Barcelos Elcio R.T. 4

What Happened Elcio R.T. Barcelos, Senior EVP and Chief Human Resources Officer of US Bancorp (USB), received a grant of 22,259 restricted stock units (RSUs) on March 5, 2026. The Form 4 reports an acquisition at $0.00 per share (typical for equity awards), so there was no cash paid by the insider at grant. This is an award (not a market purchase or sale).

Key Details

• Transaction date: 2026-03-05; reported on Form 4 filed 2026-03-09 (timely — within two business days).
• Transaction type/code: Award/Grant (A).
• Shares/units granted: 22,259 restricted stock units; reported acquisition price $0.00 (no immediate cash value reported on the Form 4).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnote summary: The RSUs vest 33% on March 5, 2027, 33% on March 5, 2028, and 34% on March 5, 2029. These RSUs represent 40% of Barcelos’s 2026 long‑term incentive award; the other 60% was granted as performance-based RSUs whose payout (if any) will be determined in early 2029 based on 2026–2028 performance.

Context RSU grants are standard long‑term compensation: they don't require immediate cash from the executive and typically convert to shares (and taxable income) only as they vest. This grant is an internal compensation action rather than an open‑market buy or sale, so it doesn't directly signal the insider buying or selling stock for personal liquidity.