Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-02

AMERICAN EXPRESS CO (AXP)

CEO Stephen Squeri was paid $46,239,805 in fiscal year 2025, ↑ up 24.4% from fiscal year 2024, the 67th percentile of its disclosed peer group (SEC filing 0001104659-26-034163 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$46,239,805 ↑
Stephen Squeri total, FY2025
67th
CEO pay percentile vs peers
814:1
CEO-to-median pay ratio
93.32%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Stephen Squeri (Chairman and Chief Executive Officer), FY2025 total compensation $46,239,805 (base salary $1,729,167) [exec_comp, SEC accession 0001104659-26-034163, filed 2026-03-25]

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AXP's next annual pay disclosure, estimated April 5, 2027.est. Filing ↗

Page 2 of 36 of the AMERICAN EXPRESS CO Executive Compensation Report, as it is delivered: Executive Summary.

That is page 2 of 36 of the full Executive Compensation Report, shown as it is delivered. The rest:

  1. Summary Compensation Table
  2. Equity transactions since the proxy statement
  3. Grants of plan-based awards
  4. Outstanding equity awards at fiscal year-end
  5. Incentive-plan design (CD&A)
  6. Say-on-pay
  7. CEO pay ratio
  8. Director compensation
  9. Board fee structure and ownership guideline
  10. Disclosed peer group
  11. Source register

Every figure above cites the filing it came from (accession 0001104659-26-034163, filed 2026-10-02) — see the source register, §11.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Stephen Squeri$1,729,167$11,328,125$23,486,257$5,399,962$0$66,178$4,230,116$46,239,805
Chairman and Chief Executive Officer
Douglas Buckminster1,100,0006,700,0006,051,5451,379,910047,448296,86715,575,770
Former Vice Chairman
Christophe Le Caillec933,3335,900,0004,957,9701,139,9520—159,20313,090,458
Chief Financial Officer
Howard Grosfield933,3335,900,0004,957,9701,139,95203,983142,40713,077,645
President, U.S. Consumer Services
Raymond Joabar943,7505,250,0005,045,0361,159,939014,056170,03612,582,817
Group President, Global Commercial Services

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Stephen Squeri$46,239,805$37,164,405$35,676,905↑ +9,075,400
Douglas Buckminster15,575,77016,048,20315,611,578↓ −472,433
Christophe Le Caillec13,090,4589,643,1446,245,154↑ +3,447,314
Howard Grosfield13,077,645———
Raymond Joabar12,582,817———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$46,239,805 Stephen Squeri total, FY2025

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Data as of October 2, 2026 · Source: 0001104659-26-034163 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against AXP
29 companies name AXP as a compensation peer

