Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 64

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 64
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 for personal expenses incurred in connection with the attendance of her spouse at a required client event where the presence of spouses was expected, and (iii) a $150 non-cash gift. The amount for Mr. Kotwal represents a matching contribution under our charitable matching gifts program, which is available to all our employees. The amount for Mr. Welsh represents payments made in connection with his termination, including (i) a $400,000 payment equivalent to six months of base salary under the company’s broad-based U.S. Bank Severance Pay Program (the Severance Pay Program), (ii) a $1,350,000 payment equivalent to a pro-rated amount calculated based on his annual incentive target award level of $1,800,000 under the AEIP for the number of full months worked in the period from January 1, 2024 through October 4, 2024, paid following his last day of employment on October 4, 2024 under the Severance Pay Program, (iii) a $46,816 payment for unused vacation, payable on his termination and (iv) a $487 non-cash gift. See “Potential payments upon termination or change-in-control” for additional information on the payments under our Severance Pay Program. The aggregate incremental cost for corporate-owned aircraft is determined by multiplying the total number of personal flight hours by the direct variable operating costs of the aircraft per hour including costs related to fuel, landing and parking fees, and crew expenses. For fractionally-owned aircraft, including amounts referenced in footnote (a) above, the incremental cost is determined by multiplying the total number of personal flight hours by the contracted hourly and fuel charges. As the aircraft are used primarily for business travel, we do not include fixed costs that do not change based on usage, such as crew salaries, aircraft acquisition costs and monthly management fees for fractionally-owned aircraft. In addition, a NEO’s spouse might accompany him or her on a business-related flight on a company-owned aircraft if a seat on that aircraft would otherwise be empty. There is no incremental cost to our company for such flights. Our NEOs are occasionally permitted to use sporting and cultural events tickets. As such tickets were previously acquired by our company for business entertainment, there is no incremental cost to our company for the use of such tickets.

| ​ | U.S. Bancorp 2025 Proxy Statement | ​ | ​ | 61 | ​ |

TABLE OF CONTENTS Executive compensation

Grants of plan-based awards The following table summarizes the equity and non-equ