Angela Valdes - Jan 3, 2023 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role: Chief Accounting Officer
Signature: /s/ Steven A. Museles, attorney-in-fact
Stock symbol: JBGS
Transactions as of: Jan 3, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/5/2023, 06:47 PM
Previous filing: Feb 23, 2022
Next filing: Feb 22, 2023

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		+14.1K	+19.01%		88.4K	Jan 3, 2023	Common Shares	14.1K		Direct	F1, F2

* 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 ("LTIPs"), pursuant to JBG SMITH Properties 2017 Omnibus Share Plan ("Omnibus Plan"). These LTIPs 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 LTIPs 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 LTIPs issuance.
F2	The LTIPs vest 25% on each of the first through fourth anniversaries of January 3, 2023, subject to reporting person's continued employment through each vesting date.

Content

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 ("LTIPs"), pursuant to JBG SMITH Properties 2017 Omnibus Share Plan ("Omnibus Plan"). These LTIPs 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 LTIPs 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 LTIPs issuance.

The LTIPs vest 25% on each of the first through fourth anniversaries of January 3, 2023, subject to reporting person's continued employment through each vesting date.