SEC Form 4 · accession 0001225208-17-003935
US BANCORP \DE\ · USB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Katherine B Quinn
Officer — EVP, Chief Strategy & Rep Of
Period of report
Feb 16, 2017
Accepted (ET)
Feb 21, 2017 · 4:15 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000036104
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F1 | $55.01 | Feb 16, 2017 | A | 23,009 | A | — | Feb 16, 2027 | Common Stock, $0.01 par value | 23,009 | 23,009 | D |
Explanation of responses
- F1The option vests in four equal annual installments beginning on February 16, 2018. This option makes up 25% of the value of the reporting person's 2017 long-term incentive compensation award. The remaining 75% of the award value was granted in the form of performance-based restricted stock units. The number of units that will be earned and eligible to be settled in shares of common stock, subject to the award's time-based vesting conditions, will be determined in early 2018 based on the company's 2017 performance against certain performance targets and will be reported at the time of such determination.