Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 22, 2021, the Board of Directors of U.S. Bancorp (the "Company")
elected Kimberly N. Ellison-Taylor as a director of the Company, effective
immediately. Ms. Ellison-Taylor will serve on the Audit and Public
Responsibility Committees. She will receive compensation in accordance with the
Company's standard compensation arrangements for non-employee directors, which
are described under the heading "Director Compensation" in the Company's
definitive proxy statement on Schedule 14A filed with the Securities and
Exchange Commission on March 10, 2020.
Additionally, on January 22, 2021, Marc N. Casper, a director of U.S. Bancorp,
notified the Company that he does not intend to stand for re-election to the
Company's Board of Directors following expiration of his current term at the
Company's 2021 Annual Meeting of Shareholders. Mr. Casper's decision not to
stand for re-election was for personal reasons and not due to any disagreement
with the company on any matter relating to the company's operations, policies or
practices.
A copy of the press release issued by the Company on January 27, 2021,
announcing Ms. Ellison-Taylor's election to the Board of Directors is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release dated January 27, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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