Executive chair adds 10K American Assets Trust (AAT) shares via trust

Rhea-AI Filing Summary

American Assets Trust, Inc. director and executive chairman Ernest S. Rady reported an indirect open-market purchase of 10,000 shares of common stock at $22.67 per share through the Ernest Rady Trust U/D/T March 10, 1983. Following this transaction, that trust holds 8,272,188 shares. Rady also reports additional direct and indirect holdings through his IRA and several controlled or trustee-managed entities, with beneficial ownership disclaimed except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 10,000 shares ($226,700)

Net Buy 7 txns

Insider RADY ERNEST S

Role Executive Chairman

Bought 10,000 shs ($227K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.01	10,000	$22.67	$227K
holding	Common Stock, par value $0.01	--	--	--
holding	Common Stock, par value $0.01	--	--	--
holding	Common Stock, par value $0.01	--	--	--
holding	Common Stock, par value $0.01	--	--	--
holding	Common Stock, par value $0.01	--	--	--
holding	Common Stock, par value $0.01	--	--	--

Holdings After Transaction: Common Stock, par value $0.01 — 8,272,188 shares (Indirect, By ERT); Common Stock, par value $0.01 — 66,680 shares (Direct, null)

Footnotes (1)

1. Represents shares held by Ernest Rady Trust U/D/T March 10, 1983 ("ERT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Represents shares held by American Assets, Inc. ("AAI"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Represents shares held by Insurance Company of the West ("ICW"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Represents shares held by Rady Foundation ("RF"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Represents shares held by Explorer Insurance Company ("EIC"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Represents shares held by Evelyn Shirley Rady Trust U/D/T March 10, 1983 ("ESRT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Represents shares held by Ernest Rady IRA.

Key Figures

Open-market purchase: 10,000 shares Purchase price: $22.67/share ERT holdings after trade: 8,272,188 shares +4 more

7 metrics

Open-market purchase 10,000 shares Common Stock at $22.67 per share by Ernest Rady Trust

Purchase price $22.67/share Price paid for 10,000 American Assets Trust common shares

ERT holdings after trade 8,272,188 shares Total American Assets Trust shares held by Ernest Rady Trust after purchase

Direct holdings 66,680 shares Common Stock directly owned by Ernest S. Rady

AAI indirect holdings 2,267,022 shares Shares held by American Assets, Inc., controlled by Rady

ICW indirect holdings 1,275,336 shares Shares held by Insurance Company of the West, controlled by Rady

Rady Foundation holdings 1,209,021 shares Shares held by Rady Foundation, controlled by Rady

Key Terms

open-market purchase, indirect, beneficial ownership, pecuniary interest, +1 more

5 terms

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

indirect financial

""ownership_type": "indirect""

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of such shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of his pecuniary interest therein"

trustee financial

"for which the Reporting Person is the trustee"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

Form 4 Insider Transactions: What Each Field Means →

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^*

RADY ERNEST 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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

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	05/22/2026		P		10,000	A	$22.67	8,272,188	I	By ERT(1)
Common Stock, par value $0.01								2,267,022	I	By AAI(2)
Common Stock, par value $0.01								1,275,336	I	By ICW(3)
Common Stock, par value $0.01								1,209,021	I	By RF(4)
Common Stock, par value $0.01								200,000	I	By EIC(5)
Common Stock, par value $0.01								102,859	I	By ESRT(6)
Common Stock, par value $0.01								66,680	D(7)

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. Represents shares held by Ernest Rady Trust U/D/T March 10, 1983 ("ERT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

2. Represents shares held by American Assets, Inc. ("AAI"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

3. Represents shares held by Insurance Company of the West ("ICW"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

4. Represents shares held by Rady Foundation ("RF"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

5. Represents shares held by Explorer Insurance Company ("EIC"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

6. Represents shares held by Evelyn Shirley Rady Trust U/D/T March 10, 1983 ("ESRT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

7. Represents shares held by Ernest Rady IRA.

Remarks:

	/s/ Meleana Leaverton, Attorney-in-fact	05/22/2026
	** 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)

FAQ

What insider transaction did American Assets Trust (AAT) disclose on this Form 4?

American Assets Trust reported an indirect open-market purchase of 10,000 common shares at $22.67 per share. The transaction was executed through the Ernest Rady Trust U/D/T March 10, 1983, associated with executive chairman and director Ernest S. Rady.

Who executed the 10,000-share purchase reported for American Assets Trust (AAT)?

The 10,000-share purchase was executed by the Ernest Rady Trust U/D/T March 10, 1983. Ernest S. Rady serves as trustee and reports the transaction as an indirect holding, while disclaiming beneficial ownership except for his pecuniary interest in the trust.

At what price were the new American Assets Trust (AAT) shares bought on this Form 4?

The Form 4 shows an open-market purchase of 10,000 American Assets Trust shares at $22.67 each. This price applies specifically to the shares acquired by the Ernest Rady Trust, rather than to Rady’s other direct or indirect holdings.

How many American Assets Trust (AAT) shares does the Ernest Rady Trust hold after the transaction?

After the reported purchase, the Ernest Rady Trust holds 8,272,188 shares of American Assets Trust common stock. Ernest S. Rady reports these shares as indirectly owned through the trust and disclaims beneficial ownership beyond his pecuniary interest.

What other indirect holdings in American Assets Trust (AAT) does Ernest S. Rady report?

Ernest S. Rady reports additional indirect holdings through American Assets, Inc., Insurance Company of the West, Rady Foundation, Explorer Insurance Company and the Evelyn Shirley Rady Trust, each separately listed, with beneficial ownership disclaimed except for his pecuniary interest.

Does Ernest S. Rady have direct holdings in American Assets Trust (AAT) on this Form 4?

Yes. The filing lists 66,680 shares of American Assets Trust common stock as directly owned. He also reports indirect holdings through his IRA and multiple trusts and controlled entities, each with separate share totals and footnote disclosures.