RADY ERNEST S 4

What Happened
Ernest S. Rady, a reported 10% owner of American Assets Trust (AAT), made two purchases of AAT common stock (transaction code P). On Feb 25, 2026 he acquired 5,597 shares at $19.52 each ($109,253), and on Feb 26, 2026 he acquired 5,151 shares at $20.06 each ($103,329), for a combined purchase of 10,748 shares costing $212,582. These were purchases (generally viewed as a bullish signal relative to sales), reported on an SEC Form 4 filed Feb 26, 2026.

Key Details

• Dates and prices: Feb 25, 2026 — 5,597 shares @ $19.52 ($109,253); Feb 26, 2026 — 5,151 shares @ $20.06 ($103,329).
• Total shares purchased: 10,748; total cash spent: $212,582.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Filing timeliness: Form 4 filed on Feb 26, 2026 for transactions on Feb 25–26, 2026 (filed the next day; not indicated as late).
• Footnotes: Holdings referenced include shares held by trusts and entities (Ernest Rady Trust U/D/T Mar 10, 1983; Evelyn Shirley Rady Trust; American Assets, Inc.; Insurance Company of the West; Rady Foundation; Explorer Insurance Company; Ernest Rady IRA). Rady disclaims beneficial ownership of those entity-held shares except to the extent of his pecuniary interest; he is trustee or controls several of these entities.

Context
These were straightforward purchases (no option exercises, gifts, or awards). As a 10% owner who controls several affiliated entities, Rady’s transactions reflect activity by a major investor/owner rather than routine employee compensation moves. The filing shows open-market/private purchases (code P) and does not indicate a 10b5-1 plan or other directive in the provided excerpt.