secwatch.observer — SEC 8-K summary
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Issuer:     US BANCORP DE (USB)
CIK:        0000036104
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001193125-24-130532
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36104/000119312524130532/0001193125-24-130532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36104/000119312524130532/d830658d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-130532

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