secwatch.observer — SEC 8-K summary
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Issuer:     US BANCORP DE (USB)
CIK:        0000036104
Form:       8-K
Filed at:   2023-08-23T23:59:59+00:00
Accession:  0001193125-23-218674
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

U.S. Bancorp names Dolan CAO, Stern CFO; von Gillern retires Sept 1, Venkatachari executive officer
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- Jeffry H. von Gillern resigns as Vice Chair, Technology and Operations Services effective Sept 1, 2023; remains advisor to CEO through Dec 31, 2023.
- Terrance R. Dolan appointed Vice Chair and Chief Administration Officer effective Sept 1, 2023, ceasing as CFO on that date.
- John C. Stern promoted to Senior Executive Vice President and CFO, reporting to Dolan; base salary $700,000, target cash incentive 180% of base, long-term equity target $2.5M.
- Dilip Venkatachari (CIO) becomes executive officer reporting directly to CEO effective Sept 1, 2023, assuming von Gillern's day-to-day responsibilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36104/000119312523218674/0001193125-23-218674-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36104/000119312523218674/d492507d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-218674

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer