U.S. Bancorp adopts executive change in control severance plan covering executive officers
On January 27, 2026, U.S. Bancorp's board adopted the U.S. Bank Executive Change in Control Severance Plan, covering executive officers and certain other officers, including its named executive officers. The plan provides lump-sum severance if a participant is involuntarily terminated without Cause or resigns for Good Reason within 24 months after a Change in Control. The filing does not give a dollar cost for the plan.
Key points
- Adopted by the board on January 27, 2026, on the recommendation of the Compensation and Human Resources Committee
- Severance equals two times annual base salary plus two times target annual incentive, a pro-rata target incentive, and six months of employer health plan cost
- Benefits require a release of claims, confidentiality and non-solicitation agreements, and a non-compete where permitted by law
- The plan is filed as Exhibit 10.1
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 29, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.