American Assets Trust chair buys 35,763 shares

American Assets Trust Executive Chairman and 10% owner Ernest S. Rady reported open‑market purchases totaling 35,763 common shares.

Rhea-AI Filing Summary

American Assets Trust Executive Chairman and 10% owner Ernest S. Rady reported open‑market purchases totaling 35,763 common shares. On August 7, 32,763 shares were bought at $22.82 per share through the Ernest Rady Trust, taking that trust to 8,459,288 shares; on August 5, 3,000 shares were bought at $23.04 through the Evelyn Shirley Rady Trust, reaching 107,859 shares. Additional entries reflect substantial indirect holdings across several controlled entities and an IRA, for which Rady disclaims beneficial ownership beyond his pecuniary interests. The Rule 10b5‑1 trading‑plan checkbox was not selected.

Insider Trade Summary

Net Buyer: 35,763 shares

Net Buy 7 txns

Insider RADY ERNEST S

Role Executive Chairman

Bought 35,763 shs ($817K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.01 F2	32,763	$22.82	$748K
Purchase	Common Stock, par value $0.01 F1	3,000	$23.04	$69K
holding	Common Stock, par value $0.01 F3	--	--	--
holding	Common Stock, par value $0.01 F4	--	--	--
holding	Common Stock, par value $0.01 F5	--	--	--
holding	Common Stock, par value $0.01 F6	--	--	--
holding	Common Stock, par value $0.01 F7	--	--	--

Holdings After Transaction: Common Stock, par value $0.01 — 107,859 shares (Indirect, By ESRT); Common Stock, par value $0.01 — 8,459,288 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 — 200,000 shares (Indirect, By EIC); Common Stock, par value $0.01 — 66,680 shares (Direct)

Footnotes (7)

1. F1. 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.
2. F2. 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.
3. F3. 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.
4. F4. 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.
5. F5. 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.
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: 35763 shares Purchase price 2026-08-07: $22.82 per share Shares held by Ernest Rady Trust: 8459288 shares +3 more

6 metrics

Total shares purchased 35763 shares Open-market purchases on August 5 and 7, 2026

Purchase price 2026-08-07 $22.82 per share 32,763 shares bought via Ernest Rady Trust (ERT)

Shares held by Ernest Rady Trust 8459288 shares Indirect holdings after August 7, 2026 purchase

Purchase price 2026-08-05 $23.04 per share 3,000 shares bought via Evelyn Shirley Rady Trust (ESRT)

Shares held by ESRT 107859 shares Indirect holdings after August 5, 2026 purchase

Shares held by American Assets, Inc. 2267022 shares Indirect holdings through controlled company AAI

Key Terms

beneficial ownership, pecuniary interest, trustee

3 terms

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.

FAQ

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

What insider buying in AAT did Ernest S. Rady report?

Ernest S. Rady reported open‑market purchases of 35,763 American Assets Trust common shares. He bought 32,763 shares at $22.82 on August 7 and 3,000 shares at $23.04 on August 5 through family trusts he oversees.

Through which entities does Ernest S. Rady hold AAT shares?

Holdings are largely indirect, including trusts ERT and ESRT, and entities American Assets, Inc., Insurance Company of the West, Rady Foundation and Explorer Insurance Company, plus an IRA. Rady is trustee or controller and disclaims beneficial ownership beyond his pecuniary interests.

How many AAT shares do the Rady trusts hold after these trades?

After the reported purchases, the Ernest Rady Trust holds 8,459,288 American Assets Trust shares, while the Evelyn Shirley Rady Trust holds 107,859 shares. Both positions are reported as indirect holdings, with beneficial ownership disclaimed except for Rady’s pecuniary interest.

Were Ernest S. Rady’s AAT trades under a Rule 10b5‑1 plan?

No. The Rule 10b5‑1 trading‑plan checkbox for these transactions was not selected, indicating the reported open‑market purchases were not affirmatively designated as executed pursuant to a Rule 10b5‑1 pre‑arranged trading plan.

What is Ernest S. Rady’s role and ownership status at AAT?

Ernest S. Rady is reported as Executive Chairman, a director, an officer and a 10% owner of American Assets Trust. Most of his reported AAT stock exposure is held indirectly through trusts and controlled entities, with beneficial ownership limited to his pecuniary interest.

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

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Available on EDGAR 08/07/2026 - 04:20 PM Accepted by SEC EDGAR 08/07/2026 - 04:19 PM 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)
08/05/2026

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	08/05/2026		P		3,000	A	$23.04	107,859	I	By ESRT(1)
Common Stock, par value $0.01	08/07/2026		P		32,763	A	$22.82	8,459,288	I	By ERT(2)
Common Stock, par value $0.01								2,267,022	I	By AAI(3)
Common Stock, par value $0.01								1,275,336	I	By ICW(4)
Common Stock, par value $0.01								1,209,021	I	By RF(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 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.

2. 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.

3. 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.

4. 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.

5. 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.

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	08/07/2026
	** 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)