Are the American Express (AXP) Share Equivalent Units a market purchase or sale?

The Share Equivalent Units represent a compensation grant, not a market purchase or sale. They were acquired under the Directors' Deferred Compensation Plan as part of director pay, rather than through open-market trading in American Express stock.

How many Share Equivalent Units does the American Express (AXP) director now hold?

After this transaction, Deborah P. Majoras holds 4,316.906 Share Equivalent Units. These units mirror the value of American Express common shares and are accumulated through director compensation and dividend reinvestment features.

When will the American Express (AXP) Share Equivalent Units be settled for the director?

The Share Equivalent Units will be settled in cash after the director’s service ends. They are credited now under the Directors' Deferred Compensation Plan and become payable following termination of service as a director of American Express.

What does each Share Equivalent Unit represent for American Express (AXP) directors?

Each Share Equivalent Unit reflects the value of one American Express common share. While they track share value, these units are part of a deferred compensation arrangement and are ultimately settled in cash rather than delivering actual stock.

How were the new Share Equivalent Units for the American Express (AXP) director priced?

The 60.592 Share Equivalent Units were credited at $299.13 per unit. This price is used for the award calculation under the Directors' Deferred Compensation Plan, which grants units whose value tracks American Express common shares.

American Express (NYSE: AXP) director awarded share equivalent units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Majoras Deborah P reported acquisition or exercise transactions in this Form 4 filing.

American Express director Deborah P. Majoras received a grant of 60.592 Share Equivalent Units on the company, each reflecting the value of one common share. These units were awarded at $299.13 per unit under the Directors' Deferred Compensation Plan as a form of cash-settled compensation.

Following this award, Majoras holds a total of 4,316.906 Share Equivalent Units. The units are credited now but will be settled in cash after her service as a director ends and are immediately convertible upon termination of service, with no expiration date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Majoras Deborah P

Role Director

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

Holdings After Transaction: Share Equivalent Units — 4,316.906 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 Grant price per unit: $299.13 per unit Total units after transaction: 4,316.906 units +2 more

5 metrics

Share Equivalent Units granted 60.592 units Grant on March 31, 2026 under Directors' Deferred Compensation Plan

Grant price per unit $299.13 per unit Value used for Share Equivalent Unit award

Total units after transaction 4,316.906 units Director’s Share Equivalent Unit balance following award

Conversion price $0.00 Share Equivalent Units carry no exercise or conversion price

Underlying common stock linkage 1 unit = 1 share value Each Share Equivalent Unit reflects value of one common share

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 of the Directors' Deferred Compensation Plan"

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 04:09 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^*

Majoras Deborah P

(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	4,316.906⁽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 Deborah P. Majoras report on this Form 4?

Deborah P. Majoras reported receiving 60.592 Share Equivalent Units as compensation. Each unit tracks one American Express common share, increasing her deferred holdings to 4,316.906 units under the company’s director compensation plans.