WARDELL LISA W 4

What Happened

• Lisa W. Wardell, a director of American Express Company (AXP), was granted 125.364 share-equivalent units on March 31, 2026. The units were reported at $299.13 each, for a total reported value of $37,500. The transaction is coded as an award/acquisition (A) — not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-03-31; 125.364 share-equivalent units @ $299.13 each = $37,500.
• Filing date: Report filed Apr 2, 2026 (no late filing indicator in the filing).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Important footnotes:
  • F1: Each Share Equivalent Unit reflects the value of one common share.
  • F2: Units were granted under the Directors' Deferred Compensation Plan and will be settled in cash following termination of service as a director.
  • F3: Units are convertible immediately upon termination of service and have no expiration date.
  • F4: Amount includes units acquired via a dividend reinvestment feature of the plan.
• Transaction type: Derivative award (share-equivalent units), cash-settled upon departure — not actual common shares delivered now.

Context

• Share-equivalent units are a common form of director compensation that track the value of company stock but are typically cash-settled when the director leaves the board; they do not necessarily indicate buying or selling sentiment.
• Because this was an award under a deferred compensation plan (not an open-market trade), it should be viewed as routine director compensation rather than a direct personal investment decision.