George Laucks Xanders - 15 Jul 2021 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role: Chief Investment Officer
Signature: /s/ Steven A. Museles, attorney-in-fact
Issuer symbol: JBGS
Transactions as of: 15 Jul 2021
Net transactions value: $0
Form type: 4
Filing time: 16 Jul 2021, 16:49:04 UTC
Next filing: 02 Aug 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security		+15,000	+4286%		15,350	15 Jul 2021	Direct	F1, F2

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	LTIP Units	Conversion of derivative security		-15,000	-6%		236,239	15 Jul 2021	Common Shares	15,000		Direct	F3
transaction	JBGS	OP Units	Conversion of derivative security		+15,000	+312%		19,800	15 Jul 2021	Common Shares	15,000		Direct	F1, F3
transaction	JBGS	OP Units	Conversion of derivative security		-15,000	-76%		4,800	15 Jul 2021	Common Shares	15,000		Direct	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 "OP"), the operating partnership of JBG SMITH Properties (the "Issuer"), is redeemable, once vested, 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	The reported transactions represent solely a conversion of LTIP Units into OP Units and an exchange of OP Units into common shares. No sale or monetization of securities has occurred.
F3	These limited partnership units in the OP designated as LTIP Units ("LTIP Units") are a class of units in the OP that, if vested, are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into an equal number of OP Units.