Company: USB-PA
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001104659-25-020883
Chunk: 69

Company: US BANCORP \DE\
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 69
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 performance period. Any earned PRSUs will vest on March 2, 2026, the third anniversary of the grant date. 6. The RSUs vest in three annual installments commencing on the first anniversary of grant date, such that 33% of the RSUs vest on March 3, 2023, and March 3, 2024, respectively, and the remaining 34% of the RSUs vest on March 3, 2025. 7. The amount shown represents the actual number of PRSUs earned based on our performance during the three-year performance period beginning on January 1, 2022, and ending December 31, 2024, as compared to the targets set forth in the applicable award agreements and determined by the Compensation and Human Resources Committee. These awards vest on March 3, 2025, the third anniversary of the grant date. 8. The RSUs vest in three annual installments aligning with the annual awards, such that 33% of the RSUs vest on February 28, 2025 and February 28, 2026, respectively, and the remaining 34% of the RSUs vest on February 28, 2027.

| ​ | 64 | ​ | ​ | U.S. Bancorp 2025 Proxy Statement | ​ |

TABLE OF CONTENTS Executive compensation

9. The amount shown represents the maximum number of PRSUs that can be earned during the three-year performance period of January 1, 2024 to December 31, 2026. The actual number of PRSUs earned will be between 0% and 150% of target based on the company’s absolute and relative ROE performance during the performance period, as set forth in the applicable award agreements and as determined by the Compensation and Human Resources Committee. Performance for 2024 was above target, but the results could change during the remaining two years of the performance period. Any earned PRSUs will vest on February 28, 2027, aligning with the annual awards. Option exercises and stock vested The following table summarizes information with respect to stock option awards exercised and RSUs and PRSUs vested during fiscal year 2024. Option exercises and stock vested during fiscal year 2024

| ​ | ​                  | ​ | ​ | Option awards                           |   |        |   |   |   |                               |   |        |   | ​ | ​ | Stock awards                           |   |