US BancORP Director Changes & Officer Appointments
Ticker: USB-PQ · Form: 8-K · Filed: Jul 16, 2024 · CIK: 36104
Sentiment: neutral
Topics: governance, debt-issuance, officer-appointment
Related Tickers: USB
TL;DR
USB board shakeup and new execs, plus debt notes filed.
AI Summary
U.S. Bancorp (USB) filed an 8-K on July 16, 2024, to report the departure of a director and the election of a new director. Additionally, the filing details the appointment of new officers and updates to compensatory arrangements. The company also disclosed information regarding its 4.009% Fixed-to-Floating Rate Notes, Series CC, due May 21, 2032.
Why It Matters
Changes in board composition and executive leadership can signal shifts in company strategy or governance, while debt issuance details are crucial for understanding the company's financial structure.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance changes and debt instrument disclosures, which typically carry low immediate risk.
Key Numbers
- 4.009% — Interest Rate (Series CC Notes)
- 2032 — Maturity Year (Series CC Notes)
Key Players & Entities
- US BANCORP \DE\ (company) — Filer
- 0000036104 (company) — Central Index Key
- 4.009% Fixed-to-Floating Rate Notes, Series CC (dollar_amount) — Debt Instrument
- May 21, 2032 (date) — Debt Maturity Date
FAQ
Who is the departing director and who is the newly elected director?
The filing does not specify the names of the departing or newly elected directors, only that these events occurred.
What are the specific compensatory arrangements being updated?
The filing indicates updates to compensatory arrangements of certain officers but does not detail the specific changes within this 8-K.
What is the principal amount of the 4.009% Fixed-to-Floating Rate Notes, Series CC?
The principal amount of the notes is not specified in this filing.
What is the purpose of the 4.009% Fixed-to-Floating Rate Notes, Series CC?
The filing does not explicitly state the purpose for the issuance of these notes.
When did the company formerly known as FIRST BANK SYSTEM INC change its name?
The company formerly known as FIRST BANK SYSTEM INC changed its name on July 3, 1992.
Filing Stats: 692 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2024-07-16 17:00:57
Key Financial Figures
- $1.00 — ve Perpetual Preferred Stock, par value $1.00) USB PrA New York Stock Exchange
Filing Documents
- d868659d8k.htm (8-K) — 38KB
- d868659dex991.htm (EX-99.1) — 5KB
- g868659g0712222723773.jpg (GRAPHIC) — 5KB
- g868659g0712222723953.jpg (GRAPHIC) — 3KB
- g868659g0712222724148.jpg (GRAPHIC) — 4KB
- 0001193125-24-179705.txt ( ) — 257KB
- usb-20240716.xsd (EX-101.SCH) — 4KB
- usb-20240716_def.xml (EX-101.DEF) — 16KB
- usb-20240716_lab.xml (EX-101.LAB) — 27KB
- usb-20240716_pre.xml (EX-101.PRE) — 17KB
- d868659d8k_htm.xml (XML) — 15KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 99.1 Press release dated July 16, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. U.S. BANCORP By: /s/ James L. Chosy James L. Chosy Senior Executive Vice President and General Counsel Date: July 16, 2024 3