X0306 4 2020-02-10 0000036104 US BANCORP \DE\ USB 0001753624 Aziz Ismat 800 NICOLLET MALL MINNEAPOLIS MN 55402 1 Senior EVP, Chief HR Officer Common Stock, $0.01 par value 2020-02-10 4 A 0 11713.0000 0.0000 A 33195.0000 D The restricted stock units vest 33% on each of February 10, 2021 and 2022, and 34% on February 10, 2023. These restricted stock units make up 40% of the value of the reporting person's long-term incentive compensation award granted in 2020. The remaining 60% of the award value was granted in the form of performance-based restricted stock units. The number of units that will be earned and eligible to be settled in shares of common stock will be determined in early 2023 based on the company's performance against certain performance targets from 2020 through 2022 and will be reported at the time of such determination. James L. Chosy for Ismat Aziz 2020-02-12