American Assets Trust, Inc. — Director's Dealing 2014

Mar 25, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: American Assets Trust, Inc. (AAT)
CIK: 0001500217
Period of Report: 2014-03-25

Reporting Person: RADY ERNEST S (Director, Executive Chairman, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-25	Common Stock, par value $0.01	A	15061	—	Acquired	34061	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.01	53000	Indirect
Common Stock, par value $0.01	186805	Indirect
Common Stock, par value $0.01	27000	Indirect
Common Stock, par value $0.01	5255772	Indirect
Common Stock, par value $0.01	2000	Indirect

Footnotes

F1: Shares of restricted common stock issued pursuant to the American Assets Trust, Inc. and American Assets Trust, L.P. 2011 Equity Incentive Award Plan and an Amended and Restated Employment Agreement, dated March 25, 2014 by and between American Assets Trust, Inc., American Assets Trust, L.P. and the Reporting Person.

F2: Represents shares held by Insurance Company of the West ("ICW"), which is indirectly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

F3: Represents shares held by American Assets, Inc. ("AAI"), which is indirectly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

F4: 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.

F5: 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

F6: Represents shares held by Rady Family Foundation dated August 2, 2002 ("RFF"), 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.