Company: USB-PA
Filing Date: 2025-01-28
Form Type: 8-K
Source: 0001193125-25-014216
Chunk: 1

Company: US BANCORP \DE\
Filing Date: 2025-01-28
Form: 8-K
Item: Item 5.02
Chunk 1
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 Additional information about U. S. Bancorp’s executive compensation program and ROTCE, which is a non-GAAPfinancial measure, can be found in its 2024 proxy statement. The terms of the compensation Mr. Cecere will receive as Executive Chairman have not been determined at this time.

During 2024, U. S. Bancorp and its banking and investment subsidiaries engaged in transactions in the ordinary course of business with Ms. Kedia and certain of her family members, and the entities with which they are associated. All loans and loan commitments and any transactions involving other financial products and services in connection with these transactions were made in the ordinary course of business, on substantially the same terms, including current interest rates and collateral, as those prevailing at the time for comparable transactions with others not related to U. S. Bancorp’s banking and investment subsidiaries and did not involve more than the normal risk of collectibility or present other unfavorable features.

A copy of the press release issued by U. S. Bancorp on January 28, 2025, to announce the Chief Executive Officer succession and the election of Ms. Kedia to the Board is filed as Exhibit 99.1 to this Current Report on Form8-Kand is incorporated herein by reference.