Baltimore Thomas J Jr 4

What Happened
Thomas J. Baltimore Jr, a director of American Express (AXP), was granted 121.185 share-equivalent units (derivative award) on 2026-03-31. The award was recorded at $299.13 per unit, with a total reported value of $36,250. This was an award (grant) under the company’s directors’ deferred compensation arrangements, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-31; Form 4 filed: 2026-04-02 (timely filing).
• Transaction type/code: Award/Grant (A); derivative-based Share Equivalent Units.
• Units granted: 121.185 share-equivalent units at $299.13 each; total value $36,250 (reported).
• Shares owned after transaction: Not reported on the Form 4.
• Footnotes:
  • F1: Each Share Equivalent Unit equals the value of one common share.
  • F2: Units were granted under the Directors' Deferred Compensation Plan and will be settled in cash after the director’s service ends.
  • F3: Units convert immediately upon termination and have no expiration date.
  • F4: Includes units from dividend reinvestment features of the plan.

Context
These are deferred-compensation, share-equivalent units that track AXP stock value and are payable in cash upon the director’s departure—so they do not represent immediate stock ownership or a market-direction bet. Awards to directors are common and often part of routine compensation rather than a signal of personal buying or selling.