Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 17

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 17
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 work in the financial services industry.

| ​ | U.S. Bancorp 2025 Proxy Statement | ​ | ​ | 15 | ​ |

TABLE OF CONTENTS Proposal 1 — Election of directors Andrew Cecere
Director since January 2017 Committees ▶ Cybersecurity and Technology ▶ Risk Management ▶ Chair, Executive Business experience:Mr. Cecere, 64, is the Chairman and Chief Executive Officer of U.S. Bancorp. He has served in this position since May 2024 and previously served as Chairman, President and Chief Executive Officer since April 2018. He served as President and Chief Executive Officer from April 2017 to April 2018, as well as President and Chief Operating Officer from January 2016 to April 2017, after having served as Vice Chairman and Chief Operating Officer from January 2015 until January 2016. From February 2007 until January 2015, Mr. Cecere served as U.S. Bancorp’s Vice Chairman and Chief Financial Officer, after having served as Vice Chairman, Wealth Management and Investment Services of U.S. Bancorp since the merger of Firstar Corporation and U.S. Bancorp in February 2001. Previously, he had served as an executive officer of U.S. Bancorp before its merger with Firstar, including as Chief Financial Officer from 2000 through 2001. Other public company directorships: ▶ Donaldson Company, Inc. from 2013 to 2021 Skills and qualifications: ▶ Chief executive experience:As CEO of U.S. Bancorp, Mr. Cecere brings to all Board discussions and deliberations deep knowledge of our company and its business, which is particularly important following the acquisition and integration of MUFG Union Bank. ▶ Corporate governance:Through his current experience as our Chairman and through his current and past experience on public company boards, Mr. Cecere brings valuable corporate governance experience to our Board. ▶ Financial reporting and accounting:Through his prior service on the audit committee of a public company, as well as his past experience as CFO of U.S. Bancorp, Mr. Cecere brings valuable financial reporting and accounting expertise to our Board. ▶ Financial services industry expertise:Mr. Cecere has deep expertise in the financial services industry, gained through a career of nearly 40 years at U.S. Bancorp. ▶ Risk management:Mr. Cecere brings to our Board valuable risk management expertise gained through his work as CFO, Chief Operating Officer, and then