American Assets Trust Inc
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
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Sep 30, 2024 · Filed Nov 1, 2024
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Item 5. Other Information
On August 29, 2024, Adam Wyll, our President and Chief Operating Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) (the “Wyll 10b5-1 Plan”). The Wyll 10b5-1 Plan provides for the sale of a number of shares of common stock that Mr. Wyll currently owns equal to 54% of the gross shares from certain performance-based restricted stock units (the “Wyll PRSUs”) granted under our Amended and Restated 2011 Equity Incentive Award Plan that are scheduled to vest in December 2024. The sale of shares pursuant to the Wyll 10b5-1 Plan is intended to satisfy tax withholding obligations upon vesting of the Wyll PRSUs. Since the applicable tax withholding obligations upon vesting of the Wyll PRSUs will vary based on certain performance-based measurements and the market price of our common stock at the time of vesting, the number of shares to be sold pursuant to the Wyll 10b5-1 Plan is indeterminable. Shares may be sold under the Wyll 10b5-1 Plan from December 1, 2024 until December 31, 2024.
During the three months ended September 30, 2024, no other officers or directors adopted orterminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”
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