[Form 4] AMERICAN ELECTRIC POWER CO INC Insider Trading Activity

Rhea-AI Filing Summary

Sandra Beach Lin, a director of American Electric Power Co., acquired 377 phantom stock units under the AEP Stock Unit Accumulation Plan for Non-Employee Directors on 09/30/2025. Each phantom unit represents the cash value of one share of AEP common stock; the transaction used an AEP stock price of $112.50, and the units are payable in cash after the reporting person leaves the board. Following the reported grant, the filing shows the reporting person beneficially owns 18,360 shares (direct). The phantom units may be moved into an alternative investment account at any time. The Form 4 was signed by an attorney-in-fact on 10/02/2025.

Positive

• Grant consistent with standard director compensation under AEP's Stock Unit Accumulation Plan
• Phantom units are cash-settled, so there is no immediate dilution to AEP common stock
• Reporting includes clear disclosure of transaction date, unit amount, and valuation used ($112.50)

Negative

• Creates a future cash obligation for AEP because phantom units are payable in cash upon termination
• No immediate alignment via equity since units are cash-settled rather than share grants

Insights

Corporate Governance Expert

TL;DR: Director received 377 cash-settled phantom units, a routine director compensation action with limited immediate equity dilution.

This grant is a standard non-employee director award under AEP's stock unit accumulation plan. Because units are phantom (cash-settled) and payable upon termination of board service, there is no immediate issuance of shares and no dilution of outstanding common stock. The filing shows 18,360 shares beneficially owned directly by the reporting person, which provides context for her overall stake but does not change voting power now. The ability to transfer phantom units into an alternative investment account offers flexibility but does not alter the cash-settled nature of the award.

Compensation Analyst

TL;DR: This is a compensatory grant valued at $42,375 based on the stated price; typical for non-employee director pay programs.

Valuing 377 phantom units at the cited $112.50 per share implies a grant value of $42,375, indicating routine board compensation rather than a material acquisition or sale. Because the units are payable in cash rather than stock, this grant impacts future cash obligations rather than share count or market capitalization. The transaction date and mechanics are clearly disclosed, with no exercise or conversion features recorded in this Form 4.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

LIN SANDRA BEACH

(Last) (First) (Middle)

1 RIVERSIDE PLAZA

(Street)

COLUMBUS OH 43215

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN ELECTRIC POWER CO INC [ AEP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units(1)	$0	09/30/2025		A		377(1)		(2)	(2)	Common Stock	377(1)	$112.5(3)	18,360	D

Explanation of Responses:

1. Amounts shown represent value in AEP Stock Plan under the AEP Stock Unit Accumulation Plan for Non-Employee Directors. Each share of phantom stock represents the right to receive the cash value of one share of AEP common stock.

2. Shares of phantom stock are payable in cash following termination of the reporting person's service on the Board. The reporting person may transfer the phantom stock in the AEP Stock Plan account into an alternative investment account at any time.

3. Was AEP Stock Price at the time of the transaction.

Remarks:

	/s/ David C. House, Attorney-in-Fact for Sandra Beach Lin	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Sandra Beach Lin report on Form 4 for AEP?

The report discloses acquisition of 377 phantom stock units on 09/30/2025 under AEP's non-employee director plan.

Are the phantom units for AEP (AEP) paid in shares or cash?

The phantom stock units are cash-settled and payable following termination of board service.

What value was used for the reported phantom unit grant?

The filing lists an AEP stock price of $112.50 at the time of the transaction.

How many shares does the reporting person beneficially own after the transaction?

The Form 4 states the reporting person beneficially owns 18,360 shares following the reported transaction.

Can the phantom units be moved or changed by the reporting person?

Yes; the reporting person may transfer the phantom stock in the AEP Stock Plan account into an alternative investment account at any time.