US Bancorp Suspends Trading in Benefit Plans
Ticker: USB-PQ · Form: 8-K · Filed: Oct 15, 2024 · CIK: 36104
Sentiment: neutral
Topics: trading-suspension, employee-benefits, preferred-stock, debt-securities
Related Tickers: USB
TL;DR
USB suspended trading in employee benefit plans, affecting preferred stock and senior notes.
AI Summary
U.S. Bancorp (USB) filed an 8-K on October 15, 2024, to report the temporary suspension of trading under its employee benefit plans. This action affects various classes of preferred stock and senior floating rate notes, including Series A, B, K, L, M, O, CC Senior Floating, and CC Senior Fixed-to-Floating. The filing does not specify the exact reason for the suspension but indicates it is a temporary measure.
Why It Matters
This filing indicates a temporary halt in trading for employee benefit plans, which could impact employee access to or transactions involving company stock and debt instruments.
Risk Assessment
Risk Level: low — The filing is procedural and reports a temporary suspension of trading under benefit plans, not a material adverse event.
Key Players & Entities
- US BANCORP \DE\ (company) — Filer
- 0000036104 (company) — Central Index Key
- 2024-10-15 (date) — Filing Date
- Series A Preferred Stock (security) — Affected Benefit Plan Component
- Series B Preferred Stock (security) — Affected Benefit Plan Component
- Series K Preferred Stock (security) — Affected Benefit Plan Component
- Series L Preferred Stock (security) — Affected Benefit Plan Component
- Series M Preferred Stock (security) — Affected Benefit Plan Component
- Series O Preferred Stock (security) — Affected Benefit Plan Component
- Series CC Senior Floating (security) — Affected Benefit Plan Component
FAQ
What specific employee benefit plans are affected by this trading suspension?
The filing lists several classes of preferred stock and senior floating rate notes, including Series A, B, K, L, M, O Preferred Stock, and Series CC Senior Floating and CC Senior Fixed-to-Floating notes, as being subject to the temporary suspension of trading under the registrant's employee benefit plans.
When did the temporary suspension of trading under U.S. Bancorp's employee benefit plans take effect?
The filing was made on October 15, 2024, and the information pertains to the period of report as of October 15, 2024, indicating the suspension is effective around this date.
Does the filing specify the reason for the temporary suspension of trading?
No, the filing states that trading is temporarily suspended under the registrant's employee benefit plans but does not provide a specific reason for this action.
What is the Central Index Key (CIK) for U.S. Bancorp?
The Central Index Key for U.S. Bancorp is 0000036104.
What is the SIC code for U.S. Bancorp?
The Standard Industrial Classification (SIC) code for U.S. Bancorp is 6021, which corresponds to National Commercial Banks.
Filing Stats: 822 words · 3 min read · ~3 pages · Grade level 11 · Accepted 2024-10-15 16:15:33
Key Financial Figures
- $1.00 — ve Perpetual Preferred Stock, par value $1.00) USB PrA New York Stock Exchange
Filing Documents
- d883200d8k.htm (8-K) — 39KB
- d883200dex991.htm (EX-99.1) — 4KB
- 0001193125-24-237594.txt ( ) — 240KB
- usb-20241015.xsd (EX-101.SCH) — 4KB
- usb-20241015_def.xml (EX-101.DEF) — 16KB
- usb-20241015_lab.xml (EX-101.LAB) — 27KB
- usb-20241015_pre.xml (EX-101.PRE) — 17KB
- d883200d8k_htm.xml (XML) — 14KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 99.1 Notice of Blackout Period to Executive Officers and Directors of U.S. Bancorp dated October 15, 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: October 15, 2024 3