Evan Regan-Levine - 15 Sep 2025 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role: Chief Strategy Officer
Signature: /s/ Steven A. Museles, attorney-in-fact
Issuer symbol: JBGS
Transactions as of: 15 Sep 2025
Net transactions value: -$134,965
Form type: 4
Filing time: 15 Sep 2025, 18:09:13 UTC
Previous filing: 06 Jan 2025
Next filing: 17 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Regan-Levine Evan	Chief Strategy Officer	C/O JBG SMITH PROPERTIES, 4747 BETHESDA AVENUE, SUITE 200, BETHESDA	/s/ Steven A. Museles, attorney-in-fact	15 Sep 2025	0002012105

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security		+5,714			5,714	15 Sep 2025	Direct	F1, F2
transaction	JBGS	Common Shares	Sale	$134,965	-5,714	-100%	$23.62	0	15 Sep 2025	Direct	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		-5,714	-4.1%		133,011	15 Sep 2025	Common Shares	5,714		Direct	F1, F4
transaction	JBGS	OP Units	Conversion of derivative security		+5,714	+978%		6,298	15 Sep 2025	Common Shares	5,714		Direct	F1, F2, F4
transaction	JBGS	OP Units	Conversion of derivative security		-5,714	-91%		584	15 Sep 2025	Common Shares	5,714		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	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.59 to $23.65, inclusive. The reporting person undertakes to provide to JBG SMITH Properties, any security holder of JBG SMITH Properties, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.
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.