Each company listed discloses AXP in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named AXP in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Douglas BuckminsterVice Chairman$15,575,770
Howard GrosfieldEVP$13,077,645
Raymond JoabarEVP$12,582,817
Christophe Le CaillecCFO$13,090,458
Stephen SqueriCEO$46,239,805
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Charles E. PhillipsIndependent Director$417,068
Christopher D. YoungIndependent Director$460,172
Daniel L. VasellaIndependent Director$521,828
Deborah P. MajorasIndependent Director$451,629
John J. BrennanLead Independent Director$589,790
Karen L. ParkhillIndependent Director$445,296
Lisa W. WardellIndependent Director$417,267
Lynn A. PikeIndependent Director$647,741
Michael J. AngelakisIndependent Director$362,001
Noel WallaceIndependent Director$63,858
Randal K. QuarlesIndependent Director$63,858
Theodore J. LeonsisIndependent Director$510,287
Thomas J. BaltimoreIndependent Director$457,037
Walter J. Clayton IIIFormer director (through FY2025)$59,474
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
John J. BrennanDirector2026-03-31A221.48$299$66,250Derivative, Class A CommonForm 4 ↗
Charles E. PhillipsDirector2026-03-31A62.6829918,750Derivative, Class A CommonForm 4 ↗
Daniel L. VasellaDirector2026-03-31A108.9329932,583Derivative, Class A CommonForm 4 ↗
Christopher D. YoungDirector2026-03-31A133.7229940,000Derivative, Class A CommonForm 4 ↗
Thomas J. BaltimoreDirector2026-03-31A121.1929936,250Derivative, Class A CommonForm 4 ↗
Lisa W. WardellDirector2026-03-31A125.3629937,500Derivative, Class A CommonForm 4 ↗
Noel WallaceDirector2026-03-31A121.1929936,250Derivative, Class A CommonForm 4 ↗
Michael J. AngelakisDirector2026-03-31A60.5929918,125Derivative, Class A CommonForm 4 ↗
Deborah P. MajorasDirector2026-03-31A60.5929918,125Derivative, Class A CommonForm 4 ↗
Dividend-equivalent accruals2026-05-05—8,905——12 insiders, 12 accrual rows
Glenda G. McNealChief Partner Officer2026-06-15D7,0333392,386,719CommonForm 4 ↗
Christopher D. YoungDirector2026-06-30A119.7533440,000Derivative, Class A CommonForm 4 ↗
John J. BrennanDirector2026-06-30A198.3333466,250Derivative, Class A CommonForm 4 ↗
Charles E. PhillipsDirector2026-06-30A56.1333418,750Derivative, Class A CommonForm 4 ↗
Lisa W. WardellDirector2026-06-30A112.2633437,500Derivative, Class A CommonForm 4 ↗
Thomas J. BaltimoreDirector2026-06-30A108.5233436,250Derivative, Class A CommonForm 4 ↗
Noel WallaceDirector2026-06-30A108.5233436,250Derivative, Class A CommonForm 4 ↗
Michael J. AngelakisDirector2026-06-30A54.2633418,125Derivative, Class A CommonForm 4 ↗
Deborah P. MajorasDirector2026-06-30A54.2633418,125Derivative, Class A CommonForm 4 ↗
Monique HerenaChief Colleague Exp. Officer2026-08-18D8,8113372,972,920CommonForm 4 ↗
AMERICAN EXPRESS CODirector2026-09-29D5,637,394——Derivative, Class A CommonForm 4 ↗
AMERICAN EXPRESS CODirector2026-09-29D157,786,199——CommonForm 4 ↗
Lisa W. WardellDirector2026-09-30A120.131237,500Derivative, Class A CommonForm 4 ↗
Thomas J. BaltimoreDirector2026-09-30A116.0931236,250Derivative, Class A CommonForm 4 ↗
Noel WallaceDirector2026-09-30A116.0931236,250Derivative, Class A CommonForm 4 ↗
Michael J. AngelakisDirector2026-09-30A58.0531218,125Derivative, Class A CommonForm 4 ↗
Deborah P. MajorasDirector2026-09-30A58.0531218,125Derivative, Class A CommonForm 4 ↗
Christopher D. YoungDirector2026-09-30A128.131240,000Derivative, Class A CommonForm 4 ↗
Charles E. PhillipsDirector2026-09-30A60.0531218,750Derivative, Class A CommonForm 4 ↗
John J. BrennanDirector2026-09-30A212.1731266,250Derivative, Class A CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

