Form 4: American Express Director Michael Angelakis Acquires Share Equivalent Units Through Deferred Compensation Plan

American Express Director Michael J. Angelakis has acquired 29.993 Share Equivalent Units as part of the company's Directors' Deferred Compensation Plan, increasing his total beneficial ownership to 989.275 units.

Summary

• Michael J. Angelakis, a Director of American Express Co (AXP), acquired 29.993 Share Equivalent Units.
• The acquisition occurred on June 30, 2025, as part of the Directors' Deferred Compensation Plan.
• Each Share Equivalent Unit reflects the value of one common share of American Express.
• These units are convertible immediately upon termination of service as a Director and have no expiration date.
• The units will be settled in cash following termination of service.
• The acquisition includes units obtained through a dividend reinvestment feature and/or the 2003 Share Equivalent Unit Plan for Directors.
• Following this transaction, Michael J. Angelakis beneficially owns a total of 989.275 Share Equivalent Units.
• The price of the underlying Common Stock at the time of acquisition was $302.15 per share.

Sentiment

Score: 6

Explanation: Slightly positive due to director's increased beneficial ownership, indicating alignment with shareholder interests, though it's a routine compensation event.

Positives

• The acquisition of Share Equivalent Units by a Director indicates continued alignment of management interests with shareholder value.
• Participation in the Directors' Deferred Compensation Plan demonstrates a long-term commitment to the company.

Negatives

• No negative aspects are directly indicated by this routine insider transaction filing.

Risks

• No specific risks related to the company's operations or financial health are disclosed in this Form 4 filing.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• Each Share Equivalent Unit reflects the value of one common share.
• The reported Share Equivalent Units were acquired pursuant to the Directors' Deferred Compensation Plan and will be settled in cash following termination of service as a Director.
• The Share Equivalent Units are convertible immediately upon termination of service as a Director and have no expiration date.
• Includes Share Equivalent Units acquired pursuant to a dividend reinvestment feature of the Directors' Deferred Compensation Plan and/or the 2003 Share Equivalent Unit Plan for Directors.

Industry Context

The acquisition of Share Equivalent Units as part of a deferred compensation plan is a common practice for directors in publicly traded companies across various industries, including financial services. It serves to align the interests of directors with long-term shareholder value.

Comparison to Industry Standards

• Director compensation plans involving deferred equity-linked units are standard across major U.S. corporations, including those in the financial sector like JPMorgan Chase, Bank of America, and Citigroup.
• The structure, where units are settled in cash upon termination of service, is a common approach to provide long-term incentives while managing equity dilution.
• The inclusion of dividend reinvestment features is also a typical component of such plans, allowing for compounding of deferred compensation.

Stakeholder Impact

• Shareholders: The acquisition of Share Equivalent Units by a director aligns their interests with those of shareholders, as the value of these units is tied to the company's common stock performance.
• Employees: No direct impact on employees is indicated by this filing.
• Customers: No direct impact on customers is indicated by this filing.
• Suppliers: No direct impact on suppliers is indicated by this filing.
• Creditors: No direct impact on creditors is indicated by this filing.

Next Steps

• No specific future actions or milestones are mentioned in this Form 4 filing.

Key Dates

Keywords

American Express, AXP, Michael J. Angelakis, Director, SEC Form 4, Insider Transaction, Share Equivalent Units, Deferred Compensation, Corporate Governance, Financial Services