secwatch.observer — SEC 8-K summary
======================================

Issuer:     US BANCORP DE (USB)
CIK:        0000036104
Form:       8-K
Filed at:   2025-04-16T23:59:59+00:00
Accession:  0001193125-25-082814
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

US Bancorp sets CEO Kedia compensation; Cecere Executive Chairman terms approved
--------------------------------------------------------------------------------

- CEO Gunjan Kedia base salary $1.2M, target annual cash incentive 275% of base, effective Apr 16.
- Additional PRSU award of $1.5M granted to Kedia under 2024 Stock Incentive Plan.
- Executive Chairman Andrew Cecere base salary $1.4M; supplemental retirement benefit frozen as of Apr 15, 2025.
- Amendment to Non-Qualified Retirement Plan locks actuarial assumptions for Cecere's lump-sum calculation.
- Compensation effective following Apr 15 annual shareholders' meeting and board meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36104/000119312525082814/0001193125-25-082814-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36104/000119312525082814/d853666d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-082814

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