Angela Valdes - Jun 15, 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: Jun 15, 2023
Transactions value $: $0
Form type: 4
Date filed: 6/15/2023, 04:05 PM
Previous filing: Feb 22, 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		+10.5K	+653.77%		12.1K	Jun 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		-10.5K	-11.44%		81.3K	Jun 15, 2023	Common Shares	10.5K		Direct	F1, F4, F5
transaction	JBGS	OP Units	Conversion of derivative security		+10.5K			10.5K	Jun 15, 2023	Common Shares	10.5K		Direct	F1, F2, F4
transaction	JBGS	OP Units	Conversion of derivative security		-10.5K	-100%		0	Jun 15, 2023	Common Shares	10.5K		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 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 445 Common Shares on December 15, 2021, 528 Common Shares on June 30, 2022, and 632 Common Shares on December 15, 2022 through the Issuer's Employee Share Purchase Plan, 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.
F5	The total number of LTIPs has been revised to reflect that certain LTIPs, originally granted in January 2020, were forfeited based on performance conditions set forth in the award agreement.