Madhumita Moina Banerjee - 15 Feb 2024 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role: Chief Financial Officer
Signature: /s/ Steven A. Museles, attorney-in-fact
Issuer symbol: JBGS
Transactions as of: 15 Feb 2024
Net transactions value: $0
Form type: 4
Filing time: 16 Feb 2024, 16:05:33 UTC
Previous filing: 04 Jan 2024
Next filing: 20 Feb 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security		+18,901			18,901	15 Feb 2024	Direct	F1, F2

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		-18,901	-8%		218,226	15 Feb 2024	Common Shares	18,901		Direct	F1, F3, F4
transaction	JBGS	OP Units	Conversion of derivative security		+18,901	+13%		167,060	15 Feb 2024	Common Shares	18,901		Direct	F1, F2, F3
transaction	JBGS	OP Units	Conversion of derivative security		-18,901	-11%		148,159	15 Feb 2024	Common Shares	18,901		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	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.
F4	The total number of LTIPs has been revised to reflect that certain LTIPs, originally granted in January 2021, were forfeited based on performance conditions set forth in the award agreement.