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American Assets Trust Executive Compensation (FY25)

AAT · San Diego, CA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): June 1, 2026
190 figures on this page: 179 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Adam Wyll was paid $4,806,038 in total compensation as President and Chief Executive Officer for fiscal 2025, and Wyll's total moved 9.9% lower from the $5,335,084 reported for fiscal 2024. For fiscal 2025, the company reported a chief executive pay ratio of 56:1, against median employee compensation of $85,820. Shareholders supported the say-on-pay proposal with 98.6% of votes cast for or against in favor at the meeting held June 1, 2026 for fiscal 2025. The fiscal 2025 disclosure covers 4 named executive officers.
Chief executive, fiscal 2025
◇
Adam Wyll
Latest say-on-pay support
=
June 1, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Adam Wyll: $5,335,084 → $4,806,038 (9.9% lower)
Say-on-pay support: 97.5% → 98.6% (1.1 points higher)
CEO pay ratio: 42:1 → 56:1 (33.3% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is American Assets Trust's chief executive and what were they paid?
Adam Wyll was paid $4,806,038 in total compensation as President and Chief Executive Officer for fiscal 2025. Wyll's total moved 9.9% lower from the $5,335,084 reported for fiscal 2024.
What was American Assets Trust's say-on-pay result?
Shareholders supported the say-on-pay proposal with 98.6% of votes cast for or against in favor at the meeting held June 1, 2026 for fiscal 2025.
What is American Assets Trust's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 56:1, against median employee compensation of $85,820.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ernest Rady
Chairman of the Board of Directors and Chief Executive Officer
◇◇◇———◇◇
Robert Barton
Executive Vice President and Chief Financial Officer
◇◇◇—◇—◇◇
Adam Wyll
President and Chief Operating Officer
◇◇◇—◇—◇◇
Jerry Gammieri
Senior Vice President of Construction and Development
◇◇◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ernest Rady
Chairman of the Board of Directors and Chief Executive Officer
◇◇◇———◇◇
Robert Barton
Executive Vice President and Chief Financial Officer
◇◇◇—◇—◇◇
Adam Wyll
President and Chief Operating Officer
◇◇◇—◇—◇◇
Jerry Gammieri
Senior Vice President of Construction and Development
◇◇◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Adam Wyll
President and Chief Executive Officer and former Chief Operating Officer
Departed during or after this year
◇◇◇—◇—◇◇
Ernest Rady
Executive Chairman of the Board and former Chief Executive Officer
Departed during or after this year
◇◇————◇◇
Robert Barton
Executive Vice President and Chief Financial Officer
◇◇◇—◇—◇◇
Jerry Gammieri
Senior Vice President of Construction and Development
◇◇◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Adam Wyll
President and Chief Executive Officer
◇—◇—◇—◇◇
Robert Barton
Executive Vice President and Chief Financial Officer
◇◇◇—◇—◇◇
Ernest Rady
Executive Chairman of the Board of Directors
◇◇————◇◇
Jerry Gammieri
Senior Vice President of Construction and Development
◇◇◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Adam WyllPSU◇—◇—◇—◇
Jerry GammieriPSU◇—◇—◇—◇
Robert F. BartonPSU◇—◇—◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Adam WyllRSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Robert BartonRSU◇◇——
PSU◇◇——
RSU◇◇——
Jerry GammieriRSU◇◇——
RSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas S. Olinger
◇◇————◇
Joy L. Schaefer
◇◇————◇
Nina A. Tran
◇◇————◇
Dr. Robert S. Sullivan
◇◇————◇
Ernest S. Rady and Stuart A. Tanz served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Board meeting fee◇
Committee meeting fee◇
Equity is delivered as Restricted Stock.
Stock ownership guideline: 5x annual retainer ($200,000)

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Target TGT

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 1, 2026=◇◇◇
2024June 2, 2025=◇◇◇
2023June 3, 2024=◇◇◇
2022June 5, 2023=◇◇◇
2021June 7, 2022=◇◇◇
2020June 8, 2021=◇◇◇
2019June 9, 2020=◇◇◇
2018June 11, 2019=◇◇◇
2017June 12, 2018=◇◇◇
2016June 13, 2017=◇◇◇
2015June 14, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact American Assets Trust disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where American Assets Trust sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
190 figures on this page: 179 cited to the filing that reported them, 11 calculated from figures it prints.
179 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001500217-26-000038
  2. 0001500217-26-000023
    Director Compensation · Grants of Plan-Based Awards · Outstanding Equity Awards at Fiscal Year-End · Summary Compensation Table
  3. 0001500217-25-000039
  4. 0001500217-25-000017
    Summary Compensation Table
  5. 0001500217-24-000029
  6. 0001500217-24-000017
    Summary Compensation Table
  7. 0001500217-23-000047
  8. 0001500217-23-000023
    Summary Compensation Table
  9. 0001500217-22-000064
  10. 0001500217-21-000058
  11. 0001500217-20-000044
  12. 0001500217-19-000032
  13. 0001500217-18-000069
  14. 0001500217-17-000062
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001500217-16-000178
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “American Assets Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/AAT (accessed 2026).
Short form: data: Velarion
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Real Estate rankings

Chief executive pay — Real EstateCEO pay ratio — Real EstateSay-on-pay support — Real Estate

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy