How many Share Equivalent Units does the AXP director hold after this Form 4?

After the transaction, he holds 9,505.023 Share Equivalent Units. This total includes the new 121.185 units granted and may also include units accumulated through a dividend reinvestment feature of the Directors' Deferred Compensation Plan and related director plans.

What are Share Equivalent Units in the American Express (AXP) director plan?

Each Share Equivalent Unit reflects the value of one American Express common share. For directors, these units are bookkeeping entries under deferred compensation and are ultimately settled in cash rather than stock, typically after the director’s service with the company ends.

When can the AXP director’s Share Equivalent Units be converted or settled?

The Share Equivalent Units are convertible immediately upon the director’s termination of service and have no expiration date. Settlement occurs in cash under the Directors' Deferred Compensation Plan, giving the director deferred, cash-settled exposure to American Express share value.

How were the reported AXP Share Equivalent Units acquired by the director?

The 121.185 Share Equivalent Units were acquired as a grant pursuant to the Directors' Deferred Compensation Plan. Additional units reflected in the total holdings may come from a dividend reinvestment feature of that plan and the 2003 Share Equivalent Unit Plan for Directors.

American Express (AXP) director granted 121.185 cash-settled share units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Baltimore Thomas J Jr reported acquisition or exercise transactions in this Form 4 filing.

American Express director Thomas J. Baltimore Jr. received 121.185 Share Equivalent Units on March 31, 2026 as a grant under the company’s Directors' Deferred Compensation Plan. Each unit reflects the value of one common share but will be settled in cash after his board service ends.

Following this award, he holds a total of 9,505.023 Share Equivalent Units, which may also include units accumulated through a dividend reinvestment feature. These units are convertible immediately upon termination of service as a director and have no expiration date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Baltimore Thomas J Jr

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Share Equivalent Units	121.185	$299.13	$36K

Holdings After Transaction: Share Equivalent Units — 9,505.023 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: 121.185 units Unit reference price: $299.13 per unit Total units after transaction: 9,505.023 units +2 more

5 metrics

Share Equivalent Units granted 121.185 units Grant on March 31, 2026

Unit reference price $299.13 per unit Value used for the March 31, 2026 grant

Total units after transaction 9,505.023 units Holdings following March 31, 2026 award

Underlying common shares 121.185 shares Each unit reflects one common share’s value

Exercise price $0.00 Share Equivalent Units under deferred compensation plan

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

"acquired pursuant to the Directors' Deferred Compensation Plan and will be settled in cash"

dividend reinvestment feature financial

"Includes Share Equivalent Units acquired pursuant to a dividend reinvestment feature"

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 04:07 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^*

Baltimore Thomas J Jr

(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⁾		121.185		⁽³⁾	⁽³⁾	Common Stock	121.185	$299.13	9,505.023⁽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 AXP director Thomas J. Baltimore Jr. report?

He reported receiving 121.185 Share Equivalent Units as a grant on March 31, 2026. These units track the value of American Express common stock and were issued under the Directors' Deferred Compensation Plan, to be settled in cash after his board service ends.