Are the Share Equivalent Units reported by AXP director Angelakis actual American Express shares?

The reported Share Equivalent Units are not actual shares; they are cash-settled units tied to the value of one common share. They are part of a deferred compensation program and will be settled in cash after Angelakis’ service as a director ends.

When will Michael J. Angelakis receive cash for his American Express Share Equivalent Units?

Angelakis will receive cash for the Share Equivalent Units after his service as an American Express director terminates. At that time, the units, which are immediately convertible upon termination and have no expiration date, will be settled based on the plan’s terms.

How many American Express Share Equivalent Units does Angelakis hold after this Form 4 transaction?

After this grant, Angelakis holds a total of 1,108.182 Share Equivalent Units. This figure includes the newly awarded 60.592 units and additional units accumulated through dividend reinvestment features of American Express’ director compensation plans.

What was the reference price for the Share Equivalent Units granted to Angelakis at American Express?

The 60.592 Share Equivalent Units granted to Angelakis were reported at a reference price of $299.13 per unit. Each unit reflects the value of one American Express common share for compensation and reporting purposes under the company’s director plans.

Do the Share Equivalent Units give Angelakis voting rights in American Express (AXP)?

The filing describes Share Equivalent Units as deferred compensation settled in cash, tied to the value of common shares. It does not state that these units carry voting rights, emphasizing their role as cash-settled compensation rather than direct share ownership.

Director at American Express (NYSE: AXP) granted cash-settled share equivalent units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Angelakis Michael J reported acquisition or exercise transactions in this Form 4 filing.

AMERICAN EXPRESS CO director Michael J. Angelakis received a compensation-related award of 60.592 Share Equivalent Units on March 31, 2026. Each unit reflects the value of one common share and was priced at $299.13 for reporting purposes.

The units were granted under the Directors' Deferred Compensation Plan, will be settled in cash after his service as a director ends, and are convertible at that time with no expiration date. Following this grant, Angelakis holds a total of 1,108.182 Share Equivalent Units, including amounts accumulated through a dividend reinvestment feature.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Angelakis Michael J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Share Equivalent Units	60.592	$299.13	$18K

Holdings After Transaction: Share Equivalent Units — 1,108.182 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: 60.592 units Reference price per unit: $299.13 Total units after grant: 1,108.182 units +2 more

5 metrics

Share Equivalent Units granted 60.592 units Grant on March 31, 2026

Reference price per unit $299.13 Value per Share Equivalent Unit

Total units after grant 1,108.182 units Share Equivalent Units held after transaction

Underlying common stock equivalent 60.592 shares Each unit reflects one common share

Conversion price $0.00 Share Equivalent Units have no exercise price

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 - 04:04 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^*

Angelakis Michael J

(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⁾		60.592		⁽³⁾	⁽³⁾	Common Stock	60.592	$299.13	1,108.182⁽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 did American Express (AXP) director Michael J. Angelakis report in this Form 4?

Michael J. Angelakis reported receiving 60.592 Share Equivalent Units as a compensation award. These units track the value of American Express common stock and were granted under the Directors' Deferred Compensation Plan, increasing his total deferred units position to 1,108.182.