Evan Regan-Levine - Jun 17, 2024 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role: Chief Strategy Officer
Signature: /s/ Steven A. Museles, attorney-in-fact
Stock symbol: JBGS
Transactions as of: Jun 17, 2024
Transactions value $: $0
Form type: 4
Date filed: 6/17/2024, 04:10 PM
Previous filing: Feb 23, 2024
Next filing: Aug 29, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security		+7.53K			7.53K	Jun 17, 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		-7.53K	-6.12%		115K	Jun 17, 2024	Common Shares	7.53K		Direct	F1, F3, F4
transaction	JBGS	OP Units	Conversion of derivative security		+7.53K	+1288.53%		8.11K	Jun 17, 2024	Common Shares	7.53K		Direct	F1, F2, F3
transaction	JBGS	OP Units	Conversion of derivative security		-7.53K	-92.8%		584	Jun 17, 2024	Common Shares	7.53K		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	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.
F4	The total number of LTIP Units has been revised to reflect that 21,023 LTIP Units, originally granted on January 2, 2024 and conditioned on the closing of the sale of land owned for the development of a sports and entertainment complex in Virginia, have been cancelled for no value by mutual agreement.