Form 4: American Express Director Charles E. Phillips Jr. Reports Acquisition of Share Equivalent Units

Charles E. Phillips Jr., a director of American Express, reported the acquisition of 955.276 share equivalent units, convertible to common stock, under the company's director compensation plan.

Summary

• On May 6, 2024, Charles E. Phillips Jr., a director of American Express Co, acquired 955.276 share equivalent units.
• These units were awarded under the company's 2003 Share Equivalent Unit Plan for Directors.
• Each share equivalent unit represents the value of one common share of American Express.
• The units will be settled in cash upon termination of Phillips' service as a director.
• Phillips directly owns 7,601.826 share equivalent units following the reported transaction, which includes units acquired through dividend reinvestments.

Sentiment

Score: 7

Explanation: The sentiment is neutral as it reflects a standard transaction related to director compensation. There are no indications of positive or negative implications for the company's performance.

Positives

• The acquisition of share equivalent units reflects continued participation in the company's director compensation plan.

Future Outlook

The share equivalent units will be settled in cash following termination of service as a Director.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation.

Key Dates