View all 41 transactions
InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
John J. BrennanDirector2026-03-31A221.48$299$66,250Derivative, Class A CommonForm 4 ↗
Charles E. PhillipsDirector2026-03-31A62.6829918,750Derivative, Class A CommonForm 4 ↗
Daniel L. VasellaDirector2026-03-31A108.9329932,583Derivative, Class A CommonForm 4 ↗
Christopher D. YoungDirector2026-03-31A133.7229940,000Derivative, Class A CommonForm 4 ↗
Thomas J. BaltimoreDirector2026-03-31A121.1929936,250Derivative, Class A CommonForm 4 ↗
Lisa W. WardellDirector2026-03-31A125.3629937,500Derivative, Class A CommonForm 4 ↗
Noel WallaceDirector2026-03-31A121.1929936,250Derivative, Class A CommonForm 4 ↗
Michael J. AngelakisDirector2026-03-31A60.5929918,125Derivative, Class A CommonForm 4 ↗
Deborah P. MajorasDirector2026-03-31A60.5929918,125Derivative, Class A CommonForm 4 ↗
Charles E. PhillipsDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
John J. BrennanDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Theodore J. LeonsisDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Karen L. ParkhillDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Lynn A. PikeDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Randal K. QuarlesDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Christopher D. YoungDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Thomas J. BaltimoreDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Lisa W. WardellDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Noel WallaceDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Michael J. AngelakisDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Deborah P. MajorasDirector2026-05-05A742.1200Derivative, Class A CommonForm 4 ↗
Glenda G. McNealChief Partner Officer2026-06-15D7,0333392,386,719CommonForm 4 ↗
Christopher D. YoungDirector2026-06-30A119.7533440,000Derivative, Class A CommonForm 4 ↗
John J. BrennanDirector2026-06-30A198.3333466,250Derivative, Class A CommonForm 4 ↗
Charles E. PhillipsDirector2026-06-30A56.1333418,750Derivative, Class A CommonForm 4 ↗
Lisa W. WardellDirector2026-06-30A112.2633437,500Derivative, Class A CommonForm 4 ↗
Thomas J. BaltimoreDirector2026-06-30A108.5233436,250Derivative, Class A CommonForm 4 ↗
Noel WallaceDirector2026-06-30A108.5233436,250Derivative, Class A CommonForm 4 ↗
Michael J. AngelakisDirector2026-06-30A54.2633418,125Derivative, Class A CommonForm 4 ↗
Deborah P. MajorasDirector2026-06-30A54.2633418,125Derivative, Class A CommonForm 4 ↗
Monique HerenaChief Colleague Exp. Officer2026-08-18D8,8113372,972,920CommonForm 4 ↗
AMERICAN EXPRESS CODirector2026-09-29D5,637,394——Derivative, Class A CommonForm 4 ↗
AMERICAN EXPRESS CODirector2026-09-29D157,786,199——CommonForm 4 ↗
Lisa W. WardellDirector2026-09-30A120.131237,500Derivative, Class A CommonForm 4 ↗
Thomas J. BaltimoreDirector2026-09-30A116.0931236,250Derivative, Class A CommonForm 4 ↗
Noel WallaceDirector2026-09-30A116.0931236,250Derivative, Class A CommonForm 4 ↗
Michael J. AngelakisDirector2026-09-30A58.0531218,125Derivative, Class A CommonForm 4 ↗
Deborah P. MajorasDirector2026-09-30A58.0531218,125Derivative, Class A CommonForm 4 ↗
Christopher D. YoungDirector2026-09-30A128.131240,000Derivative, Class A CommonForm 4 ↗
Charles E. PhillipsDirector2026-09-30A60.0531218,750Derivative, Class A CommonForm 4 ↗
John J. BrennanDirector2026-09-30A212.1731266,250Derivative, Class A CommonForm 4 ↗
03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Stephen SqueriPSU2025-01-29—45,120——$5,399,962
Douglas BuckminsterPSU2025-01-29—158——49,810
Howard GrosfieldPSU2025-01-29—9,525——1,139,952
Douglas BuckminsterPSU2025-01-29—11,530——1,379,910
Christophe Le CaillecPSU2025-01-29—9,525——1,139,952
Howard GrosfieldPSU2025-01-29014,464—17,3564,957,970
Christophe Le CaillecPSU2025-01-29014,464—17,3564,957,970
Stephen SqueriPSU2025-01-29068,517—82,22023,486,257
Raymond JoabarPSU2025-01-29014,718—17,6615,045,036
Douglas BuckminsterPSU2025-01-29017,509—21,0106,001,735
Raymond JoabarPSU2025-01-29—9,692——1,159,939
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Stephen Squeri$0$28,886,219$0100.0%
Douglas Buckminster07,431,4550100.0%
Howard Grosfield06,097,9220100.0%
Christophe Le Caillec06,097,9220100.0%
Raymond Joabar06,204,9750100.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Raymond JoabarOption9,692315.25—
Howard GrosfieldOption9,525315.25—
Stephen SqueriOption9,525315.25—
Howard GrosfieldOption17,465148.45—
Raymond JoabarOption13,698200.74—
Stephen SqueriOption74,850148.45—
Douglas BuckminsterOption22,988173.61—
Raymond JoabarOption14,659173.61—
Stephen SqueriOption64,849200.74—
Stephen SqueriOption74,129173.61—
Raymond JoabarOption22,455148.45—
Stephen SqueriOption12,824200.74—
Douglas BuckminsterOption20,110200.74—
Douglas BuckminsterOption11,530315.25—
Stephen SqueriOption45,120315.25—
Howard GrosfieldOption11,949200.74—
05

Incentive-plan design — the Compensation Discussion & Analysis

The executive compensation program has been designed to drive strong business performance and to align executive compensation with long-term shareholder interests. A large portion of total compensation of our NEOs is at risk and directly tied to Company and individual performance.

