Wallace Noel R. 4

What Happened

• Noel R. Wallace, a director of American Express Company (AXP), was granted 742.115 Share Equivalent Units (SEUs) on 2026-05-05. The filing reports an acquisition (award) at $0.00 per unit (derivative instrument); the reported dollar value is $0 because these are deferred, not immediate stock purchases.
• These SEUs reflect the economic value of common shares but are payable in cash following termination of service rather than being issued as common stock. This is a compensation-related award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-05; Form 4 filed: 2026-05-07 (appears timely; Form 4s are due within two business days).
• Instrument and amount: 742.115 Share Equivalent Units (derivative award), reported at $0.00 per unit.
• Shares owned after transaction: Not specified in the supplied data.
• Footnotes of note:
  • F1: Each SEU reflects the value of one common share.
  • F2: SEUs were acquired under the Directors' Deferred Compensation Plan and will be settled in cash following termination of director service.
  • F3: SEUs convert immediately upon termination of service and have no expiration date.
• Transaction code: A = Award/Grant.

Context

• These SEUs are a form of deferred compensation and do not represent immediate purchases or sales of common stock. They are cash-settled on departure, so they do not directly change the outstanding share count or indicate a current market buy/sell by the director.
• For retail investors, such director awards are routine compensation events and should not be interpreted as the director putting fresh personal capital into (or taking capital out of) the company today.