US Bancorp (USB) Senior EVP James Chosy Exercises Options, Sells Shares

What Happened

• James L. Chosy, Senior EVP and General Counsel of US Bancorp (USB), exercised 24,711 stock options on 2026-07-23, paying $55.01 per share (total cost ≈ $1,359,352). He sold 22,968 shares in an open-market transaction the same day at $63.28 per share, generating proceeds of ≈ $1,453,415. The filing also reports the corresponding derivative instrument disposition at $0 (standard reporting when options are converted/exercised).

Key Details

• Transaction dates and prices:
  • 2026-07-23: Exercised 24,711 options @ $55.01 (acquired shares; ≈ $1,359,352).
  • 2026-07-23: Sold 22,968 shares @ $63.28 (open market; ≈ $1,453,415).
  • 2026-07-23: Reported disposition of derivative instrument for 24,711 units @ $0 (reporting artifact for exercise).
• Shares owned after transaction: Not specified in the reported data.
• Footnote: F1 — The options vested in four equal installments beginning on February 16, 2018.
• Filing timeliness: Report filed 2026-07-24 for a 2026-07-23 transaction (filed promptly within the Form 4 reporting window).

Context

• This is an options exercise combined with an immediate (same-day) sale of most of the acquired shares — effectively a cashless exercise/quick sale pattern often seen when executives exercise vested options and sell shares to cover costs or diversify. The separate $0 derivative disposition line is a typical Form 4 entry showing conversion/retirement of the option instrument and does not by itself indicate additional value exchanged.
• The activity is factual insider trading data and does not explain the insider’s motivations.