CEO STI target (% of salary)357%
CEO LTI target (% of salary)—
Independent consultantSemler Brossy
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-05514,533,90036,826,1604,424,71893.32%Passed
20252025-04-29523,065,12939,779,8464,727,28792.93%Passed
20242024-05-06546,973,93628,278,4395,162,19694.24%Passed
20232023-05-02324,057,946274,233,9667,722,01554.16%Passed
20222022-05-03566,462,10925,952,6993,564,21295.62%Passed
20212021-05-04632,953,98230,684,9311,773,95995.38%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-0593.32%a
20252025-04-2992.93%b
20242024-05-0694.24%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered as votes cast and will have no effect on the outcome of the vote on any of the proposals.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered as votes cast and will have no effect on the outcome of the vote on any of the proposals.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes are not considered as votes cast and will have no effect on the outcome of the vote on any of the proposals, with the exception of the proposal to approve the Second Amended and Restated American Express Company 2016 Incentive Compensation Plan.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)814 : 1
CEO total compensation$46,239,805
Median employee compensation$56,827
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Lynn A. PikeIndependent · Compensation and Benefits (Chair)$137,445$240,000$0$0$270,296$647,741
John J. BrennanIndependent · Lead Independent Director · Audit and Compliance (Chair) · Compensation and Benefits189,190315,0000085,601589,790
Daniel L. VasellaIndependent · Compensation and Benefits · Nominating, Governance and Public Responsibility140,000240,00000141,828521,828
Theodore J. LeonsisIndependent · Compensation and Benefits · Nominating, Governance and Public Responsibility140,000240,00000130,287510,287
Christopher D. YoungIndependent · Nominating, Governance and Public Responsibility (Chair) · Risk160,000240,0000060,172460,172
Thomas J. BaltimoreIndependent · Audit and Compliance · Compensation and Benefits134,711240,0000082,326457,037
Deborah P. MajorasIndependent · Nominating, Governance and Public Responsibility · Risk145,000240,0000066,629451,629
Karen L. ParkhillIndependent · Audit and Compliance · Risk (Chair)170,000240,0000035,296445,296
Lisa W. WardellIndependent · Audit and Compliance · Risk150,000240,0000027,267417,267
Charles E. PhillipsIndependent · Audit and Compliance · Risk149,190240,0000027,878417,068
Michael J. AngelakisIndependent · Audit and Compliance · Nominating, Governance and Public Responsibility · Newly elected120,302240,000001,699362,001
Randal K. QuarlesIndependent · Nominating, Governance and Public Responsibility · Risk · Newly elected63,8320002663,858
Noel WallaceIndependent · Audit and Compliance · Compensation and Benefits · Newly elected63,8320002663,858
Walter J. Clayton IIIIndependent · Departed during FY43,36500016,10959,474
Stephen J. SqueriEmployee director · Board Chair000000
09

Board fee structure and ownership guideline

Annual cash retainer$110,000
Annual equity retainer$240,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)40,000 / 30,000 / 30,000
Stock ownership guideline$1,000,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,806,867
Equity awards (grant-date value)$2,715,000
All other compensation$945,440
Total cost of the board$5,467,307

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies AMERICAN EXPRESS CO names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including AMERICAN EXPRESS CO.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Goldman Sachs2025David Solomon$2,000,000$101,177,384$0$0$118,135,674
2Citigroup2025Jane Fraser1,500,00059,570,80028,600,000095,757,800
3Wells Fargo2025Charles Scharf2,500,00051,938,27829,988,820094,522,642
4BNY2025Robin Vince1,300,00047,440,14125,000,0049,510,00083,472,970
5Capital One Financial2025Richard Fairbank058,127,0290064,971,137
6Adobe2025Shantanu Narayen1,500,00045,376,11003,120,00051,173,935
7Salesforce2026Marc Benioff1,550,00027,265,36010,743,0973,602,58849,379,252
8AMERICAN EXPRESS CO2025Stephen Squeri1,729,16723,486,2575,399,962046,239,805
9JPMorgan Chase2025James Dimon1,500,00032,500,000——40,632,724
10IBM2025Arvind Krishna1,500,00023,988,5866,606,3125,250,00037,989,685
11BlackRock2025Laurence Fink1,500,00024,600,1840037,749,569
12Morgan Stanley2025Edward Pick1,500,00024,476,4630037,187,657
13Nike2026Elliott Hill1,500,00028,137,7983,967,1132,220,00036,340,876
14Uber2025Dara Khosrowshahi1,083,33323,746,0987,373,1892,838,66035,595,826
15Mastercard2025Michael Miebach1,375,00020,711,4564,950,0097,957,95035,422,518
16Verizon2025Daniel Schulman375,00032,774,7950937,50034,311,016
17Bank of America2025Brian Moynihan1,500,00030,666,7470033,711,521
18Visa2025Ryan McInerney1,505,78218,723,3065,687,5095,250,00031,560,660
19Starbucks2025Brian Niccol1,599,99819,881,58501,971,00030,992,773
20PayPal2025Alex Chriss1,325,34223,365,2940025,243,486
21PepsiCo2025Ramon Laguarta1,804,61511,550,00805,771,00023,903,545
22U.S. Bancorp2025Gunjan Kedia1,141,66711,499,99603,232,26716,674,515

