American Express director credited 9,276 SEUs; will settle in cash

Rhea-AI Filing Summary

Lisa W. Wardell, a Director of American Express Company (AXP), reported acquiring 9,276.072 Share Equivalent Units on 09/30/2025 under the company’s Directors' Deferred Compensation Plan.

Each Share Equivalent Unit reflects the value of one common share and the reported units will be settled in cash following termination of Ms. Wardell’s service as a Director. The units are convertible immediately upon termination and have no expiration date. The reported total includes units acquired through a dividend reinvestment feature of the Directors' Deferred Compensation Plan and/or the 2003 Share Equivalent Unit Plan for Directors.

Positive

• 9,276.072 Share Equivalent Units were acquired by a director, indicating continued participation in compensation plans
• Units were acquired under the Directors' Deferred Compensation Plan, aligning compensation with company performance
• The Share Equivalent Units are convertible immediately upon termination and have no expiration date, preserving economic value for the director
• The reported total includes units from a dividend reinvestment feature, showing reinvestment of dividends into compensation units

Negative

• None.

Insights

Corporate Governance Expert

Director acquired deferred-compensation units that will settle in cash after service ends.

This Form 4 shows 9,276.072 Share Equivalent Units were credited to Director Lisa W. Wardell on 09/30/2025 under American Express’s Directors' Deferred Compensation Plan.

The units represent economic exposure to common shares but are structured to be settled in cash after termination of director service and are convertible immediately upon termination with no expiration date. The filing also confirms inclusion of units from a dividend reinvestment feature.

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).

1. Name and Address of Reporting Person^*

WARDELL LISA W

(Last) (First) (Middle)

C/O AMERICAN EXPRESS COMPANY

200 VESEY STREET

(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)

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
Share Equivalent Units	(1)	09/30/2025		A(2)		111.82		(3)	(3)	Common Stock	111.82	$335.36	9,276.072(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.

Remarks:

Exhibit 24: Power of Attorney

	/s/ James J. Killerlane III, attorney-in-fact	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 did Lisa W. Wardell report on the AXP Form 4?

She reported acquiring 9,276.072 Share Equivalent Units on 09/30/2025 under the company’s Directors' Deferred Compensation Plan.

How will the Share Equivalent Units be settled according to the filing?

The units will be settled in cash following termination of service as a Director.

Are the Share Equivalent Units exercisable or time‑limited?

The units are convertible immediately upon termination of director service and have no expiration date.

Do the reported units include dividend reinvestment?

Yes, the filing states the total includes units acquired pursuant to a dividend reinvestment feature of the Directors' Deferred Compensation Plan and/or the 2003 Share Equivalent Unit Plan for Directors.

What is the reporting date and filing signature date on the Form 4?

The transaction date is 09/30/2025 and the Form 4 was signed by an attorney‑in‑fact on 10/02/2025.