Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 63

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 63
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 (the Pension Plan) and the U.S. Bank Non-Qualified Retirement Plan (the Non-Qualified Plan) from December 31, 2023 to December 31, 2024. A number of factors can cause the amounts reflected in this column to vary significantly, including volatility in the discount rate applied to determine the value of future payment streams and changes to mortality assumptions. The change in present value amounts reported for 2024 are smaller than those reported for 2023 for certain NEOs. These smaller increases in value are due to the increase in discount rates in 2024; year-end 2024 rates were roughly 65 basis points higher than for year-end 2023, compared with a roughly 45 basis point decrease from the prior year (which significantly increased the 2023 values). Other factors contributing to the change amounts are increases in pay, age and service. The net present values of the pension benefits as of December 31, 2024, used to calculate the net change in pension benefits were determined using the same assumptions used to determine our pension obligations and expense for financial statement purposes. See Note 16 to our consolidated financial statements included in our 2024 Annual Report on Form 10-K for these specific assumptions. Additional information about our Pension Plan and Non-Qualified Plan is included below under the heading “Pension benefits.” We have not provided above-market or preferential earnings on any nonqualified deferred compensation and, accordingly, no such amounts are reflected in this column. 5. All other compensation
The following table describes each component of the All Other Compensation column for fiscal year 2024:

| ​ | Name       | ​ | ​ | Parkingreimbursement($) |   |       |   | ​ | ​ | Matchingcontribution into401(k) savingsplan($) |   |        |   | ​ | ​ | Reimbursementof financialplanningexpenses($) |   |        |   | ​ | ​ | Homesecuritysystemexpenses($) |   |       |   | ​ | ​ | Commutingexpenses($)a |   |         |   | ​ | ​ | Housingexpenses($)a |   |        |   | ​ | ​ | Businessclubdues($) |   |       |   | ​ | ​ | Other($)b |   |           |   | ​ | ​ | Total($) |   |           |   | ​ |
| ​ | Mr. Cecere | ​ | ​ | ​                       | ​ | 5,400 | ​ |