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
AMERICAN EXPRESS CO181%PSU 100Yes — 3-year TSR compared to LTIA Performance Peer GroupSemler Brossy
Adobe104%PSU 70 · RSU 30YesCompensia, Inc.
Bank of Americanot disclosednot disclosedNoSemler Brossy
BlackRocknot disclosedPSU 74 · RSU 26NoSemler Brossy
BNYnot disclosedPSU 75 · RSU 25Yes — TSR percentile vs. Relative Peer GroupMeridian
Capital One Financialnot disclosedPSU 62 · RSU 21 · Cash LTI 17Yes — Total Shareholder Return (TSR)FW Cook
Citigroupnot disclosedPSU 50 · RSU 50Yes — TSRFW Cook
Goldman Sachsnot disclosednot disclosedNoFrederic W. Cook & Co., Inc. (FW Cook)
IBM150%not disclosedYes — Relative Total Shareholder Return (rTSR)Semler Brossy
JPMorgan Chasenot disclosedcash 40 · PSU 30 · RSU 30Nonot disclosed
Mastercard227%PSU 60 · RSU 20 · Options 20NoFW Cook
Morgan Stanleynot disclosedPSU 100NoSemler Brossy
Nike74%PSU 50 · Option 25 · RSU 25Yes — Relative TSRnot disclosed
PayPal98%PSU 50 · RSU 50Yes — rTSR vs S&P 500Compensia
PepsiConot disclosednot disclosedYes — Relative TSR PerformanceFW Cook
Salesforce103.3%PSU 67 · Options 33Yes — Relative TSRSemler Brossy
Starbucksnot disclosedPSU 60 · RSU 40Yes — Relative TSRPay Governance
U.S. Bancorpnot disclosedPRSU 60 · RSU 40NoMeridian Compensation Partners, LLC
Uber129.03%not disclosedYes — Relative TSRSemler Brossy Consulting Group
Verizon100%PSU 60 · RSU 40Yes — relative total shareholder return (TSR) position compared with the companies in the S&P 100Meridian Compensation Partners, LLC
Visa140%PSU 50 · RSU 25 · Options 25Yes — Relative TSR vs. S&P 500Meridian
Wells Fargonot disclosedPSU 65 · RSU 35Yes — Relative TSRMeridian Compensation Partners

