secwatch.observer — SEC 8-K summary
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Issuer:     American Assets Trust, Inc. (AAT)
CIK:        0001500217
Form:       8-K
Filed at:   2024-12-05T23:59:59+00:00
Accession:  0001500217-24-000070
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1500217/000150021724000070/0001500217-24-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1500217/000150021724000070/aat-20241204.htm
  HTML page:      https://secwatch.observer/filing/0001500217-24-000070

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer