Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 89

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 89
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 paid to committee chairs. Cash compensation for Board and committee service during the April 2024 — April 2025 term Our non-employee directors received the following cash fees for serving on the Board and committees this term:

| ​ | ​                                                                                                                           | ​ | ​ |   |   |         | Retainer | ​ |
|:--|:----------------------------------------------------------------------------------------------------------------------------|:--|:--|:--|:--|--------:|:---------|:--|
| ​ | Annual retainer for service on the Board                                                                                    | ​ | ​ | ​ | $ | 100,000 | ​        | ​ |
| ​ | Additional annual retainer for Lead Independent Director                                                                    | ​ | ​ | ​ | $ |  50,000 | ​        | ​ |
| ​ | Additional annual retainer for chairs of Compensation and Human Resources, Governance, and Public Responsibility Committees | ​ | ​ | ​ | $ |  30,000 | ​        | ​ |
| ​ | Additional annual retainer for chairs of Audit and Risk Management Committees                                               | ​ | ​ | ​ | $ |  45,000 | ​        | ​ |
| ​ | Additional annual retainer for chair of Cybersecurity and Technology Subcommittee                                           | ​ | ​ | ​ | $ |  25,000 | ​        | ​ |
| ​ | Additional annual retainer for other members of Audit and Risk Management Committees                                        | ​ | ​ | ​ | $ |  20,000 | ​        | ​ |

In addition, each non-employee director received $1,500 for attendance at each meeting that was not a regularly scheduled Board or committee meeting and each meeting of a special committee/subcommittee, including the Cybersecurity and Technology Subcommittee. Equity award for Board service during the April 2024 — April 2025 term Each non-employee director received an annual award of restricted stock units with a grant date fair value of approximately $185,000 under the U.S. Bancorp 2024 Stock Incentive Plan, which reflects the Board’s approval of a $10,000 increase in the annual award based on its annual review of director compensation, market competitiveness, and taking into consideration the advice of its independent compensation consultant. The restricted stock units were fully vested at the time of grant, but the underlying shares will not be delivered until the director ceases to serve on the Board. Each non-employee director may elect to have all of his or her shares delivered promptly following cessation of service or to have the shares