American Assets Trust sets CEO succession: Wyll becomes CEO, Rady Executive Chairman Jan 1, 2025

American Assets Trust, Inc.

Ernest Rady transitions from CEO to Executive Chairman; Adam Wyll becomes President and CEO effective Jan 1, 2025.
Rady base salary $600K, target bonus 100% of base, equity target $800K; Wyll base $750K, target bonus 127%, equity target $1.6M.
Wyll receives one-time equity award of $1.6M of common stock vesting over three years.
Employment agreements have one-year initial term with automatic annual renewals.
Severance: Wyll gets 2x salary plus average bonus; Rady gets 1x (2x after change in control).

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