Grosfield Howard 4

What Happened

• Howard Grosfield, Group President, U.S. Consumer Services at American Express, had 17,280 Performance Restricted Stock Units (PRSUs) vest on 2026-02-01 (award/acquisition). Simultaneously, 9,146 shares were surrendered to satisfy tax withholding obligations at $352.17 per share, generating proceeds/withholding of $3,220,947.
• The vesting reflects PRSUs granted in February 2023 that vested based on pre-set performance criteria and continued employment (footnote F1). The share surrender is a tax-withholding event rather than an open-market sale (footnote F3).

Key Details

• Transaction date: 2026-02-01; Form 4 filed: 2026-02-03 (timely filing).
• Awarded/vested: 17,280 shares (code A; acquisition via vesting). No per-share price for the award (N/A).
• Shares surrendered for taxes: 9,146 shares at $352.17 each, total $3,220,947 (code F; tax withholding).
• Shares owned after transaction: not specified in this filing. Footnote F4 notes some shares are held in the reporting person’s company Retirement Savings Plan (unit accounting may vary with fund price).
• Other footnotes: F2 indicates inclusion of dividend reinvestment; F1 explains the PRSU vesting conditions; F3 confirms the disposition was to satisfy tax obligations.
• Filing timeliness: Filed within the Form 4 window (no late filing indicated).

Context

• This was a vesting of performance-based restricted stock units and a tax-related surrender of shares—common administrative actions when equity awards vest. The surrendered shares were used for withholding taxes (a cashless-like action), not a discretionary open-market sale that would more directly convey insider sentiment.