Form 4: U.S. Bancorp Director Andrew Cecere Reports Changes in Beneficial Ownership

Andrew Cecere, a director, Chairman, President, and CEO of U.S. Bancorp, reported the disposal of common stock to cover tax obligations.

Summary

• On March 2, 2024, Andrew Cecere disposed of 12,944 shares of U.S. Bancorp common stock at a price of $41.42 per share to cover tax obligations.
• On March 3, 2024, Cecere disposed of 10,139 shares of U.S. Bancorp common stock at a price of $41.42 per share to cover tax obligations.
• Following these transactions, Cecere directly owns 1,306,764 shares of U.S. Bancorp common stock.
• Cecere also indirectly owns 13,890 shares through a 401(k) plan and 341 shares through a spouse, based on a plan report dated February 29, 2024.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders, such as directors and officers, trade their company's stock. These filings provide transparency into the transactions of those with access to non-public information.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for all publicly traded companies in the United States.
• The information provided in this filing is consistent with the level of detail typically disclosed in similar filings by executives at other financial institutions such as JP Morgan Chase, Citigroup, and Bank of America.
• The disposal of shares to cover tax obligations is a common practice among corporate executives.

Stakeholder Impact

• The disposal of shares by a director could be perceived negatively by some shareholders, but the stated reason (to cover tax obligations) is generally considered normal.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely minimal.

Key Dates