Gillani Aleem 4

What Happened

• Gillani Aleem, a director of US Bancorp (USB), received a grant of 3,355 restricted stock units (RSUs) on 2026-04-23. The RSUs are recorded at $0.00 at grant (no cash exchanged) and are derivative awards that convert one-for-one into common stock per the filing.
• The filing notes the units were fully vested at grant, but payout in common stock is deferred until the reporting person ceases Board service and is not providing services as an independent contractor. Units are forfeited if the holder’s service is terminated for cause. This is an award/grant (not a purchase or sale).

Key Details

• Transaction date: 2026-04-23; Form 4 filed: 2026-04-27.
• Instrument: 3,355 Restricted Stock Units (RSUs); grant price listed as $0.00; immediate cash value at grant: $0 (represents potential 3,355 shares upon conversion).
• Shares owned after transaction: not specified on the Form 4.
• Notable footnotes: (1) RSUs convert into common stock on a one-for-one basis. (2) Units were fully vested at grant but are payable only upon cessation of Board service; forfeited for cause.
• No 10b5-1 plan, sale, or tax-withholding transaction reported in this filing.

Context

• RSU grants are common director compensation and do not indicate an immediate buy or sell by the insider. Although vested, these units are deferred and only convert to shares under the conditions described, so there was no immediate change in tradable common shares held by the director.