William Matthew Kelly - 21 Jun 2021 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role
Chief Executive Officer, Director
Signature
/s/ Steven A. Museles, attorney-in-fact
Issuer symbol
JBGS
Transactions as of
21 Jun 2021
Net transactions value
$0
Form type
4
Filing time
23 Jun 2021, 16:16:58 UTC
Next filing
02 Aug 2021
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction JBGS OP Units Gift $0 -219,000 -30% $0.000000 514,899 21 Jun 2021 Common Shares 219,000 Direct F1, F2, F3
transaction JBGS OP Units Gift $0 +219,000 $0.000000 219,000 21 Jun 2021 Common Shares 219,000 Held by spouse F1, F3
transaction JBGS OP Units Gift $0 -219,000 -43% $0.000000 295,899 21 Jun 2021 Common Shares 219,000 Kelly Family Holdings LLC F1, F4
holding JBGS OP Units 38,432 21 Jun 2021 Common Shares 38,432 By WMK Fund Holdings II, L.L.C. F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Operating Partnership Unit ("OP Unit") in JBG SMITH Properties LP, the operating partnership of JBG SMITH Properties (the "Issuer"), is redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share"), or the cash value of a Common Share, at the Issuer's option
F2 221,494 of these OP Units are unvested and will vest subject to the reporting person's continued service through each vesting date. These OP Units will vest in equal monthly installments through July 1, 2022. The remaining 293,405 OP Units are vested.
F3 This transaction involved a gift of OP Units by Mr. Kelly to his spouse, who shares Mr. Kelly's household, as part of the reporting person's estate planning. The filing of this Form 4 shall not be deemed an admission that Mr. Kelly is the beneficial owner of these OP Units.
F4 As part of the reporting person's estate planning, the reporting person transferred 219,000 of OP Units to a limited liability company that is managed by independent third parties. Following the transfer, the reporting person is no longer a beneficial owner of the OP Units transferred to the limited liability company.