Quarles Randal K. 4

What Happened
Randal K. Quarles, a director of American Express Company (AXP), was granted 742.115 share-equivalent units on 2026-05-05. The units were reported at $0.00 per unit (derivative award) and will be settled in cash rather than actual shares. This is a deferred compensation award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-05; Filing date: 2026-05-07 (timely filing).
• Transaction type/code: Award/Acquisition (A) — 742.115 share-equivalent units at $0.00 (derivative).
• Reported value in filing: $0 (derivative instrument; cash settlement expected).
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes: Each unit equals the value of one common share (F1). Units were granted under the Directors' Deferred Compensation Plan and will be settled in cash upon termination of service (F2). Units convert immediately upon termination and have no expiration (F3).

Context
Share-equivalent units are a deferred, cash‑settled form of compensation for directors and do not represent immediate stock ownership or voting power. Such awards are common for director compensation and are not the same signal as an open-market purchase (which may be read as a stronger bullish signal).