Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 108

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 108
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 the recommendations of the Board. Our telephone voting procedures do not permit you to submit your proxy vote by telephone without specifying how you want your shares voted.

| ​ | U.S. Bancorp 2025 Proxy Statement | ​ | ​ | 89 | ​ |

TABLE OF CONTENTS Questions and answers about the annual meeting and voting

What if I hold my shares in street name and do not provide voting instructions? If you hold your shares in street name and do not provide voting instructions, your broker, bank, trust company or other nominee has discretionary authority to vote your shares on the ratification of the selection of EY as our independent auditor. However, in the absence of your specific instructions as to how to vote, your broker, bank, trust company or other nominee does not have discretionary authority to vote on any other proposal. Such a situation results in a “broker non-vote,” which does not have an effect on the outcome of the proposal. It is important, therefore, that you provide instructions to your broker, bank, trust company or other nominee so that your vote with respect to the other proposals is counted. What is the voting standard and what is the effect of abstentions? You may vote “FOR,” “AGAINST” or “ABSTAIN” with respect to the election of each nominee for the Board of Directors (Proposal 1), the advisory vote on executive compensation (Proposal 2), the ratification of the selection of our independent auditor (Proposal 3) and the shareholder proposal regarding a report on board oversight of risks relating to discrimination (Proposal 4). The following table summarizes the voting standard applicable to each proposal and the effect of an “ABSTAIN” vote in each instance.

| ​ | Proposal              | ​ | ​ | Voting standard                                                                                                           | ​ | ​ | Effect of  “ABSTAIN” vote     | ​ |
| ​ | Election of directors | ​ | ​ | The nominee is elected if the number of votes cast “FOR” him or her exceeds the number of votes cast “AGAINST” him or her | ​ | ​ | No effect                     | ​ |
| ​ | Other proposals       | ​ | ​ | The proposal is approved if  “FOR” votes are cast by the majority of shares present and entitled to vote on the matter    | ​ | ​ | Same effect as “AGAINST” vote | ​ |

What does it mean if I receive more than one notice of Internet availability of proxy materials, proxy card, voting instruction form, or e-mail