---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-130532"
form_type: "8-K"
ticker: "USB"
cik: "0000036104"
company_name: "US BANCORP DE"
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T23:26:35.244716+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# U.S. Bancorp promotes Gunjan Kedia to President, overseeing all revenue lines

## Summary
- Kedia, 53, previously Vice Chair of Wealth, Corporate, Commercial & Institutional Banking, now President effective May 3, 2024.
- She will report to CEO Andy Cecere, who retains chairman and CEO roles; Kedia oversees three business lines.
- Base salary increased to $1,000,000 annually; annual cash incentive target set at 250% of base salary.
- Long-term incentive award of $1,500,000 granted May 6, 2024 (60% performance-based RSUs, 40% RSUs).
- Kedia has nearly 30 years in financial services, including BNY Mellon, State Street, PwC, McKinsey.

## SEC filing metadata
- accession: 0001193125-24-130532
- form_type: 8-K
- ticker: USB
- cik: 0000036104
- company_name: US BANCORP DE
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36104/000119312524130532/0001193125-24-130532-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36104/000119312524130532/d830658d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-130532
- JSON: https://secwatch.observer/filing/0001193125-24-130532.json
- Plain text: https://secwatch.observer/filing/0001193125-24-130532.txt

## Key facts
- Executive change
  Gunjan Kedia changed role as President at US BANCORP DE.
  - Action: promoted
  - Role: President
  source text: On May 3, 2024, U.S. Bancorp announced the promotion of Gunjan Kedia, 53, to the position of President of U.S. Bancorp and U.S. Bank National Association (“U.S. Bank”), its principal banking subsidiary, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000119312524130532/0001193125-24-130532-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.