Are the American Express (AXP) Share Equivalent Units an open-market stock purchase or sale?

No, the Share Equivalent Units are not an open-market trade. They are a grant under the Directors' Deferred Compensation Plan, carry a price of $0.0000 per unit, and represent deferred cash-settled compensation rather than buying or selling American Express common stock in the market.

How many Share Equivalent Units does the American Express (AXP) director hold after this transaction?

After receiving the new award, the director holds 1,850.298 Share Equivalent Units. This figure includes the newly granted 742.115 units plus previously accumulated units, some of which were acquired through dividend reinvestment features in the applicable director compensation plans.

When will the American Express (AXP) Share Equivalent Units be paid to the director?

The Share Equivalent Units will be settled in cash following the director’s termination of service. The filing notes that the units are convertible immediately upon the end of board service, have no expiration date, and are administered under the company’s director compensation and share unit plans.

Do the American Express (AXP) Share Equivalent Units represent actual common shares?

Each Share Equivalent Unit reflects the value of one common share but is not itself a share. The filing explains that these units are part of the Directors' Deferred Compensation Plan and related programs, and will ultimately be settled in cash rather than delivering American Express common stock.

American Express (NYSE: AXP) director awarded deferred share 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 award of Share Equivalent Units. On the stated date, he was granted 742.115 Share Equivalent Units, bringing his total to 1,850.298 units. Each unit reflects the value of one common share but will be settled in cash, not stock.

The award was made under the Directors' Deferred Compensation Plan, with some units also coming from a dividend reinvestment feature and a prior share unit plan for directors. These units become payable in cash after his service as a director ends and are described as convertible at that time with no expiration date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Angelakis Michael J

Role null

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

Holdings After Transaction: Share Equivalent Units — 1,850.298 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: 1,850.298 units Unit conversion ratio: 1 unit = 1 common share value +1 more

4 metrics

Share Equivalent Units granted 742.115 units Grant under Directors' Deferred Compensation Plan

Total Share Equivalent Units after grant 1,850.298 units Holdings following reported transaction

Unit conversion ratio 1 unit = 1 common share value Each unit reflects value of one common share

Transaction price per unit $0.0000 per unit Reported price for granted Share Equivalent 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 - 04:05 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)
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	1,850.298⁽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	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 Michael Angelakis report on this Form 4?

Michael J. Angelakis reported receiving 742.115 Share Equivalent Units as compensation. These awards increase his total to 1,850.298 units, each tied to the value of one American Express common share and recorded as a derivative-based, cash-settled compensation arrangement.