SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
DOYLE MICHAEL J
(Last) (First) (Middle)
U.S. BANCORP
800 NICOLLET MALL
(Street)
MINNEAPOLIS MN 55402
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
US BANCORP \DE\ [ USB ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Chief Credit Officer
3. Date of Earliest Transaction (Month/Day/Year)
10/28/2003
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $0.01 par value 10/28/2003 M 3,000 A $18.9167 18,202.64(1) D
Common Stock, $0.01 par value 10/28/2003 S 3,000 D $26.89 15,202.64 D
Common Stock, $0.01 par value 10/28/2003 M 3,000 A $18.9167 18,202.64 D
Common Stock, $0.01 par value 10/28/2003 S 3,000 D $27.1 15,202.64 D
Common Stock, $0.01 par value 1,202.18(2) I 401(k) plan
Common Stock, $0.01 par value 1,500 I IRA
Common Stock, $0.01 par value 500 I Spouse IRA
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Deferred Compensation Plan Participation (3) (4) (4) Common Stock 2,908.28(5) 2,908.28 D
Employee Stock Option (Right to Buy) $18.9167 10/28/2003 M 3,000 (6) 12/07/2007 Common Stock 7,000 $0 4,000 D
Employee Stock Option (Right to Buy) $18.9167 10/28/2003 M 3,000 (6) 12/07/2007 Common Stock 4,000 $0 1,000 D
Employee Stock Option (Right to Buy) $21.64 (7) 12/17/2012 Common Stock 33,000 33,000 D
Employee Stock Option (Right to Buy) $23.85 (8) 06/18/2012 Common Stock 100,000 100,000 D
Employee Stock Option (Right to Buy) $19.23 (9) 12/18/2011 Common Stock 55,000 55,000 D
Employee Stock Option (Right to Buy) $21.6875 (10) 12/12/2010 Common Stock 50,000 50,000 D
Employee Stock Option (Right to Buy) $21.375 (11) 12/14/2009 Common Stock 25,000 25,000 D
Employee Stock Option (Right to Buy) $23.7917 (12) 11/20/2008 Common Stock 21,000 21,000 D
Explanation of Responses:
1. Includes shares acquired in April, July and October pursuant to the U.S. Bancorp Dividend Reinvestment Plan in transactions exempt under Rule 16a-11.
2. Based on a plan report dated 9/30/03, the most recent plan report available.
3. Deferred Compensation Plan Participation converts into common stock on a one-for-one basis.
4. Deferred Compensation Plan Participation is payable in common stock following termination of the reporting person's employment with U.S. Bancorp, or age 55, whichever is later.
5. Includes additional amounts acquired in April, July and October pursuant to a dividend reinvestment feature of the U.S. Bancorp Deferred Compensation Plan.
6. The option vested in four equal annual installments beginning on December 9, 1998.
7. The option vests 100% on December 17, 2007, or 25% on December 17th of each of 2003, 2004, 2005 and 2006 if certain performance criteria are met in those years.
8. The option vests in four equal annual installments beginning on June 18, 2003.
9. The option vests in four equal annual installments beginning on December 18, 2002.
10. The option vests in four equal annual installments beginning on December 12, 2001.
11. The option vests in four equal annual installments beginning on December 14, 2000.
12. The option vested in four equal annual installments beginning on November 20, 1999.
Remarks:
Lee R. Mitau for Michael J. Doyle 10/30/2003
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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