Wallace Noel R. 4

What Happened

• Noel R. Wallace, a director of American Express Company (AXP), received a grant of 108.52 share-equivalent units (SEUs) on 2026-06-30. The filing reports a per-unit valuation of $334.04, for a total reported value of $36,250. This was an award under the company’s directors’ deferred compensation arrangements (derivative award), not an open-market purchase.

Key Details

• Transaction date and type: 2026-06-30 — Award/Grant (code A) of 108.52 SEUs at $334.04 each (total $36,250).
• Nature of award: Share Equivalent Units (derivative), which reflect the value of one common share (F1).
• Settlement: SEUs were acquired under the Directors’ Deferred Compensation Plan and will be settled in cash following termination of service as a director (F2); they are convertible immediately upon termination and have no expiration date (F3).
• Additional: Includes SEUs from dividend reinvestment features of the plans (F4).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Timeliness: Filing appears timely (reporting period 2026-06-30; Form 4 filed 2026-07-02).

Context

• These are deferred compensation share-equivalent units payable in cash on departure, not actual common shares delivered today. Such awards are routine for non-employee directors and represent deferred pay rather than an immediate market purchase or sale; they do not necessarily signal a buy or sell intent.