JBG SMITH Properties — Director's Dealing 2018

Aug 2, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JBG SMITH Properties (JBGS)
CIK: 0001689796
Period of Report: 2018-08-01

Reporting Person: Iker James Lee (Chief Investment Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-08-01	Common Shares	C	47673	—	Acquired	47673	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-08-01	OP Units	$	C	47673	Disposed		Common Shares (47673)	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
OP Units	$		Common Shares (872012)	872012	Direct
OP Units	$		Common Shares (45693)	917705	Direct
OP Units	$		Common Shares (40017)	40017	Indirect
OP Units	$		Common Shares (14118)	14118	Indirect

Footnotes

F1: Each Operating Partnership Unit ("OP Unit") in JBG SMITH Properties LP, the operating partnership of JBG SMITH Properties (the "Issuer"), is redeemable 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, beginning August 1, 2018. The OP Units were fully vested on the date of grant.

F2: Each of these OP Units is redeemable by the holder for one Common Share, or the cash value of a Common Share, at the Issuer's option, beginning August 1, 2018. 50% of these OP Units vested July 18, 2017 and 50% are scheduled to vest in equal monthly installments, beginning on February 1, 2020 and ending on July 1, 2022, subject to the reporting person's continued employment through each vesting date.

F3: The Form 4 filed for Mr. Iker on July 20, 2017 inadvertently reported as directly owned 14,118 OP Units which in fact were and are owned indirectly, through JBG Properties, Inc., as reported herein.