Wallace Noel R. 4

What Happened

• Noel R. Wallace, a director of American Express Company (AXP), was granted 121.185 share-equivalent units on 2026-03-31 valued at $299.13 each, totaling $36,250. The transaction is reported as an award/acquisition (derivative).

Key Details

• Transaction date: 2026-03-31; Filing date: 2026-04-06 (filed 6 days after the transaction; exceeds the typical 2-business-day Form 4 deadline).
• Quantity and value: 121.185 share-equivalent units @ $299.13 each = $36,250 total.
• Shares owned after transaction: Not disclosed in this filing.
• Transaction code: A (award/grant); instrument reported as a derivative share-equivalent unit.
• 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 following termination of service as a director; F3 — units are convertible immediately upon termination and have no expiration date.

Context

• These are share-equivalent units under a deferred compensation plan, not immediate common-stock grants. They will be converted/settled in cash when Wallace leaves the board, so this award does not represent current voting shares or direct open-market buying. Director awards under deferred comp plans are typically routine compensation.