AAT director receives 3,843-share stock grant

SULLIVAN ROBERT S reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

SULLIVAN ROBERT S reported acquisition or exercise transactions in this Form 4 filing.

American Assets Trust, Inc. director Robert S. Sullivan received a grant of 3,843 shares of restricted common stock on 2026-06-01. The award was issued at no cash cost to him under the company’s Amended and Restated 2011 Equity Incentive Award Plan. Following this compensation grant, he directly holds 30,350 shares of common stock.

Insider Trade Summary

Grant/Award: 3,843 shares

Grant/Award 1 txn

Insider SULLIVAN ROBERT S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.01	3,843	$0.00	$0.00

Holdings After Transaction: Common Stock, par value $0.01 — 30,350 shares (Direct)

Footnotes (1)

1. F1. Shares of restricted common stock issued to the Reporting Person as a non-employee director pursuant to the American Assets Trust, Inc. and American Assets Trust, L.P. Amended and Restated 2011 Equity Incentive Award Plan.

Key Figures

Restricted stock grant: 3,843 shares Grant price: $0.00 per share Post-transaction holdings: 30,350 shares +1 more

4 metrics

Restricted stock grant 3,843 shares Award to director on 2026-06-01

Grant price $0.00 per share Compensation grant, not market purchase

Post-transaction holdings 30,350 shares Director’s direct AAT common stock after grant

Transaction code A (grant/award acquisition) Non-derivative Form 4 transaction classification

Key Terms

restricted common stock, Amended and Restated 2011 Equity Incentive Award Plan, non-employee director

3 terms

restricted common stock financial

"Shares of restricted common stock issued to the Reporting Person as a non-employee director"

Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.

Amended and Restated 2011 Equity Incentive Award Plan financial

"pursuant to the American Assets Trust, Inc. and American Assets Trust, L.P. Amended and Restated 2011 Equity Incentive Award Plan"

non-employee director financial

"issued to the Reporting Person as a non-employee director pursuant to the ... Equity Incentive Award Plan"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did American Assets Trust (AAT) report for Robert S. Sullivan?

American Assets Trust reported that director Robert S. Sullivan received 3,843 shares of restricted common stock as a compensation grant. The shares were issued at no cash cost to him under the company’s Amended and Restated 2011 Equity Incentive Award Plan.

Was the AAT Form 4 transaction a market purchase or a stock grant?

The AAT Form 4 transaction was a stock grant, not a market purchase. Robert S. Sullivan received 3,843 restricted common shares at a price of $0.00 per share as director compensation under the company’s equity incentive plan.

How many AAT shares does Robert S. Sullivan hold after this Form 4 transaction?

After this Form 4 transaction, Robert S. Sullivan directly holds 30,350 shares of American Assets Trust common stock. This total includes the new 3,843-share restricted stock grant awarded under the company’s Amended and Restated 2011 Equity Incentive Award Plan.

What plan governed the restricted stock grant reported by AAT for Robert S. Sullivan?

The restricted stock grant to Robert S. Sullivan was issued under the American Assets Trust, Inc. and American Assets Trust, L.P. Amended and Restated 2011 Equity Incentive Award Plan. This plan provides equity-based compensation, including restricted common stock, to eligible participants.

What is the significance of the $0.00 price on the AAT Form 4 grant?

The $0.00 price indicates the 3,843 restricted shares were granted as compensation, not purchased in the open market. Sullivan did not pay cash for the shares, which were awarded under American Assets Trust’s Amended and Restated 2011 Equity Incentive Award Plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/01/2026 - 06:11 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SULLIVAN ROBERT S

(Last) (First) (Middle)

C/O AMERICAN ASSETS TRUST, INC.

3420 CARMEL MOUNTAIN ROAD, SUITE 100

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
American Assets Trust, Inc. [ AAT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01	06/01/2026		A		3,843(1)	A	$0	30,350	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares of restricted common stock issued to the Reporting Person as a non-employee director pursuant to the American Assets Trust, Inc. and American Assets Trust, L.P. Amended and Restated 2011 Equity Incentive Award Plan.

Remarks:

	/s/ Meleana Leaverton, Attorney-in-fact	06/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)