William Matthew Kelly - Feb 18, 2022 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role
Chief Executive Officer, Director
Signature
/s/ Steven A. Museles, attorney-in-fact
Stock symbol
JBGS
Transactions as of
Feb 18, 2022
Transactions value $
$0
Form type
4
Date filed
2/23/2022, 03:05 PM
Previous filing
Jan 5, 2022
Next filing
Jun 17, 2022

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 Award +50.7K +3.6% 1.46M Feb 18, 2022 Common Shares 50.7K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person received a grant of limited partnership units in JBG SMITH Properties LP (the "OP"), JBG SMITH Properties' (the "Issuer's") operating partnership, designated as LTIP Units ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan. These LTIP Units are a class of units in the OP that 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 operating partnership units in the OP ("OP Units"). The resulting OP Units are redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share") per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two-year anniversary of the LTIP Units issuance.
F2 These LTIP Units were issued pursuant to the reporting person's election with the Issuer to receive the entirety of his cash bonus payable for 2021 in the form of fully vested LTIP Units.
F3 The total number of LTIPs has been revised to reflect that certain LTIPs, originally granted in January 2019, were forfeited based on performance conditions set forth in the award agreement.