X0306 4 2014-02-20 0000036104 US BANCORP \DE\ USB 0001415300 Parker P.W. 800 NICOLLET MALL MINNEAPOLIS MN 55402 1 Vice Chairman Employee Stock Option (Right to Buy) 40.3200 2014-02-20 4 A 0 38445.0000 0.0000 A 2024-02-20 Common Stock, $0.01 par value 38445.0000 38445.0000 D Restricted Stock Units 2014-02-20 4 A 0 32552.0000 0.0000 A 2015-02-20 Common Stock, $0.01 par value 32552.0000 32552.0000 D The options vest in four equal annual installments beginning on February 20, 2015. These options make up part of the reporting person's 2014 long-term incentive compensation grant. Restricted stock units convert into common stock on a one-for-one basis at the time of vesting. Prior to the first vesting, the number of units subject to the award will be adjusted based on the company's one-year performance against certain performance targets set on the grant date. The number of units may increase to as much as 125%, or decrease to as little as 0%, of the initial number of units. These restricted stock units make up part of the reporting person's 2014 long-term incentive compensation grant. The restricted stock units vest in four equal annual installments beginning on the date listed in the Date Exercisable column of Box 6. James L. Chosy for P.W. Parker 2014-02-24