U.S. Bancorp has adopted a new Executive Change in Control Severance Plan for its executive officers and certain other officers. Under the plan, participants who experience an involuntary termination without cause or resign for good reason within 24 months following a change in control will receive a lump-sum cash payment. This payment includes two times the participant's annual base salary, two times their target annual incentive award, a pro-rata portion of the target annual incentive award for the year of termination, and an amount equal to six months of employer-paid health plan coverage. Receipt of these benefits is contingent on signing a participation agreement and general release, as well as adhering to confidentiality, non-solicitation, and non-competition covenants.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. U.S. Bancorp published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-029382), on January 29, 2026, and is solely responsible for the information contained therein.