Robert Alexander Stewart - 17 Nov 2025 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role: Director
Signature: /s/ Steven A. Museles, attorney-in-fact
Issuer symbol: JBGS
Transactions as of: 17 Nov 2025
Net transactions value: $0
Form type: 4
Filing time: 17 Nov 2025, 16:05:39 UTC
Previous filing: 02 Jul 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Stewart Robert Alexander	Director	C/O JBG SMITH PROPERTIES, 4747 BETHESDA AVENUE, SUITE 200, BETHESDA	/s/ Steven A. Museles, attorney-in-fact	17 Nov 2025	0001708865

Transactions Table

Type	Sym	Class	Transaction	Shares	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security	+200,000	200,000	17 Nov 2025	Nomad Capital, LLC	F1
holding	JBGS	Common Shares			30,000	17 Nov 2025	The Robert Alexander Stewart Revocable Trust	F2
holding	JBGS	Common Shares			20,548	17 Nov 2025	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Shares	Change %	Shares After	Date	Underlying Class	Amount	Ownership	Footnotes
transaction	JBGS	OP Units	Conversion of derivative security	-200,000	-26%	556,631	17 Nov 2025	Common Shares	200,000	Nomad Capital, LLC	F1
holding	JBGS	OP Units				75,000	17 Nov 2025	Common Shares	75,000	Stewart Holdings II LLC	F1
holding	JBGS	OP Units				14,118	17 Nov 2025	Common Shares	14,118	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Operating Partnership Unit ("OP Unit") in JBG SMITH Properties LP, the operating partnership of JBG SMITH Properties (the "Issuer"), 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. This transaction represents solely a redemption of OP Units for Common Shares. No sale or monetization of securities has occurred. Upon the conversion of the OP Units, each of Mr. Stewart's corresponding Class B Shares were automatically redeemed and cancelled by the Issuer for no consideration. Class B Shares of the Issuer have no economic rights and are not listed on a stock exchange.
F2	Mr. Stewart is the sole trustee and beneficiary of the Robert Alexander Stewart Revocable Trust.

Content

Each Operating Partnership Unit ("OP Unit") in JBG SMITH Properties LP, the operating partnership of JBG SMITH Properties (the "Issuer"), 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. This transaction represents solely a redemption of OP Units for Common Shares. No sale or monetization of securities has occurred. Upon the conversion of the OP Units, each of Mr. Stewart's corresponding Class B Shares were automatically redeemed and cancelled by the Issuer for no consideration. Class B Shares of the Issuer have no economic rights and are not listed on a stock exchange.

Mr. Stewart is the sole trustee and beneficiary of the Robert Alexander Stewart Revocable Trust.