RADY ERNEST S 4

What Happened
Ernest S. Rady, a reported 10% owner of American Assets Trust (AAT), made three open-market purchases totaling 82,386 shares between Feb 20 and Feb 24, 2026, for an aggregate cost of about $1.60 million. Trades: 3,528 shares at $19.37 on 2026-02-20 ($68,337); 50,000 shares at $19.50 on 2026-02-23 ($975,000); and 28,858 shares at $19.28 on 2026-02-24 ($556,382). These were purchases (transaction code P), which investors often view as a more informative signal than routine sales.

Key Details

• Transaction dates & prices:
  • 2026-02-20: 3,528 shares @ $19.37 = $68,337
  • 2026-02-23: 50,000 shares @ $19.50 = $975,000
  • 2026-02-24: 28,858 shares @ $19.28 = $556,382
• Total purchased: 82,386 shares for ~$1,599,719.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: Holdings are associated with multiple trusts/entities (Ernest Rady Trust, American Assets, Inc., Insurance Company of the West, Rady Foundation, Explorer Insurance Company, Evelyn Shirley Rady Trust, and an Ernest Rady IRA). The filing notes Rady is trustee or controls these entities and disclaims beneficial ownership except to the extent of his pecuniary interest.
• Timeliness: Filing date 2026-02-24 covers transactions through 2026-02-24 and was filed within the typical two-business-day SEC window for the later trades (noted as timely).

Context

• These were straightforward open-market purchases (code P). For a 10% owner, purchases can reflect personal/investment decisions or entity reallocations; the footnotes indicate several holdings are via controlled entities and trusts. The filing is factual and does not state motive.