Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 102

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 102
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(k) Savings Plan; ▶ for Mr. Welsh, includes 4,232 shares held in the U.S. Bank 401(k) Savings Plan;

| ​ | 86 | ​ | ​ | U.S. Bancorp 2025 Proxy Statement | ​ |

TABLE OF CONTENTS Security ownership of certain beneficial owners and management

▶ for Mr. Wine, includes 400 shares held in trusts of which Mr. Wine is trustee; and ▶ for all directors and executive officers as a group, includes 27,718 shares held in the U.S. Bank 401(k) Savings Plan for the accounts of certain executive officers. 2. Restricted stock units
RSUs (including PRSUs earned based on the applicable performance criteria over the three-year performance period held by our executive officers) are distributable in an equivalent number of shares of our common stock upon settlement. RSUs granted to our officers are settled as they vest, and RSUs granted to our directors are immediately vested but do not settle until the director ceases to serve on the Board. The number of RSUs and PRSUs that are currently vested, or that vest within 60 days of February 3, 2025, is included in this column. 3. Deferred compensation
Certain of our directors have deferred cash compensation under our deferred compensation plans. Some of these deferred amounts will be paid out in shares of our common stock upon the director’s termination of service with U.S. Bancorp. The directors have no voting or investment power as to these shares. The number of shares to which the directors would have been entitled had their service with U.S. Bancorp been terminated as of February 3, 2025, is included in this column. 4. Depositary Shares
As of February 3, 2025, Mr. Colberg held 5,000 depositary shares, each representing a 1/25 thinterest in a share of U.S. Bancorp Series N Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock. As of February 3, 2025, Mr. Stephen Philipson held 26 depositary shares, each representing a 1/1000 thinterest in a share of U.S. Bancorp Series M Non-Cumulative Perpetual Preferred Stock. Mr. Colberg and Mr. Philipson are the only directors or executives who own depositary shares representing the company’s preferred stock. 5. Mr. Kotwal served as Vice Chair, Payment Services until February