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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0306 </schemaVersion> |
| <documentType> 4 </documentType> |
| <periodOfReport> 2017-12-15 </periodOfReport> |
| <notSubjectToSection16> 0 </notSubjectToSection16> |
| <issuer> |
| | <issuerCik> 0001500217 </issuerCik> |
| | <issuerName> American Assets Trust, Inc. </issuerName> |
| | <issuerTradingSymbol> AAT </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0001221359 </rptOwnerCik> |
| | | <rptOwnerName> RADY ERNEST S </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> 11455 EL CAMINO REAL </rptOwnerStreet1> |
| | | <rptOwnerStreet2> SUITE 200 </rptOwnerStreet2> |
| | | <rptOwnerCity> SAN DIEGO </rptOwnerCity> |
| | | <rptOwnerState> CA </rptOwnerState> |
| | | <rptOwnerZipCode> 92130 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 1 </isDirector> |
| | | <isOfficer> 1 </isOfficer> |
| | | <isTenPercentOwner> 1 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | <officerTitle> Chairman, CEO & President </officerTitle> |
| | | <otherText></otherText> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeTransaction> |
| | | <securityTitle> |
| <value> Common Stock, par value $0.01 </value> |
| </securityTitle> |
| | | <transactionDate> |
| <value> 2017-12-15 </value> |
| </transactionDate> |
| | | <transactionCoding> |
| <transactionFormType> 4 </transactionFormType> |
| <transactionCode> A </transactionCode> |
| <equitySwapInvolved> 0 </equitySwapInvolved> |
| <footnoteId id="F1"/> |
| </transactionCoding> |
| | | <transactionAmounts> |
| <transactionShares> |
| <value> 57471 </value> |
| </transactionShares> |
| <transactionPricePerShare> |
| <value> 0 </value> |
| </transactionPricePerShare> |
| <transactionAcquiredDisposedCode> |
| <value> A </value> |
| </transactionAcquiredDisposedCode> |
| </transactionAmounts> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 175919 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| <footnoteId id="F2"/> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </nonDerivativeTransaction> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock, par value $0.01 </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 4865718 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> By ERT </value> |
| <footnoteId id="F3"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock, par value $0.01 </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 1360010 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> By AAI </value> |
| <footnoteId id="F4"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock, par value $0.01 </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 597341 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> By RFF </value> |
| <footnoteId id="F5"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock, par value $0.01 </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 624572 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> By ICW </value> |
| <footnoteId id="F6"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock, par value $0.01 </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 200000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> By EIC </value> |
| <footnoteId id="F7"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Common Stock, par value $0.01 </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 27000 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> I </value> |
| </directOrIndirectOwnership> |
| <natureOfOwnership> |
| <value> By ESRT </value> |
| <footnoteId id="F8"/> |
| </natureOfOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | </nonDerivativeTable> |
| <derivativeTable></derivativeTable> |
| <footnotes> |
| | <footnote id="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. </footnote> |
| | <footnote id="F2"> Amount includes (a) 52,500 shares held by Ernest Rady IRA and (b) 123,419 shares of restricted common stock issued pursuant to the American Assets Trust, Inc. and American Assets Trust, L.P. 2011 Equity Incentive Award Plan. </footnote> |
| | <footnote id="F3"> 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. </footnote> |
| | <footnote id="F4"> Represents shares held by American Assets, Inc. ("AAI"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Please note that the Form 4 filed on December 14, 2017 for Mr. Rady contained a scrivener's error. Such Form 4 should have reflected the purchase of 11,005 shares of common stock of American Assets Trust, Inc. by American Assets, Inc., rather than 11,055 shares. The total reflected in column 5 has been adjusted accordingly. </footnote> |
| | <footnote id="F5"> 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. </footnote> |
| | <footnote id="F6"> Represents shares held by Insurance Company of the West ("ICW"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. </footnote> |
| | <footnote id="F7"> Represents shares held by Explorer Insurance Company ("EIC"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. </footnote> |
| | <footnote id="F8"> 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. </footnote> |
| | </footnotes> |
| <remarks></remarks> |
| <ownerSignature> |
| | <signatureName> /s/ Adam Wyll, Attorney-in-fact </signatureName> |
| | <signatureDate> 2017-12-15 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |