US Bank 2004 Annual Report Download - page 118
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Please find page 118 of the 2004 US Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.examination by the FDIC. In practice, the primary federal freestanding operations centers in St. Paul, Portland,
regulator makes regular examinations of each subsidiary Milwaukee and Denver. The Company owns six principal
bank subject to its regulatory review or participates in joint operations centers in Cincinnati, St. Louis, Fargo,
examinations with other federal regulators. Areas subject to Milwaukee and St. Paul. At December 31, 2004, the
regulation by federal authorities include the allowance for Company’s subsidiaries owned and operated a total of
credit losses, investments, loans, mergers, issuance of 1,484 facilities and leased an additional 1,462 facilities, all
securities, payment of dividends, establishment of branches of which are well maintained. The Company believes its
and other aspects of operations. current facilities are adequate to meet its needs. Additional
information with respect to premises and equipment is
Properties U.S. Bancorp and its significant subsidiaries presented in Notes 11 and 24 of the Notes to Consolidated
occupy headquarter offices under a long-term lease in Financial Statements.
Minneapolis, Minnesota. The Company also leases eight
Equity Compensation Plan Information The following table summarizes information regarding equity compensation plans in
effect as of December 31, 2004.
Number of securities remaining
Number of securities to be issued Weighted-average exercise available for future issuance under
upon exercise of outstanding options, price of outstanding options, equity compensation plans (excluding
Plan Category warrants and rights warrants and rights securities reflected in the first column) (a)
Equity compensation plans approved by
security holders (b) ****************** 83,464,408 $21.83 35,154,782
Equity compensation plans not approved
by security holders (c)(d)************** 11,777,683 $22.62 —
Total *************************** 95,242,091 $21.90 35,154,782
(a) No shares are available for the granting of future awards under the U.S. Bancorp 1998 Executive Stock Incentive Plan or the U.S. Bancorp 1991 Executive Stock Incentive plan. The
35,154,782 shares available under the U.S. Bancorp 2001 Stock Incentive Plan may become the subject of future awards in the form of stock options, stock appreciation rights, restricted
stock, restricted stock units, performance awards or other stock-based awards, except that only 7,476,383 of these shares are available for future grants of awards other than stock
options or stock appreciation rights.
(b) Includes shares underlying stock options and restricted stock units (convertible into shares of the Company’s common stock on a one-for-one basis) under the U.S. Bancorp 2001 Stock
Incentive Plan, the U.S. Bancorp 1998 Executive Stock Incentive Plan and the U.S. Bancorp 1991 Executive Stock Incentive Plan. Excludes 43,728,386 shares underlying outstanding stock
options and warrants assumed by U.S. Bancorp in connection with acquisitions by U.S. Bancorp. Of the excluded shares, 39,283,290 underlie stock options granted under equity
compensation plans of the former U.S. Bancorp that were approved by the shareholders of the former U.S. Bancorp.
(c) Includes 3,585,410 shares of common stock issuable pursuant to the U.S. Bancorp Deferred Compensation Plan. All of the remaining identified shares underlie stock options granted to a
broad-based employee population pursuant to the U.S. Bancorp 2001 Employee Stock Incentive plan, the Firstar Corporation 1999 Employee Stock Incentive Plan, the Firstar Corporation
1998 Employee Stock Incentive Plan and the Star Banc Corporation 1996 Starshare Stock Incentive Plan for Employees.
(d) The weighted-average exercise price does not include any assumed price at issuance of shares that may be issuable pursuant to the Deferred Compensation Plan.
The U.S. Bancorp Deferred Compensation Plan allows stock incentive plans or in U.S. Bancorp Piper Jaffray Inc.’s
non-employee directors and members of our senior annual option plan. As of December 31, 2004, options to
management, including all of our executive officers, to defer purchase an aggregate of 4,506,987 shares were outstanding
all or part of their compensation until retirement or earlier under the plan. All options under the plan were granted on
termination of employment. The deferred compensation is February 27, 2001.
deemed to be invested in one of several investment As of December 31, 2004, options to purchase an
alternatives at the option of the participant, including shares aggregate of 1,355,214 shares of the Company’s common
of U.S. Bancorp common stock. Deferred compensation stock were outstanding under the Firstar Corporation 1999
deemed to be invested in U.S. Bancorp stock may be Employee Stock Incentive Plan (‘‘1999 Plan’’). Under this
received at the time of distribution at the election of the plan, stock options were granted to each full-time or part-
participant, in the form of shares of U.S. Bancorp common time employee actively employed by Firstar Corporation on
stock. The 3,585,410 shares included in the table assumes the grant date, other than managers who participated in an
that participants in the plan whose deferred compensation executive stock incentive plan.
had been deemed to be invested in U.S. Bancorp common As of December 31, 2004, options to purchase an
stock had elected to receive all of that deferred aggregate of 2,041,696 shares of the Company’s common
compensation in shares of U.S. Bancorp common stock on stock were outstanding under the Firstar Corporation 1998
December 31, 2004. Employee Stock Incentive Plan (‘‘1998 Plan’’). Under this
Under the U.S. Bancorp 2001 Employee Stock Incentive plan, stock options were granted to each full-time or part-
Plan (‘‘2001 Plan’’), 11,678,800 shares are authorized for time employee actively employed by Firstar Corporation on
issuance pursuant to the grant of nonqualified stock options the grant date, other than managers who participated in an
to any full-time or part-time employee actively employed by executive stock incentive plan.
U.S. Bancorp on the grant date, other than individuals As of December 31, 2004, options to purchase an
eligible to participate in any of the Company’s executive aggregate of 288,376 shares of the Company’s common
116 U.S. BANCORP