[Form 4] American Express Company Insider Trading Activity

Rhea-AI Filing Summary

American Express insider report: Douglas E. Buckminster, Vice Chairman, reported multiple transactions on 09/02/2025 affecting his common stock and option holdings in American Express Company (AXP). He exercised an employee stock option with a $55.09 strike to acquire 23,505 shares and simultaneously sold 23,505 shares at a weighted average price of $326.37. The report shows a net change from 147,118.251 shares to 123,613.251 shares beneficially owned following the transactions. Additionally, 11,144 shares were transferred to the "Douglas E. Buckminster 2025 GRAT #1," an indirect holding that is exempt from Section 16 reporting under Rule 16a-13. Dividend reinvestment contributed to some shares reported.

Insights

Financial Analyst

TL;DR: Routine officer option exercise and contemporaneous sale; net beneficial ownership decreased but retained substantial holdings.

The filing documents a non-derivative and derivative sequence: exercise of 23,505 employee stock options at $55.09 and an immediate sale of 23,505 shares at a weighted average price of $326.37, indicating a standard option-exercise-to-sell liquidity event. Beneficial ownership after the transactions is reported as 123,613.251 shares, down from 147,118.251 immediately before. The transfer of 11,144 shares to a 2025 GRAT is disclosed and noted as exempt under Rule 16a-13. These are routine executive equity-management actions and do not, by themselves, indicate a material change to company control or capital structure.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16 reporting; transaction types and exemptions are properly identified.

The Form 4 identifies the reporting person as Vice Chairman and lists transaction codes that reflect exercise (M), sale (S), and a Rule 10b5-1 or similar filing (G) where applicable. The form explains the weighted-average sale price range and offers to provide detailed breakdowns if requested. The transfer to a Grantor Retained Annuity Trust (GRAT) is clearly marked as exempt per Rule 16a-13, and a power-of-attorney signature is included. From a governance and compliance viewpoint, the filing appears complete and consistent with regulatory requirements for insider reporting.

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

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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).

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^*

Buckminster Douglas E.

(Last) (First) (Middle)

200 VESEY STREET, AMERICAN EXPRESS TOWER

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice Chairman

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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
Common Stock	09/02/2025		G		610	D	$0	123,613.251(1)(2)	D
Common Stock	09/02/2025		M		23,505	A	$55.09	147,118.251	D
Common Stock	09/02/2025		S		23,505	D	$326.37(3)	123,613.251	D
Common Stock								11,144(2)	I	By Douglas E. Buckminster 2025 GRAT #1
Common Stock								21,516(4)	I	By The Douglas E. Buckminster Grantor Retained Annuity Trust Agreement

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
Employee Stock Option (Right to Buy)	$55.09	09/02/2025		M			23,505	01/26/2019	01/26/2026	Common Stock	23,505	$0	0	D

Explanation of Responses:

1. Includes shares acquired pursuant to dividend reinvestment.

2. Balance reflects the transfer of 11,144 shares from the reporting person to Douglas E. Buckminster 2025 GRAT #1 on September 2, 2025, which is exempt from Section 16 pursuant to Rule 16a-13.

3. The price reported in Column 4 is a weighted average price, rounded to the nearest cent. These shares were sold in multiple transactions at prices ranging from $326.12 to $326.66. The reporting person undertakes to provide to American Express Company, any security holder of American Express Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

4. Represents shares previously reported as owned through the Grantor Retained Annuity Trust.

Remarks:

Exhibit 24: Power of Attorney

	/s/ James J. Killerlane III, attorney in-fact	09/04/2025
	** 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 transactions did Douglas E. Buckminster report on Form 4 for AXP?

The form reports an exercise of 23,505 employee stock options at a $55.09 strike and a sale of 23,505 shares at a weighted average price of $326.37 on 09/02/2025.

How many AXP shares does Buckminster beneficially own after the reported transactions?

He beneficially owned 123,613.251 shares following the reported transactions.

What is the transfer to the Douglas E. Buckminster 2025 GRAT #1?

11,144 shares were transferred to the 2025 GRAT and that transfer is reported as exempt from Section 16 pursuant to Rule 16a-13.

What price range were the sold AXP shares executed at?

The shares sold were executed at prices ranging from $326.12 to $326.66, with a reported weighted average of $326.37.

Was the Form 4 signed by the reporting person?

The form includes a signature by an attorney-in-fact, /s/ James J. Killerlane III, dated 09/04/2025, indicating filing under power of attorney.