U.S. Bancorp adopts Executive Change in Control Severance Plan effective Jan 27, 2026

US BANCORP DE

Plan provides lump-sum severance of 2x base salary plus 2x target annual incentive for executives upon qualifying termination within 24 months after a change in control.
Covered participants include executive officers and other officers designated by CEO or Committee.
Participation requires signing a participation agreement, release, and compliance with confidentiality, non-solicitation, and non-compete covenants.
Plan is effective January 27, 2026 and replaces prior change in control benefits for covered executives.

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