American Assets Trust chair buys 78,855 shares

American Assets Trust, Inc. Executive Chairman and 10% owner Ernest S. Rady reported indirect open-market purchases of company common stock through Ernest Rady Trust U/D/T March 10, 1983.

Rhea-AI Filing Summary

American Assets Trust, Inc. Executive Chairman and 10% owner Ernest S. Rady reported indirect open-market purchases of company common stock through Ernest Rady Trust U/D/T March 10, 1983. The trust bought a total of 78,855 shares at prices between $21.15 and $21.70 per share. Following the largest recorded purchase, the trust held 8,262,188 shares. The filing also updates Rady’s direct and other indirect holdings through related entities and trusts.

Insider Trade Summary

Net Buyer: 78,855 shares

Net Buy 9 txns

Insider RADY ERNEST S

Role Executive Chairman

Bought 78,855 shs ($1.70M)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.01	56,656	$21.70	$1.23M
Purchase	Common Stock, par value $0.01	4,880	$21.32	$104K
Purchase	Common Stock, par value $0.01	17,319	$21.15	$366K
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 — 8,262,188 shares (Indirect, By ERT); Common Stock, par value $0.01 — 2,267,022 shares (Indirect, By AAI); Common Stock, par value $0.01 — 1,275,336 shares (Indirect, By ICW); Common Stock, par value $0.01 — 1,209,021 shares (Indirect, By RF); Common Stock, par value $0.01 — 102,859 shares (Indirect, By ESRT); Common Stock, par value $0.01 — 200,000 shares (Indirect, By EIC); Common Stock, par value $0.01 — 66,680 shares (Direct)

Footnotes (7)

1. F1. 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. F2. 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. F3. 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. F4. 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. F5. 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.
6. F6. 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.
7. F7. Represents shares held by Ernest Rady IRA.

Key Figures

Total shares purchased: 78,855 shares Purchase price May 21, 2026: $21.70/share Purchase price May 20, 2026: $21.32/share +5 more

8 metrics

Total shares purchased 78,855 shares Indirect open-market purchases by Ernest Rady Trust

Purchase price May 21, 2026 $21.70/share Common stock bought indirectly by Ernest Rady Trust

Purchase price May 20, 2026 $21.32/share Common stock bought indirectly by Ernest Rady Trust

Purchase price May 19, 2026 $21.15/share Common stock bought indirectly by Ernest Rady Trust

Shares held after largest purchase 8,262,188 shares American Assets Trust shares held by Ernest Rady Trust

Direct shares in IRA 66,680 shares Common stock held directly by Ernest Rady IRA

Indirect shares via AAI 2,267,022 shares Common stock held by American Assets, Inc.

Indirect shares via ICW 1,275,336 shares Common stock held by Insurance Company of the West

Key Terms

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

5 terms

open-market purchase financial

"The trust bought a total of 78,855 shares in open-market purchase transactions."

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 ownership financial

"The newly purchased shares are reported as indirect ownership by Ernest Rady Trust."

pecuniary interest financial

"Rady disclaims beneficial ownership except to the extent of his pecuniary interest therein."

disclaims beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of such shares."

Form 4 regulatory

"This Form 4 reports the insider’s indirect open-market purchases of common stock."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

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

What insider transactions did AAT’s Ernest S. Rady report on this Form 4?

Ernest S. Rady reported indirect open-market purchases of American Assets Trust common stock through Ernest Rady Trust. The trust bought 78,855 shares in total at prices between $21.15 and $21.70 per share across multiple days.

On which dates were the American Assets Trust (AAT) shares purchased?

The reported indirect purchases occurred on May 19, 2026, May 20, 2026, and May 21, 2026. Each date reflects an open-market purchase of American Assets Trust common stock by Ernest Rady Trust, with separate share amounts and prices disclosed.

How many American Assets Trust shares did the Ernest Rady Trust hold after these purchases?

After the largest reported transaction, Ernest Rady Trust held 8,262,188 shares of American Assets Trust common stock. This position is reported as an indirect holding, with Ernest S. Rady serving as trustee and disclaiming beneficial ownership beyond his pecuniary interest.

At what prices were the American Assets Trust (AAT) shares purchased on the open market?

The reported open-market purchases were made at $21.15 per share on May 19, $21.32 per share on May 20, and $21.70 per share on May 21. Each transaction involved American Assets Trust common stock.

Are the AAT shares in this Form 4 held directly by Ernest S. Rady or through entities?

The newly purchased shares are held indirectly by Ernest Rady Trust, for which Ernest S. Rady is trustee. The filing also lists other indirect holdings through entities such as AAI, ICW, RF, ESRT, and EIC, plus a direct IRA holding.

Does Ernest S. Rady fully claim beneficial ownership of the reported AAT shares?

The filing states that Ernest S. Rady disclaims beneficial ownership of shares held by the trust and related entities, except to the extent of his pecuniary interest. This applies to holdings in ERT, AAI, ICW, RF, ESRT, and EIC.

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

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Accepted by SEC EDGAR 05/21/2026 - 04:29 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^*

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)
05/19/2026

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	05/19/2026		P		17,319	A	$21.15	8,200,652	I	By ERT(1)
Common Stock, par value $0.01	05/20/2026		P		4,880	A	$21.32	8,205,532	I	By ERT(1)
Common Stock, par value $0.01	05/21/2026		P		56,656	A	$21.7	8,262,188	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								102,859	I	By ESRT(5)
Common Stock, par value $0.01								200,000	I	By EIC(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 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.

6. 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.

7. Represents shares held by Ernest Rady IRA.

Remarks:

	/s/ Meleana Leaverton, Attorney-in-fact	05/21/2026
	** 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)