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at AMERICAN EXPRESS CO in fiscal 2025?
As disclosed, Stephen Squeri (Chairman and Chief Executive Officer) was the highest-paid executive at AMERICAN EXPRESS CO in fiscal 2025, with total compensation of $46,239,805.
How does AMERICAN EXPRESS CO's chief executive pay compare to its disclosed peer group?
As disclosed, Stephen Squeri's total compensation ranked at the 67th percentile of AMERICAN EXPRESS CO's disclosed peer group.
What is AMERICAN EXPRESS CO's CEO-to-median employee pay ratio?
As disclosed, AMERICAN EXPRESS CO's CEO-to-median employee pay ratio was 814:1.
How did shareholders vote on AMERICAN EXPRESS CO's executive compensation?
As disclosed, 93.32% of shareholders supported AMERICAN EXPRESS CO's executive compensation in the latest say-on-pay vote.
How much does AMERICAN EXPRESS CO spend in total on board compensation for fiscal 2025?
As disclosed, AMERICAN EXPRESS CO reported total board compensation of $5,467,307 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Stephen SqueriDEF 14A2026-03-250001104659-26-034163Section “Summary Compensation Table” · page 72. As printed: 46,239,805. Filing ↗machine: span 2098186–2098196
2Section 01, Douglas BuckminsterDEF 14A2026-03-250001104659-26-034163Section “Summary Compensation Table” · page 72. As printed: 15,575,770. Filing ↗machine: span 2135928–2135938
3Section 01, Christophe Le CaillecDEF 14A2026-03-250001104659-26-034163Section “Summary Compensation Table” · page 72. As printed: 13,090,458. Filing ↗machine: t221 · r4 · c48 · span 2117065–2117075
4Section 01, Howard GrosfieldDEF 14A2026-03-250001104659-26-034163Section “Summary Compensation Table” · page 72. As printed: 13,077,645. Filing ↗machine: span 2154420–2154430
5Section 01, Raymond JoabarDEF 14A2026-03-250001104659-26-034163Section “Summary Compensation Table” · page 72. As printed: 12,582,817. Filing ↗machine: span 2160923–2160933
6Section 03, Stephen Squeri PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2201375–2201384
7Section 03, Douglas Buckminster PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2257043–2257049
8Section 03, Howard Grosfield PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
9Section 03, Douglas Buckminster PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
10Section 03, Christophe Le Caillec PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
11Section 03, Howard Grosfield PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2288833–2288842
12Section 03, Christophe Le Caillec PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2233172–2233181
13Section 03, Stephen Squeri PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2209190–2209200
14Section 03, Raymond Joabar PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2310557–2310566
15Section 03, Douglas Buckminster PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 2264854–2264863
16Section 03, Raymond Joabar PSUDEF 14A1900-01-010001104659-26-034163Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
17Section 07, pay ratioDEF 14A2026-03-250001104659-26-034163Section “CEO Pay Ratio”. As printed: 814 : 1. Filing ↗machine: span 2973832–2973835
18Section 08, Lynn A. PikeDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 647,741. Filing ↗machine: t137 · r9 · c24 · span 1247208–1247215
19Section 08, John J. BrennanDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 589,790. Filing ↗machine: t137 · r3 · c24 · span 1226136–1226143
20Section 08, Daniel L. VasellaDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 521,828. Filing ↗machine: t137 · r11 · c24 · span 1254226–1254233
21Section 08, Theodore J. LeonsisDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 510,287. Filing ↗machine: t137 · r5 · c24 · span 1233314–1233321
22Section 08, Christopher D. YoungDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 460,172. Filing ↗machine: t137 · r14 · c24 · span 1264694–1264701
23Section 08, Thomas J. BaltimoreDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 457,037. Filing ↗machine: t137 · r2 · c24 · span 1222666–1222673
24Section 08, Deborah P. MajorasDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 451,629. Filing ↗machine: t137 · r6 · c24 · span 1236789–1236796
25Section 08, Karen L. ParkhillDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 445,296. Filing ↗machine: t137 · r7 · c24 · span 1240262–1240269
26Section 08, Lisa W. WardellDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 417,267. Filing ↗machine: t137 · r13 · c24 · span 1261236–1261243
27Section 08, Charles E. PhillipsDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 417,068. Filing ↗machine: t137 · r8 · c24 · span 1243738–1243745
28Section 08, Michael J. AngelakisDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 362,001. Filing ↗machine: t137 · r1 · c24 · span 1219192–1219199
29Section 08, Randal K. QuarlesDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 63,858. Filing ↗machine: t137 · r10 · c24 · span 1250753–1250759
30Section 08, Noel WallaceDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 63,858. Filing ↗machine: t137 · r12 · c24 · span 1257766–1257772
31Section 08, Walter J. Clayton IIIDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 59,474. Filing ↗machine: t137 · r4 · c24 · span 1229839–1229845
32Section 08, Stephen J. SqueriDEF 14A2026-03-250001104659-26-034163Section “Director Compensation”. As printed: 0. Filing ↗
