Barcelos Elcio R.T. 4

What Happened Elcio R.T. Barcelos, Senior Executive Vice President and Chief Human Resources Officer of US Bancorp (USB), received an award of 32,323 performance-based restricted stock units (RSUs) on 2026-02-11. The Form 4 reports the acquisition as an award (code A) at $0.00 per share (typical for equity grants). These RSUs are scheduled to vest on March 2, 2026 and will be settled in shares of common stock if performance and vesting conditions are met.

Key Details

• Transaction date (reporting period): 2026-02-11; Form 4 filed: 2026-02-12 (timely filing).
• Transaction type: Award/Grant (performance-based restricted stock units), 32,323 units; reported acquisition price = $0.00.
• Vesting/settlement: These RSUs vest on March 2, 2026 and are eligible to be settled in common stock upon vesting.
• Footnote: The units represent performance-based RSUs that made up 60% of the grant-date fair value of Barcelos’s 2023 long-term incentive award (granted 3/2/2023). The number of units earned was determined on 2/11/2026 based on company performance over the 1/1/2023–12/31/2025 performance period.
• Shares owned after the transaction: not specified in the provided filing details.
• Filing timeliness: Filed the day after the transaction (no late-report indication).

Context Performance-based RSU grants are a routine part of executive compensation and reflect payout tied to multi-year company performance metrics rather than an outright purchase or sale by the insider. Because this is an award (not a purchase or sale), it should not be read as a direct bullish or bearish trading signal by itself. Upon vesting and settlement, the shares could be retained or later sold, which would be reported in future filings.