What are Share Equivalent Units in the American Express (AXP) Form 4?

Share Equivalent Units each reflect the value of one American Express common share. For this filing, they are bookkeeping units under the Directors' Deferred Compensation Plan that track share value but are ultimately settled in cash, not stock, after the director’s service ends.

How many Share Equivalent Units does the AXP director hold after this transaction?

After receiving 62.682 additional units, the director holds a total of 9,673.947 Share Equivalent Units. This balance includes units from prior grants and dividend reinvestment features tied to American Express’ director compensation and related plans.

When will the American Express (AXP) Share Equivalent Units be settled?

The Share Equivalent Units will be settled in cash following the director’s termination of service. They are designed as deferred compensation, allowing the value to track American Express common stock until service ends, at which point the cash value is paid.

Do the reported AXP Share Equivalent Units ever expire or require exercise?

The Share Equivalent Units have no expiration date and are convertible immediately upon termination of service as a director. They do not require an exercise payment, functioning instead as deferred cash-settled units tied to American Express’ common stock value.

American Express (NYSE: AXP) director receives new share-equivalent units grant

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Director Charles E. Phillips Jr. acquired 62.682 Share Equivalent Units of American Express under the Directors' Deferred Compensation Plan. Each unit reflects the value of one common share but will be settled in cash after his service as a director ends. Following this grant, he holds 9,673.947 Share Equivalent Units, which are convertible upon termination of service and have no expiration date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider PHILLIPS JR CHARLES E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Share Equivalent Units	62.682	$299.13	$19K

Holdings After Transaction: Share Equivalent Units — 9,673.947 shares (Direct)

Footnotes (1)

Each Share Equivalent Unit reflects the value of one common share. The reported Share Equivalent Units were acquired pursuant to the Directors' Deferred Compensation Plan and will be settled in cash following termination of service as a Director. The Share Equivalent Units are convertible immediately upon termination of service as a Director and have no expiration date. Includes Share Equivalent Units acquired pursuant to a dividend reinvestment feature of the Directors' Deferred Compensation Plan and/or the 2003 Share Equivalent Unit Plan for Directors.

Key Figures

Share Equivalent Units granted: 62.682 units Unit reference value: $299.13 per unit Total Share Equivalent Units held: 9,673.947 units +1 more

4 metrics

Share Equivalent Units granted 62.682 units Grant under Directors' Deferred Compensation Plan on March 31, 2026

Unit reference value $299.13 per unit Transaction price per Share Equivalent Unit

Total Share Equivalent Units held 9,673.947 units Holdings following the reported transaction

Conversion price $0.00 Conversion or exercise price for Share Equivalent Units

Key Terms

Share Equivalent Units, Directors' Deferred Compensation Plan, dividend reinvestment feature, 2003 Share Equivalent Unit Plan for Directors

4 terms

Directors' Deferred Compensation Plan financial

"The reported Share Equivalent Units were acquired pursuant to the Directors' Deferred Compensation Plan"

dividend reinvestment feature financial

"Includes Share Equivalent Units acquired pursuant to a dividend reinvestment feature of the Directors' Deferred Compensation Plan"

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 04:11 PM

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

PHILLIPS JR CHARLES E

(Last)

(First)

(Middle)

C/O AMERICAN EXPRESS COMPANY

200 VESEY STREET

(Street)

NEW YORK

10285-5001

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN EXPRESS CO [ AXP ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Share Equivalent Units	⁽¹⁾	03/31/2026		A⁽²⁾		62.682		⁽³⁾	⁽³⁾	Common Stock	62.682	$299.13	9,673.947⁽⁴⁾	D

Explanation of Responses:

1. Each Share Equivalent Unit reflects the value of one common share.

2. The reported Share Equivalent Units were acquired pursuant to the Directors' Deferred Compensation Plan and will be settled in cash following termination of service as a Director.

3. The Share Equivalent Units are convertible immediately upon termination of service as a Director and have no expiration date.

4. Includes Share Equivalent Units acquired pursuant to a dividend reinvestment feature of the Directors' Deferred Compensation Plan and/or the 2003 Share Equivalent Unit Plan for Directors.

	/s/ James J. Killerlane III, attorney-in-fact	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Charles E. Phillips Jr. report at AXP?

Charles E. Phillips Jr., a director of American Express, reported acquiring 62.682 Share Equivalent Units. These units were granted under the Directors' Deferred Compensation Plan and increase his total holdings to 9,673.947 Share Equivalent Units linked to American Express common stock value.

Were any American Express (AXP) shares bought or sold on the market in this Form 4?

No open-market buys or sells were reported. The filing shows a grant of 62.682 Share Equivalent Units as director compensation, a non-market, cash-settled award rather than a purchase or sale of American Express common stock in the market.