Form 4: U.S. Bancorp Director Kimberly J. Harris Acquires Restricted Stock Units

Director Kimberly J. Harris acquired 4,691 restricted stock units of U.S. Bancorp on April 18, 2024, which will convert to common stock upon her departure from the Board.

Summary

• On April 18, 2024, Kimberly J. Harris, a director of U.S. Bancorp, acquired 4,691 restricted stock units (RSUs).
• These RSUs convert into common stock on a one-for-one basis.
• The RSUs were fully vested at the time of grant.
• The units are payable in common stock when Ms. Harris ceases to serve on the Board of Directors and is not providing services to the Company as an independent contractor.
• All units are forfeited if the holder's service is terminated for cause.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's increased stake in the company, aligning interests with shareholders.

Positives

• The acquisition of restricted stock units by a director signals confidence in the company's future performance.

Future Outlook

The restricted stock units will convert to common stock when the reporting person ceases to serve on the Board of Directors and is not providing services to the Company as an independent contractor, except that all units are forfeited if the holder's service is terminated for cause.

Industry Context

Acquisition of restricted stock units by company directors is a common practice to align their interests with those of shareholders and incentivize long-term value creation.

Stakeholder Impact

• The acquisition of restricted stock units by a director can positively influence shareholder confidence.

Key Dates