Jan 27, 2026: U.S.
Filed with the SEC on · Summarized by InvestorsBot
Jan 27, 2026: U.S. Bancorp Board adopted a Change‑in‑Control severance plan for execs (incl. named officers). Triggers: involuntary termination without Cause or Good Reason within 24 months after a Change in Control. 🔔 $USB #USB #ExecutiveComp #M&A
Severance payout = lump‑sum of 2x annual base salary + 2x target annual incentive + pro‑rata target incentive for the performance year + employer cost of 6 months’ health coverage. Payable on qualifying termination. 💵 $USB #USB #ExecutiveComp
Payouts require signed participation agreement, executed general release, confidentiality/non‑solicit and (where legal) non‑compete; participants generally can’t double‑dip with other company severance plans. May increase C‑in‑C acquisition costs. 🔒 $USB #USB #M&A