AMERICAN EXPRESS CO
For the period ended May 6, 2024. Filed Mar 15, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 6, 2024 · Filed Mar 15, 2024
Contents
Section 3: Compensation Programs
The following table summarizes the key elements of our executive compensation program and demonstrates the program’s focus on annual and long-term incentive compensation that is closely aligned with Company performance and is sensitive to the Company’s stock performance. The Compensation and Benefits Committee periodically reviews executive compensation and may recommend adjustments driven by market data, performance and situations where there is a change in responsibility:
| Form of Payment | PerformancePeriod | Description of Compensation Component | For MoreInformation | |||||
| Base Salary | Cash | Ongoing | ¾ The fixed portion of total direct compensation ¾ Ensure appropriate balance between external market practice and internal alignment for executives with a comparable scope of responsibilities | Page 58 | ||||
|---|---|---|---|---|---|---|---|---|
| AnnualIncentiveAward(AIA) | Cash | One year | ¾ Annual cash-denominated performance-based component of executive compensation, designed to recognize Company performance and individual performance ¾ Determined against a balanced set of goals across shareholder, customer, colleague and strategic categories as well as execution and risk management factors, approved by the Compensation and Benefits Committee | Page 58 | ||||
| Long-TermIncentiveAward(LTIA) | 80% PerformanceRestricted StockUnits (PRSUs) | Three years | ¾ Align incentives with shareholder interests and the Company’s long-term financial objectives ¾ Granted annually with a 3-year cliff vesting period ¾ Vesting of awards contingent on relative ROE and relative TSR performance versus a set of performance peers ¾ Dividends are accrued on the target number of shares and are paid out after vesting | Page 60 | ||||
| 20% Stock Options (SOs) | Three years | ¾ Align compensation earned with value shareholders receive over the same period of time, and thereby incentivizing strong sustained performance to maximize shareholder value creation ¾ Granted annually with a 3-year cliff vesting period and 10-year total term ¾ Awards vest subject to positive cumulative net income over the 3-year performance period | Page 60 | |||||
582024 PROXY STATEMENT
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