Amex chief legal officer Laureen Seeger sells $22.9M in stock

Laureen Seeger, American Express Co's Chief Legal Officer, sold a substantial 69,860 shares of the company’s stock on November 2, 2026, for approximately $22.9 million. She executed this sale at an average price of $328.17 per share, with individual shares exchanged between $327.60 and $328.51. As of the sale, the stock's market price stood at $320.99, which InvestingPro analysts consider the company to be undervalued in comparison to its intrinsic value.

In a surprising move, Seeger simultaneously purchased 69,860 shares of American Express common stock through the exercise of employee stock options. The cost of these shares amounted to roughly $10.37 million, acquired at an exercise price of $148.45 per share. This acquisition occurred alongside her sale and took place on November 2, 2026.

These transactions coincided with the vesting of 17,465 performance stock options on October 31, 2026. These options constituted the final 25% of an award granted in October 2022, contingent upon meeting performance criteria and maintaining employment. Post-transaction, Seeger personally holds 9,002.033 shares of American Express stock, inclusive of shares acquired through dividend reinvestment.

The company, boasting a market capitalization of $217.9 billion and a P/E ratio of 18.14, has a remarkable track record of paying dividends for 56 consecutive years, as reported by InvestingPro Tips. Prospective investors can delve into AXP's detailed Pro Research Report for comprehensive insights. Recent earnings reports from American Express showcase the company's financial strength and strategic planning.

The third-quarter 2026 earnings exceeded expectations, with earnings per share at $5.42, surpassing the projected $4.58. Nevertheless, despite reporting a record revenue of $20.1 billion, the figure was slightly below estimates. In response, American Express has revised its annual earnings guidance, demonstrating optimism regarding future performance.

Additionally, the company has bolstered its financial position by issuing $3 billion in new debt securities, encompassing various maturities. This issuance includes $1.5 billion in Fixed-to-Floating Rate Notes with a maturity date of 2030, $1.15 billion in Fixed-to-Floating Rate Notes maturing in 2034, and $350 million in Floating Rate Notes also due in 2030.

These notes were issued under a senior indenture in partnership with The Bank of New York Mellon. These strategic financial decisions underscore American Express's proactive approach to managing its capital structure. This account is an AI-supported summary reviewed by an editor for accuracy.