Sundar PichaiSundar Pichai earned $164M in 2023

Richard K. Davis has a noteworthy career at U.S. Bancorp, where he served as CEO from 2006 to 2017. He kicked off his journey at the company as President and COO in 2004. Under his leadership, he implemented a pay-for-performance...

Quick Links
U

Richard K. Davis

Ex-CEO of U.S. Bancorp

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

December 1, 1951 - 73 years ago

CEO of U.S. Bancorp for

10 years 4 months (Dec 2006 - Apr 2017)

Previous Experience

Vice Chairman, Commercial and Consumer Banking

Holdings

See how much did Richard K. Davis make over time.

At one point, Richard's holdings were quite significant, particularly in stock options that he exercised in 2017, which were valued at over $15 million. This highlighted how his wealth was deeply tied to the company's performance. Over the years, he...

Loading...

Total Stock Sold

$176.73M

USB

$176.73M

3,966,642 USB shares

What if they kept their stock?

If Richard K. Davis didn't sell their stock, today they would have:
Extra USB3,966,642 shares worth $141.09M.
This is -20.16% and $35.64M less than what they got when they sold the stock.

Charitable Transactions

USB

238,204 shares

USB

Recent Charitable Transactions

USB

8,908 shares

USB

Feb 14, 2017

Charity

USB

17,850 shares

USB

Nov 10, 2016

Charity

USB

8,587 shares

USB

Jan 22, 2015

Charity

USB

73,045 shares

USB

Mar 7, 2013

Charity

USB

3,302 shares

USB

Jan 25, 2013

Charity

USB

56,151 shares

USB

Apr 27, 2012

Charity

Insider Trading

See recent insider trades of Richard K. Davis.

MA

545 shares

MA

Jun 18, 2024

Received

WFC

$144.27K

WFC at $41.22/share

Nov 9, 2023

Purchase

MA

$390.96K

MA at $390.96/share

Nov 9, 2023

Purchase

MA

642 shares

MA

Jun 27, 2023

Received

MA

741 shares

MA

Jun 21, 2022

Received

WFC

100 shares

WFC

Apr 26, 2022

Received

Compensation History

See how much did Richard K. Davis make over time.

In 2017, Richard K. Davis earned a total compensation of over $15 million, which included a base salary of approximately $1.1 million and performance-based bonuses that reflected the company's financial targets. His compensation was tied directly to key performance indicators like earnings per share and return on equity. Throughout his time as CEO, Richard maintained a consistent focus on aligning executive pay with company performance. This philosophy ensured that executives were rewarded only when they achieved real success, which is vital for driving a company's growth. His choice to skip bonuses in years of lower performance, particularly in 2008, further highlights a commitment to responsible management practices. Over the years, his earnings varied significantly, indicating strong leadership in both boom and bust cycles of the business.

Year

2017

Total Compensation

$10.20M

Salary

$1.12M

Board Justification

The compensation philosophy for U.S. Bancorp in 2017 focused on aligning executive compensation with shareholder value creation, emphasizing performance-based incentives, and ensuring competitiveness in the market to attract and retain top talent. The compensation structure was designed to reward executives for achieving corporate and business line goals while maintaining a focus on risk management and long-term value creation.

Bonus

$531.72K

Board Justification

The bonus for Richard K. Davis was calculated based on a prorated Target Award Amount applicable to the portion of 2017 he served as CEO, with no payout for the time he served as Executive Chairman. The bonus funding percentage applied was 84.4%, resulting in a payout of $886,200 for the period he served as CEO.

Other

$0.00

Board Justification

No other compensation was reported for Richard K. Davis in 2017.

Restricted Stock

$8.55M(156.32K Common Stock)

Board Justification

The vested stock for Richard K. Davis in 2017 consisted of 156,323 shares acquired upon vesting, with a value realized of $8,547,034.

Performance Metrics

The performance metrics for determining Richard K. Davis's compensation in 2017 included corporate EPS performance and business line pretax income performance, with adjustments for individual performance and risk sensitivity. The EPS target for 2017 was $3.42, and the actual EPS used for executive awards was $3.05 after adjustments.

Other U.S. Bancorp CEOs

Here are other CEOs of U.S. Bancorp