Kedia Gunjan 4

What Happened

• Kedia Gunjan, President & CEO and a director of US Bancorp (USB), received a grant of 100,167 restricted stock units (RSUs) on March 5, 2026. The Form 4 records the award as acquired at $0 (standard for equity compensation grants). These RSUs are time-based and will convert into shares if and when they vest.

Key Details

• Transaction date: 2026-03-05; filing date: 2026-03-09 (timely under Section 16 reporting rules).
• Grant size: 100,167 restricted stock units; reported acquisition price: $0.00.
• Vesting schedule (footnote): 33% vest on March 5, 2027; 33% on March 5, 2028; 34% on March 5, 2029.
• Award composition: these RSUs represent 40% of the reporting person’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 targets.
• Shares owned after the transaction: not specified in this filing.
• Transaction code: A = award/grant.

Context

• This was a compensation grant, not an open-market purchase or sale. RSUs do not result in issued common shares until they vest and are settled, so this does not reflect an immediate change in tradable shares held. Performance-based portion will vest only if performance targets are met, with final share counts reported when determined.