Steven A. Museles - Aug 15, 2022 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role: Chief Legal Off. & Corp. Secy
Signature: /s/ Steven A. Museles
Stock symbol: JBGS
Transactions as of: Aug 15, 2022
Transactions value $: -$323,149
Form type: 4
Date filed: 8/17/2022, 04:52 PM
Previous filing: Jan 5, 2022
Next filing: Jan 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security		+13.5K	+235.25%		19.2K	Aug 15, 2022	Direct	F1, F2, F3
transaction	JBGS	Common Shares	Sale	-$323K	-13.5K	-70.17%	$23.96	5.73K	Aug 16, 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	LTIP Units	Conversion of derivative security		-13.5K	-5.83%		218K	Aug 15, 2022	Common Shares	13.5K		Direct	F1, F5, F6
transaction	JBGS	OP Units	Conversion of derivative security		+13.5K			13.5K	Aug 15, 2022	Common Shares	13.5K		Direct	F1, F2, F5
transaction	JBGS	OP Units	Conversion of derivative security		-13.5K	-100%		0	Aug 15, 2022	Common Shares	13.5K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The reported transactions represent solely a conversion of limited partnership units in JBG SMITH Properties LP (the "OP"), the operating partnership of JBG SMITH Properties (the "Issuer"), designated as LTIP Units ("LTIP Units") into Operating Partnership Units ("OP Units") in the OP, and an exchange of OP Units into common shares. No sale or monetization of securities has occurred.
F2	Each OP Unit 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.
F3	Reflects the acquisition of an additional 975 Common Shares on June 30, 2021 and 1,244 Common Shares on June 30, 2022 through the Issuer's Employee Share Purchase Plan and an additional 41 Common Shares through the Issuer's direct dividend reinvestment and share purchase program, which are held directly by the reporting person.
F4	The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $23.90 to $24.03, inclusive. The reporting person undertakes to provide to JBG SMITH Properties, any security holder of JBG SMITH Properties, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (4) to this Form 4.
F5	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.
F6	The total number of LTIP Units has been revised to reflect that certain LTIP Units, originally granted in January 2019, were forfeited based on performance conditions set forth in the award agreement.