Steven A. Museles - Feb 15, 2023 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: Feb 15, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/17/2023, 03:14 PM
Previous filing: Jan 5, 2023
Next filing: Dec 15, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security		+10K	+173.67%		15.8K	Feb 15, 2023	Direct	F1, F2, F3

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		-10K	-4.09%		235K	Feb 15, 2023	Common Shares	10K		Direct	F1, F4
transaction	JBGS	OP Units	Conversion of derivative security		+10K			10K	Feb 15, 2023	Common Shares	10K		Direct	F1, F2, F4
transaction	JBGS	OP Units	Conversion of derivative security		-10K	-100%		0	Feb 15, 2023	Common Shares	10K		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 of the Issuer, par value $0.01 ("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, or the cash value of a Common Share, at the Issuer's option.
F3	Reflects the acquisition of an additional 25 Common Shares through the Issuer's direct dividend reinvestment and share purchase program, which are held directly by the reporting person.
F4	Limited partnership units in the OP designated as 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.