U.S. Bancorp said Gunjan Kedia was appointed President and Chief Executive Officer effective April 15, 2025, and her annualized base salary will increase to $1,200,000 effective April 16, 2025.

1. 01

   U.S. Bancorp said Gunjan Kedia was appointed President and Chief Executive Officer effective April 15, 2025, and her annualized base salary will increase to $1,200,000 effective April 16, 2025.

2. 02

   The company said Kedia is eligible for an annual cash incentive award with a target value of 275% of her base salary. Its board made the decision at its meeting on April 15, 2025, reflecting the additional duties she is assuming in her new role.

3. 03

   U.S. Bancorp said its board and Compensation and Human Resources Committee decided to grant Kedia an additional long-term incentive award of performance-based restricted stock units (PRSUs) valued at $1,500,000 as of the grant date of April 17, 2025.

4. 04

   The company said Andrew Cecere will receive an annualized base salary of $1,400,000 as Executive Chairman effective April 16, 2025. The company also said an amendment to the U.S. Bank Non-Qualified Retirement Plan, effective April 15, 2025, freezes Cecere's supplemental benefit under the plan.

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