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EX-99.1 - EXHIBIT 99.1 - US BANCORP \DE\c99568exv99w1.htm
 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 20, 2010

U.S. BANCORP
(Exact name of registrant as specified in its charter)

         
Delaware   001-06880   41-0255900
(State or other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)
     
800 Nicollet Mall
Minneapolis, Minnesota
  55402
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (651) 466-3000

 
Not Applicable
(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 

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Item 5.02   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 22, 2010, the Board of Directors of U.S. Bancorp (the “Company”) announced that Terrance R. Dolan, 47, the Company’s Executive Vice President and Controller, will succeed Diane L. Thormodsgard as the Company’s Vice Chairman, Wealth Management and Securities Services, and Jeffry H. von Gillern, 44, the Company’s Chief Information Officer, will succeed William L. Chenevich as the Company’s Vice Chairman, Technology and Operations Services. The appointments are effective on July 1, 2010. Ms. Thormodsgard and Mr. Chenevich will retire on June 30, 2010.

A copy of the press release issued by the Company on April 22, 2010, announcing the retirements of Ms. Thormodsgard and Mr. Chenevich and the appointments of Mr. Dolan and Mr. von Gillern as their respective successors is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Additionally, Craig E. Gifford, 41, the Company’s Senior Vice President and Chief Accounting Officer, will succeed Mr. Dolan as the Company’s Controller effective July 1, 2010. Mr. Gifford has served as the Company’s Senior Vice President and Chief Accounting Officer since joining the Company in November 2008. Prior to joining the Company, he served as Guaranty Financial Group Inc.’s Controller from July 2003 until December 2007 and Executive Vice President and Chief Accounting Officer from January 2008 until October 2008.

Item 5.07   Submission of Matters to a Vote of Security Holders

The Company’s 2010 Annual Meeting of Shareholders was held on Tuesday, April 20, 2010, at the Seattle Marriott Waterfront, Seattle, Washington. Richard K. Davis, Chairman, President and Chief Executive Officer, presided. The Company’s shareholders approved each of the four proposals detailed in the Company’s Definitive Proxy Statement on Schedule 14A which was filed with the Securities and Exchange Commission on March 12, 2010.

Proposal I

The Company’s shareholders elected thirteen individuals to the Board of Directors as set forth below:

                                 
            Votes             Broker  
Name   Votes For     Against     Abstentions     Non-Votes  
Douglas M. Baker, Jr.
    1,296,129,541       72,451,535       9,441,607       206,218,150  
Y. Marc Belton
    1,343,251,423       25,541,240       9,230,020       206,218,150  
Victoria Buyniski Gluckman
    1,279,649,953       89,217,651       9,155,079       206,218,150  
Arthur D. Collins, Jr.
    1,328,344,025       40,515,359       9,163,299       206,218,150  
Richard K. Davis
    1,333,326,332       35,285,552       9,410,799       206,218,150  
Joel W. Johnson
    1,339,529,922       30,431,959       8,060,802       206,218,150  
Olivia F. Kirtley
    1,339,849,325       29,409,116       8,764,242       206,218,150  
Jerry W. Levin
    1,317,062,598       51,865,483       9,094,602       206,218,150  
David B. O’Maley
    1,261,904,415       65,741,221       50,377,047       206,218,150  
O’dell M. Owens, M.D., MPH
    1,247,793,378       80,015,771       50,213,534       206,218,150  
Richard G. Reiten
    1,283,250,983       44,532,108       50,239,592       206,218,150  
Craig D. Schnuck
    1,314,771,486       13,170,211       50,080,986       206,218,150  
Patrick T. Stokes
    1,287,524,303       40,579,736       49,918,644       206,218,150  

 

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Proposal II

The Company’s shareholders ratified the selection of Ernst & Young LLP as the independent auditor of the Company and its subsidiaries for the fiscal year ending December 31, 2010, as set forth below:

                     
Votes For   Votes Against     Abstentions     Broker Non-Votes
1,547,294,944   31,073,655     5,872,234    

Proposal III

The Company’s shareholders approved the U.S. Bancorp Amended and Restated 2007 Stock Incentive Plan as set forth below:

                     
Votes For   Votes Against     Abstentions     Broker Non-Votes
1,195,753,166   129,448,247     52,821,270     206,218,150

Proposal IV

The Company’s shareholders gave advisory approval of the Company’s executive compensation program as set forth below:

                     
Votes For   Votes Against     Abstentions     Broker Non-Votes
1,398,253,845   147,782,516     38,204,472    

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits.

      99.1   Press release issued by the Company on April 22, 2010

 

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SIGNATURE

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/ Lee R. Mitau
 
      Lee R. Mitau
Executive Vice President, General Counsel and Corporate Secretary

Date: April 22, 2010

 

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EXHIBIT INDEX

     
Exhibit    
Number   Description
99.1
  Press release issued by the Company on April 22, 2010

 

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