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 19, 2011

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

         
Delaware   1-6880   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))

 
 

 

 


 

Item 5.07 Submission of Matters to a Vote of Security Holders.
U.S. Bancorp (the “Company”) held its 2011 Annual Meeting of Shareholders on Tuesday, April 19, 2011, at the Renaissance St. Louis Grand Hotel, St. Louis, Missouri. Richard K. Davis, Chairman, President and Chief Executive Officer, presided. The Company’s shareholders considered five proposals, each of which is described in more detail in the Company’s Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) which was filed with the Securities and Exchange Commission on March 15, 2011. The final voting results are reported below.
Proposal I: Election of thirteen directors to serve for a one-year term until the 2012 annual meeting of shareholders.
The Company’s shareholders elected each of the thirteen nominees for director, and the voting results are set forth below:
                                 
Name   For     Against     Abstentions     Broker Non-Votes  
Douglas M. Baker, Jr.
    1,265,420,207       73,714,066       5,388,298       262,262,118  
Y. Marc Belton
    1,264,638,008       74,514,325       5,370,238       262,262,118  
Victoria Buyniski Gluckman
    1,247,987,432       91,012,597       5,522,542       262,262,118  
Arthur D. Collins, Jr.
    1,298,685,518       37,720,147       8,116,906       262,262,118  
Richard K. Davis
    1,309,689,784       29,991,944       4,840,843       262,262,118  
Joel W. Johnson
    1,311,740,716       27,384,551       5,397,304       262,262,118  
Olivia F. Kirtley
    1,318,492,683       20,711,447       5,318,441       262,262,118  
Jerry W. Levin
    1,289,110,994       49,987,700       5,423,877       262,262,118  
David B. O’Maley
    1,272,979,611       65,894,881       5,648,079       262,262,118  
O’dell M. Owens, M.D., MPH
    1,258,218,573       80,759,624       5,544,374       262,262,118  
Richard G. Reiten
    1,288,791,170       50,409,027       5,322,374       262,262,118  
Craig D. Schnuck
    1,275,418,524       63,220,810       5,883,237       262,262,118  
Patrick T. Stokes
    1,302,087,131       37,192,263       5,243,177       262,262,118  
Proposal II: Ratification of the selection of Ernst & Young LLP as the Company’s independent auditor for the fiscal year ending December 31, 2011.
The Company’s shareholders ratified the selection of Ernst & Young LLP, and the voting results are set forth below:
             
For   Against   Abstentions   Broker Non-Votes
1,566,709,202
  35,708,367   4,367,120  
Proposal III: Advisory vote to approve the compensation of the Company’s executive officers disclosed in the Proxy Statement.
The Company’s shareholders gave advisory approval of the Company’s executive compensation program, and the voting results are set forth below:
             
For   Against   Abstentions   Broker Non-Votes
1,255,795,926   76,460,522   12,266,123   262,262,118

 

 


 

Proposal IV: Advisory vote on the frequency of future advisory votes on executive compensation.
Holders of a majority of the Company’s shares voted at the meeting expressed a preference to hold the advisory vote on executive compensation on an annual basis, and the voting results are set forth below:
                 
1 Year   2 Years   3 Years   Abstentions   Broker Non-Votes
771,339,696   16,403,191   548,608,042   8,171,642   262,262,118
Based on these results, the Company’s Board of Directors has adopted a policy to hold an annual advisory vote on the Company’s executive compensation program.
Proposal V: Shareholder proposal requesting an annual advisory vote on director compensation.
The Company’s shareholders did not approve the shareholder proposal, and the voting results are set forth below:
             
Votes For   Votes Against   Abstentions   Broker Non-Votes
99,613,303
  1,194,088,441   50,820,827   262,262,118

 

 


 

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 20, 2011