Sundar PichaiSundar Pichai earned $164M in 2023

Andrew Cecere is the CEO of U.S. Bancorp, a job he took on in April 2017 after serving as President and Chief Operating Officer. His journey at U.S. Bancorp started way back in 2001, and he's climbed the ranks through...

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Andrew Cecere

Ex-CEO of U.S. Bancorp

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1954 - 71 years ago

CEO of U.S. Bancorp for

7 years 11 months (Apr 2017 - Apr 2025)

Previous Experience

President and Chief Operating Officer

Holdings

See how much did Andrew Cecere make over time.

Andrew Cecere's holdings in U.S. Bancorp have shown significant growth throughout his career. By 2023, his vested stocks were valued at approximately $8.8 million and his stock options were exercisable at $55.01. In earlier years, his wealth was closely tied...

Total Stock Sold

$139.07M

USB

$139.07M

3,085,910 USB shares

What if they kept their stock?

If Andrew Cecere didn't sell their stock, today they would have:
Extra USB3,085,910 shares worth $119.67M.
This is -13.95% and $19.40M less than what they got when they sold the stock.

Charitable Transactions

USB

13,450 shares

USB

Recent Charitable Transactions

USB

7,250 shares

USB

Jan 25, 2016

Charity

USB

6,200 shares

USB

Jan 22, 2015

Charity

Insider Trading

See recent insider trades of Andrew Cecere.

USB

134,896 shares

USB

Feb 11, 2025

Received

USB

$4.82M

USB at $47.25/share

Feb 4, 2025

Sale

USB

104,862 shares

USB

Feb 29, 2024

Received

USB

143,553 shares

USB

Feb 21, 2024

Received

USB

$3.86M

USB at $41.35/share

Feb 15, 2024

Sale

USB

90,693 shares

USB

Mar 2, 2023

Received

USB

112,473 shares

USB

Feb 9, 2023

Received

USB

$3.70M

USB at $43.51/share

Dec 12, 2022

Sale

USB

71,035 shares

USB

Mar 3, 2022

Received

USB

109,412 shares

USB

Feb 10, 2022

Received

Compensation History

See how much did Andrew Cecere make over time.

Andrew Cecere's total compensation in 2023 was over $22 million. This figure includes a $1.35 million base salary, which is quite substantial. However, most of his earnings came from performance bonuses and vested stocks, where he received about $8.8 million worth of shares. His bonuses of approximately $3.8 million are determined based on company metrics like earnings per share and return on equity. This structure links his pay closely with company performance, ensuring his goals align with shareholders' interests. His compensation model shows that U.S. Bancorp rewards not just high-level positions, but also the tangible results that come with leading such a major institution. The way his pay is structured reflects the belief that a CEO should thrive when the company flourishes, and vice versa.

Year

2023

Total Compensation

$13.98M

Salary

$1.35M

Board Justification

U.S. Bancorp's compensation philosophy aims to align executive compensation with company performance, focusing on long-term shareholder value creation. The compensation structure includes a mix of base salary, annual cash incentives, and long-term equity awards, with a significant portion of compensation at risk based on performance metrics.

Bonus

$3.79M

Board Justification

The bonus for 2023 was determined based on a combination of corporate EPS and business line pretax income performance, subject to a qualitative review by the Compensation and Human Resources Committee. The Committee did not make any qualitative adjustments to the formulaic bonus calculation for 2023.

Other

$62.57K

Board Justification

Includes parking reimbursement, matching contribution into 401(k) savings plan, reimbursement of financial planning expenses, home security system expenses, business club dues, and other personal use of company-owned aircraft.

Restricted Stock

$8.78M(181.97K RSU/PRSU)

Board Justification

The vested stock includes RSUs and PRSUs that vested during 2023. The PRSUs were earned at 128.1% of target based on absolute and relative ROE performance during the 2021-2023 performance period.

Performance Metrics

The performance metrics for determining CEO compensation include corporate EPS, business line pretax income, and ROE targets. The metrics are designed to align with the company's strategic goals and shareholder interests.