33Section 02, John J. Brennan 2026-03-31Form 42026-04-020000004962-26-000136Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Charles E. Phillips 2026-03-31Form 42026-04-020000004962-26-000138Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Daniel L. Vasella 2026-03-31Form 42026-04-020000004962-26-000139Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Christopher D. Young 2026-03-31Form 42026-04-020000004962-26-000141Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Thomas J. Baltimore 2026-03-31Form 42026-04-020000004962-26-000135Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Lisa W. Wardell 2026-03-31Form 42026-04-020000004962-26-000140Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Noel Wallace 2026-03-31Form 42026-04-060000004962-26-000143Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Michael J. Angelakis 2026-03-31Form 42026-04-020000004962-26-000133Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Deborah P. Majoras 2026-03-31Form 42026-04-020000004962-26-000137Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Charles E. Phillips 2026-05-05Form 42026-05-070000004962-26-000232Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, John J. Brennan 2026-05-05Form 42026-05-070000004962-26-000226Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Theodore J. Leonsis 2026-05-05Form 42026-05-070000004962-26-000227Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Karen L. Parkhill 2026-05-05Form 42026-05-070000004962-26-000230Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Lynn A. Pike 2026-05-05Form 42026-05-070000004962-26-000233Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Randal K. Quarles 2026-05-05Form 42026-05-070000004962-26-000234Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Christopher D. Young 2026-05-05Form 42026-05-070000004962-26-000237Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Thomas J. Baltimore 2026-05-05Form 42026-05-070000004962-26-000225Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Lisa W. Wardell 2026-05-05Form 42026-05-070000004962-26-000236Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Noel Wallace 2026-05-05Form 42026-05-070000004962-26-000235Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Michael J. Angelakis 2026-05-05Form 42026-05-070000004962-26-000224Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Deborah P. Majoras 2026-05-05Form 42026-05-070000004962-26-000228Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Glenda G. McNeal 2026-06-15Form 42026-06-170000004962-26-000273Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Christopher D. Young 2026-06-30Form 42026-07-020000004962-26-000299Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, John J. Brennan 2026-06-30Form 42026-07-020000004962-26-000294Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Charles E. Phillips 2026-06-30Form 42026-07-020000004962-26-000296Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Lisa W. Wardell 2026-06-30Form 42026-07-020000004962-26-000298Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Thomas J. Baltimore 2026-06-30Form 42026-07-020000004962-26-000293Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Noel Wallace 2026-06-30Form 42026-07-020000004962-26-000297Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Michael J. Angelakis 2026-06-30Form 42026-07-020000004962-26-000292Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Deborah P. Majoras 2026-06-30Form 42026-07-020000004962-26-000295Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Monique Herena 2026-08-18Form 42026-08-190000004962-26-000348Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, AMERICAN EXPRESS CO 2026-09-29Form 42026-10-010000004962-26-000357Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, AMERICAN EXPRESS CO 2026-09-29Form 42026-10-010000004962-26-000357Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Lisa W. Wardell 2026-09-30Form 42026-10-020000004962-26-000373Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Thomas J. Baltimore 2026-09-30Form 42026-10-020000004962-26-000368Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Noel Wallace 2026-09-30Form 42026-10-020000004962-26-000372Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Michael J. Angelakis 2026-09-30Form 42026-10-020000004962-26-000366Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Deborah P. Majoras 2026-09-30Form 42026-10-020000004962-26-000370Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Christopher D. Young 2026-09-30Form 42026-10-020000004962-26-000374Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Charles E. Phillips 2026-09-30Form 42026-10-020000004962-26-000371Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, John J. Brennan 2026-09-30Form 42026-10-020000004962-26-000369Insider equity transaction reported since the proxy statement. Filing ↗
74Section 06, 2026 voteForm 8-K2026-05-070000004962-26-000231Item 5.07 · say-on-pay result. As reported: 93.32% (votes for as printed: 514,533,900). Filing ↗
75Section 06, 2025 voteForm 8-K2025-05-010000004962-25-000050Item 5.07 · say-on-pay result. As reported: 92.93% (votes for as printed: 523,065,129). Filing ↗
76Section 06, 2024 voteForm 8-K2024-05-080000004962-24-000038Item 5.07 · say-on-pay result. As reported: 94.24% (votes for as printed: 546,973,936). Filing ↗
77Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
78Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
79Section 09b board cost (computed)Computed——Cash 1,806,867 + equity 2,715,000 + all other 945,440 = 5,467,307, summed across the director compensation table rows.machine: formula: Σ = 5,467,307
80Goldman Sachs, Section 10b CEO totalDEF 14A2026-03-200001193125-26-117433CEO total compensation as printed in Goldman Sachs's own proxy. As printed: 118,135,674. Filing ↗machine: t209 · span 2465661–2465672
81Citigroup, Section 10b CEO totalDEF 14A2026-04-020001206774-26-000185CEO total compensation as printed in Citigroup's own proxy. As printed: 95,757,800. Filing ↗machine: t303 · r1 · c9 · span 1389939–1389949
82Wells Fargo, Section 10b CEO totalDEF 14A2026-03-180000072971-26-000200CEO total compensation as printed in Wells Fargo's own proxy. As printed: 94,522,642. Filing ↗machine: r3 · c24 · span 1599000–1599010
83BNY, Section 10b CEO totalDEF 14A2026-03-050001193125-26-092500CEO total compensation as printed in BNY's own proxy. As printed: 83,472,970. Filing ↗machine: t239 · r3 · c34 · span 1121523–1121533
84Capital One Financial, Section 10b CEO totalDEF 14A2026-03-250001193125-26-124131CEO total compensation as printed in Capital One Financial's own proxy. As printed: 64,971,137. Filing ↗machine: t570 · r3 · c16 · span 1580979–1580990
85Adobe, Section 10b CEO totalDEF 14A2026-02-270000796343-26-000043CEO total compensation as printed in Adobe's own proxy. As printed: 51,173,935. Filing ↗machine: r3 · c51 · span 923759–923769
