How do the Share Equivalent Units in the AXP filing relate to American Express common stock?

Each Share Equivalent Unit reflects the value of one American Express common share. While they mirror share value, these units are settled in cash after the director’s service ends rather than delivering actual common shares to Theodore Leonsis.

When will Theodore Leonsis receive cash for the Share Equivalent Units reported for American Express (AXP)?

The Share Equivalent Units will be settled in cash after Theodore Leonsis’ service as a director ends. The filing notes they are acquired under the Directors’ Deferred Compensation Plan and are convertible immediately upon termination of service with no expiration date.

What is Theodore Leonsis’ total Share Equivalent Unit position in American Express (AXP) after this grant?

After the grant of 742.115 units, Theodore Leonsis holds 42,761.667 Share Equivalent Units. This total includes units earned through director compensation programs and those added via dividend reinvestment features tied to American Express common stock value.

Do the Share Equivalent Units in the American Express (AXP) Form 4 ever expire?

The filing states the Share Equivalent Units have no expiration date. They are convertible into a cash payment based on American Express common share value immediately upon the director’s termination of service, rather than expiring on a specific future date.

Director at American Express (NYSE: AXP) gets 742 share units award

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

American Express director Theodore Leonsis received a compensation award of 742.115 Share Equivalent Units tied to common stock. Each unit reflects the value of one common share and was granted at a stated price of 0.0000 per unit as part of director compensation plans.

The units were acquired under the Directors' Deferred Compensation Plan and similar programs, and will be settled in cash after his service as a director ends. Following this grant and related dividend reinvestment features, Leonsis now holds a total of 42,761.667 Share Equivalent Units linked to American Express common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Leonsis Theodore

Role null

Type	Security	Shares	Price	Value
Grant/Award	Share Equivalent Units	742.115	$0.00	--

Holdings After Transaction: Share Equivalent Units — 42,761.667 shares (Direct, null)

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: 742.115 units Total Share Equivalent Units after grant: 42,761.667 units Grant price per unit: 0.0000 +1 more

4 metrics

Share Equivalent Units granted 742.115 units Award on May 5, 2026

Total Share Equivalent Units after grant 42,761.667 units Holdings following reported transaction

Grant price per unit 0.0000 Stated transaction price per Share Equivalent Unit

Underlying security shares 742.115 shares Common stock equivalent underlying the new 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

"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 →

05/07/2026 - 04:10 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^*

Leonsis Theodore

(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)
05/05/2026

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⁾	05/05/2026		A⁽²⁾		742.115		⁽³⁾	⁽³⁾	Common Stock	742.115	$0	42,761.667⁽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	05/07/2026
	** 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 Theodore Leonsis report on this Form 4?

Theodore Leonsis reported receiving 742.115 Share Equivalent Units as a compensation award. These units track American Express common stock value and are part of director compensation programs, increasing his total Share Equivalent Units position to 42,761.667 after the transaction.

Are the 742.115 units in the American Express (AXP) Form 4 a market purchase or sale?

The 742.115 units are a grant, not a market trade. They were acquired as a compensation award under the Directors' Deferred Compensation Plan, with a stated price of 0.0000 per unit, and therefore do not represent an open-market buy or sell.