William Matthew Kelly - Jun 15, 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: Jun 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/17/2022, 04:06 PM
Previous filing: Feb 23, 2022
Next filing: Sep 7, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security		+38.4K			38.4K	Jun 15, 2022	WMK Fund Holdings II, LLC	F1, F2, F3
holding	JBGS	Common Shares						47.7K	Jun 15, 2022	By WMK Fund Holdings I, L.L.C.
holding	JBGS	Common Shares						3.38K	Jun 15, 2022	Direct	F4

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	Conversion of derivative security		-38.4K	-100%		0	Jun 15, 2022	Common Shares	38.4K		WMK Fund Holdings II, LLC	F1, F2
holding	JBGS	OP Units						296K	Jun 15, 2022	Common Shares	296K		Direct	F2, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These transactions represent solely a redemption of Operating Partnership Units ("OP Units") in JBG SMITH Properties LP, the operating partnership of JBG SMITH Properties (the "Issuer"), for common shares of the Issuer, par value $0.01 ("Common Shares"). No sale or monetization of securities has occurred.
F2	Each OP Unit is redeemable by the holder for one Common Share, or the cash value of a Common Share, at the Issuer's option.
F3	The reporting person owns a majority of the interests in WMK Fund Holdings II, LLC (the "LLC"), and the reporting person's spouse owns the remaining interests in the LLC.
F4	Reflects the acquisition of 634 Common Shares on June 30, 2020, 359 Common Shares on December 15, 2020, and 975 Common Shares on June 30, 2021 through the Issuer's Employee Share Purchase Plan, which are held directly by the reporting person.
F5	278,861 of these OP Units are vested. The remaining 17,038 OP Units are unvested and will vest on July 1, 2022 subject to the reporting person's continued service through the vesting date.