Leonsis Theodore 4

What Happened
Theodore Leonsis, a director of American Express Company (AXP), was granted 742.115 Share Equivalent Units (SEUs) on 2026-05-05. The Form 4 reports these as an award/derivative acquisition at $0.00 (total reported cash value $0) because they are not immediate common shares but deferred compensation units that track the value of one common share each.

Key Details

• Transaction date and price: 2026-05-05; 742.115 SEUs at $0.00 (reported as a derivative award).
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnotes:
  • F1: Each SEU equals the value of one common share.
  • F2: SEUs were granted under the Directors' Deferred Compensation Plan and will be settled in cash after termination of director service.
  • F3: SEUs are convertible immediately upon termination and have no expiration.
  • F4: Amount includes units from dividend reinvestment features of the plan(s).
• Filing: Form 4 filed 2026-05-07 (appears timely). Exhibit 24: Power of Attorney included.

Context
Share Equivalent Units are a derivative form of director compensation that track the company’s stock value but are typically cash-settled when the director leaves service—so this award increases Leonsis’s deferred pay tied to AXP’s stock price rather than adding voting common shares today. Such director awards are routine compensation and do not by themselves indicate insider sentiment to buy or sell shares.