[Form 4] AMERICAN EXPRESS CO Insider Trading Activity

Rhea-AI Filing Summary

American Express (AXP) reported a Form 4 for an officer (Pres., Enterprise Shared Serv.) showing an acquisition of 52,395 employee stock options on 10/31/2025. The options carry a $148.45 exercise price, become exercisable on 10/31/2026, and expire on 10/31/2029. Following the transaction, the reporting person directly holds 52,395 derivative securities.

The filing notes these relate to a Performance Stock Option award granted in October 2022, of which 75% has vested based on specified performance criteria. The remaining 25% is contingent on meeting performance goals and the reporting person’s continued employment through October 31, 2026.

Insights

Equity compensation analyst

Routine equity award vesting; neutral impact.

The Form 4 records acquisition of 52,395 employee stock options at an exercise price of $148.45. These options are scheduled to be exercisable beginning 10/31/2026 and expire on 10/31/2029. This aligns with typical multi-year equity compensation structures for senior executives.

The narrative states 75% of the performance options vested based on predefined criteria from the October 2022 grant, with the remaining 25% tied to future performance and continued employment through 10/31/2026. There is no cash flow to the issuer at grant; any proceeds would arise only upon potential future exercise at the stated price.

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

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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).

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^*

Pickett Denise

(Last) (First) (Middle)

200 VESEY STREET, AMERICAN EXPRESS TOWER

(Street)

NEW YORK NY 10285-5001

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Pres., Enterprise Shared Serv.

3. Date of Earliest Transaction (Month/Day/Year)
10/31/2025

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
Employee Stock Option (Right to Buy)	$148.45	10/31/2025		A(1)		52,395		10/31/2026	10/31/2029	Common Stock	52,395	$0	52,395	D

Explanation of Responses:

1. Represents shares acquired pursuant to vesting of Performance Stock Option (Options) that were granted to the reporting person in October 2022, 75% of which have vested based upon the satisfaction of performance criteria specified for the award at time of grant. The remaining 25% of the Options remain subject to the satisfaction of performance criteria and the reporting person's continued employment through October 31, 2026.

	/s/ James J. Killerlane III, attorney in-fact	11/04/2025
	** 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 did American Express (AXP) disclose in this Form 4?

An officer acquired 52,395 employee stock options on 10/31/2025 at a $148.45 exercise price.

When do the AXP options become exercisable and when do they expire?

They become exercisable on 10/31/2026 and expire on 10/31/2029.

How much of the AXP performance award has vested?

75% has vested based on performance criteria from the October 2022 grant.

What conditions remain on the unvested AXP options?

The remaining 25% depends on meeting performance criteria and continued employment through 10/31/2026.

How many derivative securities does the reporting person hold after the AXP transaction?

The reporting person directly holds 52,395 derivative securities.

Does American Express receive proceeds from this Form 4 event?

No proceeds occur at grant; proceeds would occur only upon any future option exercise at $148.45 per share.