AmEx director receives deferred share-based units

Wallace Noel R. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Wallace Noel R. reported acquisition or exercise transactions in this Form 4 filing.

American Express director Wallace Noel R. reported receiving 121.185 Share Equivalent Units tied to the value of American Express common stock at a reference price of $299.13 per unit. These units were granted under the Directors' Deferred Compensation Plan as non-cash compensation.

Each Share Equivalent Unit mirrors one common share in value but will be settled in cash after his service as a director ends. The units are described as convertible immediately upon termination of service and have no expiration date, highlighting that this is a deferred, cash-settled award rather than an open-market stock purchase or sale.

Insider Trade Summary

Grant/Award: 121.185 shares

Grant/Award 1 txn

Insider Wallace Noel R.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Share Equivalent Units	121.185	$299.13	$36K

Holdings After Transaction: Share Equivalent Units — 121.185 contracts (Direct)

Footnotes (3)

1. F1. Each Share Equivalent Unit reflects the value of one common share.
2. F2. 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. F3. The Share Equivalent Units are convertible immediately upon termination of service as a Director and have no expiration date.

Key Figures

Share Equivalent Units granted: 121.185 units Reference price per unit: $299.13 per unit Units held after transaction: 121.185 units +1 more

4 metrics

Share Equivalent Units granted 121.185 units Grant under Directors' Deferred Compensation Plan

Reference price per unit $299.13 per unit Transaction price for Share Equivalent Units

Units held after transaction 121.185 units Total Share Equivalent Units following grant

Conversion price $0.00 Conversion or exercise price for Share Equivalent Units

Key Terms

Share Equivalent Units, Directors' Deferred Compensation Plan, settled in cash, convertible immediately upon termination of service

4 terms

Share Equivalent Units financial

"Each Share Equivalent Unit reflects the value of one common share."

Directors' Deferred Compensation Plan financial

"acquired pursuant to the Directors' Deferred Compensation Plan and will be settled in cash"

settled in cash financial

"will be settled in cash following termination of service as a Director"

convertible immediately upon termination of service financial

"The Share Equivalent Units are convertible immediately upon termination of service as a Director"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did American Express (AXP) director Wallace Noel R. report on this Form 4?

He reported receiving 121.185 Share Equivalent Units as compensation. Each unit reflects the value of one American Express common share, granted under the Directors' Deferred Compensation Plan and recorded at a reference price of $299.13 per unit.

Are the 121.185 Share Equivalent Units for AXP an open-market stock purchase or sale?

No, they are not an open-market trade. The 121.185 Share Equivalent Units are a compensation grant under the Directors' Deferred Compensation Plan, representing deferred value tied to AXP stock rather than shares bought or sold in the market.

How and when will Wallace Noel R.’s AXP Share Equivalent Units be settled?

The Share Equivalent Units will be settled in cash after his service as a director ends. Although each unit reflects the value of one common share, the plan specifies cash settlement following termination of board service.

What does it mean that each AXP Share Equivalent Unit reflects one common share?

It means each unit tracks the value of a single American Express common share. While the units mirror share value, they are part of a deferred compensation arrangement and are intended to be paid out in cash rather than delivered as stock.

Do the AXP Share Equivalent Units reported have an expiration date or vesting schedule?

The filing states the units are convertible immediately upon termination of service as a director and have no expiration date. This indicates they remain outstanding until his board service ends, when they are then settled in cash.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/06/2026 - 04:06 PM Learn about SEC filing dates

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^*

Wallace Noel R.

(Last) (First) (Middle)

C/O AMERICAN EXPRESS COMPANY

200 VESEY STREET

(Street)

NEW YORK 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)
			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)	03/31/2026		A(2)		121.185		(3)	(3)	Common Stock	121.185	$299.13	121.185	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.

	/s/ James J. Killerlane III, attorney-in-fact	04/06/2026
	** 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)