USB CEO Gunjan Kedia Exercises Options, Sells 27,267 Shares

What Happened

• Gunjan Kedia, President & CEO and a director of U.S. Bancorp (USB), exercised stock options to acquire 27,267 shares at an exercise price of $55.01 per share (cost $1,499,958) on 2026-08-28 and then sold those 27,267 shares in the open market at a weighted average price of about $62.37 per share for $1,700,670. The transactions imply a pre-tax spread of roughly $200,712 (sale proceeds minus exercise cost). The filing shows the derivative (option) conversion as part of the same sequence.

Key Details

• Transaction date: 2026-08-28
• Exercise: 27,267 shares @ $55.01 — cost $1,499,958 (transaction code M)
• Sale: 27,267 shares @ weighted avg ~$62.37 — proceeds $1,700,670 (transaction code S)
• Implied pre-tax difference: ~ $200,712
• Shares owned after transaction: not specified in the filing
• Footnotes: F1 — sale price is a weighted average; actual prices ranged $62.37–62.381. F2 — the options vested in four equal annual installments beginning Feb 16, 2018.
• Filing timeliness: filing date 2026-08-31 for an 08-28 transaction; the filing itself does not indicate a late-report code in the provided data.

Context

• This was an option exercise followed by an immediate sale (a typical "same-day sale" or cashless exercise pattern): the option was exercised to acquire shares and the shares were sold the same day, converting the option spread into cash. Such transactions commonly reflect routine option exercises and tax/liquidity actions rather than a directional bet on the stock.