEO of Assurant, Mr. Colberg provides valuable leadership and management expertise to our Board. ▶ Corporate governance:Mr. Colberg brings significant corporate governance expertise to our Board gained from his experience as the President and CEO of a public company and through his experience as a current and past board member, board chair, and committee chair of multiple public companies, including as the former chair of the Nominating and Governance Committee at CarMax, Inc. ▶ Financial reporting and accounting:Through his service as CEO of Assurant, as a member and chair of the audit committees of the boards of public companies, and his accounting and educational background, Mr. Colberg brings financial reporting and accounting experience to our Board. ▶ Financial services industry expertise:Mr. Colberg’s experience as the former President and CEO of a financial services company and former head of the financial services practice at a large consulting company provides important expertise to our Board on managing the economic and regulatory environment currently