Richard Jodi L 4

What Happened

• Jodi L. Richard, Vice Chair of US Bancorp (USB), was granted 29,679 restricted stock units (RSUs) on March 5, 2026. The grant is reported as 29,679 shares at $0.00 (award), i.e., an equity award rather than a cash purchase or sale.
• The filing notes these time-based RSUs represent 40% of her 2026 long-term incentive award; the remaining 60% was granted as performance-based RSUs whose payout (if any) will be determined in early 2029.

Key Details

• Transaction date and type: 2026-03-05 — Award/Grant (code A).
• Reported price: $0.00 per unit (standard for RSU grants); total reported acquisition value = $0.
• Vesting schedule (footnote): 33% vests March 5, 2027; 33% vests March 5, 2028; 34% vests March 5, 2029.
• Performance portion: 60% of the award is performance-based; number of units earned (if any) to be determined based on 2026–2028 performance and reported in early 2029.
• Shares owned after the transaction: not provided in the supplied filing details.
• Filing timeliness: Form 4 filed 2026-03-09 for a 2026-03-05 grant — filed within the required two business days (not late).

Context

• RSU grants are a form of compensation, not an open-market purchase or sale; they are routine for executives and meant to align pay with future performance and retention.
• The performance-based component means a portion of the award may never be settled if performance targets are not met; the time-based RSUs will vest per the schedule above.