86Salesforce, Section 10b CEO totalDEF 14A2026-04-160001108524-26-000085CEO total compensation as printed in Salesforce's own proxy. As printed: 49,379,252. Filing ↗machine: r4 · c24 · span 1710833–1710843
87AMERICAN EXPRESS CO (subject), Section 10b CEO totalDEF 14A2026-03-250001104659-26-034163CEO total compensation as printed in AMERICAN EXPRESS CO's own proxy. As printed: 46,239,805. Filing ↗machine: span 2098186–2098196
88JPMorgan Chase, Section 10b CEO totalDEF 14A2026-04-060000019617-26-000096CEO total compensation as printed in JPMorgan Chase's own proxy. As printed: 40,632,724. Filing ↗machine: span 1754306–1754316
89IBM, Section 10b CEO totalDEF 14A2026-03-100000051143-26-000025CEO total compensation as printed in IBM's own proxy. As printed: 37,989,685. Filing ↗machine: r11 · c51 · span 1119293–1119303
90BlackRock, Section 10b CEO totalDEF 14A2026-04-100001308179-26-000262CEO total compensation as printed in BlackRock's own proxy. As printed: 37,749,569. Filing ↗machine: span 1984856–1984866
91Morgan Stanley, Section 10b CEO totalDEF 14A2026-04-020001140361-26-012975CEO total compensation as printed in Morgan Stanley's own proxy. As printed: 37,187,657. Filing ↗machine: t623 · r2 · c22 · span 1563319–1563329
92Nike, Section 10b CEO totalDEF 14A2026-07-150000320187-26-000089CEO total compensation as printed in Nike's own proxy. As printed: 36,340,876. Filing ↗machine: r2 · c24 · span 647557–647567
93Uber, Section 10b CEO totalDEF 14A2026-04-200001308179-26-000303CEO total compensation as printed in Uber's own proxy. As printed: 35,595,826. Filing ↗machine: r2 · c28 · span 883016–883026
94Mastercard, Section 10b CEO totalDEF 14A2026-04-270001141391-26-000021CEO total compensation as printed in Mastercard's own proxy. As printed: 35,422,518. Filing ↗machine: r3 · c54 · span 1446723–1446733
95Verizon, Section 10b CEO totalDEF 14A2026-04-060001308179-26-000210CEO total compensation as printed in Verizon's own proxy. As printed: 34,311,016. Filing ↗machine: t26 · r1 · c16 · span 239072–239082
96Bank of America, Section 10b CEO totalDEF 14A2026-03-230001193125-26-118929CEO total compensation as printed in Bank of America's own proxy. As printed: 33,711,521. Filing ↗machine: r3 · c39 · span 1377520–1377530
97Visa, Section 10b CEO totalDEF 14A2025-12-080001308179-25-000635CEO total compensation as printed in Visa's own proxy. As printed: 31,560,660. Filing ↗machine: t249 · span 1369402–1369412
98Starbucks, Section 10b CEO totalDEF 14A2026-01-260001213900-26-007780CEO total compensation as printed in Starbucks's own proxy. As printed: 30,992,773. Filing ↗
99PayPal, Section 10b CEO totalDEF 14A2026-04-070001193125-26-145721CEO total compensation as printed in PayPal's own proxy. As printed: 25,243,486. Filing ↗machine: t411 · r4 · c27 · span 1387299–1387309
100PepsiCo, Section 10b CEO totalDEF 14A2026-03-270001308179-26-000169CEO total compensation as printed in PepsiCo's own proxy. As printed: 23,903,545. Filing ↗machine: r2 · c20 · span 826280–826290
101U.S. Bancorp, Section 10b CEO totalDEF 14A2026-03-100001104659-26-025844CEO total compensation as printed in U.S. Bancorp's own proxy. As printed: 16,674,515. Filing ↗machine: r1 · c42 · span 1202461–1202471
102Section 10a, Salesforce reciprocityDEF 14A—0001108524-26-000085Salesforce's most recent proxy was read; its disclosed peer group does not include AMERICAN EXPRESS CO. Filing ↗
103Section 10a, BNY reciprocityDEF 14A—0001193125-26-092500BNY's most recent proxy was read; its disclosed peer group does not include AMERICAN EXPRESS CO. Filing ↗
104Section 10a, BlackRock reciprocityDEF 14A—0001308179-26-000262BlackRock names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
105Section 10a, Citigroup reciprocityDEF 14A—0001206774-26-000185Citigroup names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
106Section 10a, Goldman Sachs reciprocityDEF 14A—0001193125-26-117433Goldman Sachs's most recent proxy was read; its disclosed peer group does not include AMERICAN EXPRESS CO. Filing ↗
107Section 10a, Wells Fargo reciprocityDEF 14A—0000072971-26-000200Wells Fargo names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
108Section 10a, Starbucks reciprocityDEF 14A—0001213900-26-007780Starbucks names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
109Section 10a, PayPal reciprocityDEF 14A—0001193125-26-145721PayPal names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
110Section 10a, Visa reciprocityDEF 14A—0001308179-25-000635Visa names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
111Section 10a, Capital One Financial reciprocityDEF 14A—0001193125-26-124131Capital One Financial names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
112Section 10a, Nike reciprocityDEF 14A—0000320187-26-000089Nike's most recent proxy was read; its disclosed peer group does not include AMERICAN EXPRESS CO. Filing ↗
113Section 10a, Bank of America reciprocityDEF 14A—0001193125-26-118929Bank of America names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
114Section 10a, Uber reciprocityDEF 14A—0001308179-26-000303Uber's most recent proxy was read; its disclosed peer group does not include AMERICAN EXPRESS CO. Filing ↗
115Section 10a, Mastercard reciprocityDEF 14A—0001141391-26-000021Mastercard names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
116Section 10a, Morgan Stanley reciprocityDEF 14A—0001140361-26-012975Morgan Stanley names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
117Section 10a, Verizon reciprocityDEF 14A—0001308179-26-000210Verizon names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗
118Section 10a, IBM reciprocityDEF 14A—0000051143-26-000025IBM's most recent proxy was read; its disclosed peer group does not include AMERICAN EXPRESS CO. Filing ↗
119Section 10a, U.S. Bancorp reciprocityDEF 14A—0001104659-26-025844U.S. Bancorp's most recent proxy was read; its disclosed peer group does not include AMERICAN EXPRESS CO. Filing ↗
120Section 10a, JPMorgan Chase reciprocityDEF 14A—0000019617-26-000096JPMorgan Chase names AMERICAN EXPRESS CO in its own disclosed peer group (read from its most recent proxy). Filing ↗

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