AI English summary of an SEC filing — figures as filed

The company said it is changing the recordkeeper, trustee and investment fund options for the U.S. Bank 401(k) Savings Plan, and that as a result there will be a blackout period expected to begin on December 24, 2024 and end during the week of January 12, 2025.

8-KTemporary Suspension of Trading Under Registrant's Employee Benefit PlansFiled Oct 15, 2024Period of report Oct 15, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

The company said it is changing the recordkeeper, trustee and investment fund options for the U.S. Bank 401(k) Savings Plan, and that as a result there will be a blackout period expected to begin on December 24, 2024 and end during the week of January 12, 2025.
The company said that during the blackout period, 401(k) Plan participants will be unable to transfer assets from most funds to other funds, obtain or pay off loans, or take distributions (including hardship distributions), and will be unable to direct or diversify investments in the U.S. Bancorp stock fund.
The company said executive officers and directors are barred from buying, selling or otherwise acquiring or transferring company common stock during the blackout period, including exercising stock options. The restriction also applies to immediate family members sharing their household and to trusts and entities they control, and does not cover qualified Rule 10b5-1 trading plan transactions, bona fide gifts, or transfers under a domestic relations order.
The company warned that executive officers and directors who violate the rules may have to disgorge profits from the transaction and may face civil and criminal penalties. It said stockholders and other interested parties may contact its Corporate Secretary for the start and end dates of the blackout period, free of charge, for 2 years after it ends.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

401(k) Plan Changes and Blackout Period

The company said it is changing the recordkeeper, trustee and investment fund options for the U.S. Bank 401(k) Savings Plan, and that as a result there will be a blackout period expected to begin on December 24, 2024 and end during the week of January 12, 2025.

Source · Based on the filing body and exhibits

Participant Restrictions During Blackout Period

The company said that during the blackout period, 401(k) Plan participants will be unable to transfer assets from most funds to other funds, obtain or pay off loans, or take distributions (including hardship distributions), and will be unable to direct or diversify investments in the U.S. Bancorp stock fund.

Source · Based on the filing body and exhibits

Trading Restrictions and Exceptions for Officers and Directors

The company said executive officers and directors are barred from buying, selling or otherwise acquiring or transferring company common stock during the blackout period, including exercising stock options. The restriction also applies to immediate family members sharing their household and to trusts and entities they control, and does not cover qualified Rule 10b5-1 trading plan transactions, bona fide gifts, or transfers under a domestic relations order.

Source · Based on the filing body and exhibits

Liability for Violations and Contact Information

The company warned that executive officers and directors who violate the rules may have to disgorge profits from the transaction and may face civil and criminal penalties. It said stockholders and other interested parties may contact its Corporate Secretary for the start and end dates of the blackout period, free of charge, for 2 years after it ends.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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