HERNANDEZ ROLAND A 4

What Happened
Roland A. Hernandez, a director of US Bancorp (USB), received awards totaling 7,240 shares on April 23, 2026. The filing shows two derivative awards: 3,885 shares valued at $56.63 each (total value $220,008) and 3,355 units recorded at $0.00. These were awards/grants (code A), not open-market purchases or sales.

Key Details

• Transaction date: 2026-04-23; filing date: 2026-04-27 (filed within the two-business-day window).
• Grant 1: 3,885 shares @ $56.63 = $220,008 (derivative award).
• Grant 2: 3,355 units @ $0.00 = $0 (derivative award).
• Total credited: 7,240 shares/units.
• Shares owned after transaction: not specified in the Form 4 filing.
• Relevant footnotes from the filing:
  • F1: Deferred Compensation Plan participation — payable in common stock when the director ceases Board service.
  • F2: Includes amounts acquired via dividend reinvestment.
  • F3: Restricted stock units convert one-for-one into common stock.
  • F4: The RSUs were fully vested at grant but are payable only when the holder stops serving on the Board (forfeited if terminated for cause).

Context
These are awards/derivative grants, not cash purchases or immediate sales. Because some units are deferred and payable only upon departure from the Board, they may not be immediately liquid—this is a routine equity compensation event rather than a direct market bet by the insider.