JBG SMITH Properties — Director's Dealing 2021

Jun 23, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JBG SMITH Properties (JBGS)
CIK: 0001689796
Period of Report: 2021-06-21

Reporting Person: Kelly William Matthew (Director, Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-06-21	OP Units	$	G	219000	Disposed		Common Shares (219000)	Direct
2021-06-21	OP Units	$	G	219000	Acquired		Common Shares (219000)	Indirect
2021-06-21	OP Units	$	G	219000	Disposed		Common Shares (219000)	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
OP Units	$		Common Shares (38432)	38432	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

F2: 221,494 of these OP Units are unvested and will vest subject to the reporting person's continued service through each vesting date. These OP Units will vest in equal monthly installments through July 1, 2022. The remaining 293,405 OP Units are vested.

F3: This transaction involved a gift of OP Units by Mr. Kelly to his spouse, who shares Mr. Kelly's household, as part of the reporting person's estate planning. The filing of this Form 4 shall not be deemed an admission that Mr. Kelly is the beneficial owner of these OP Units.

F4: As part of the reporting person's estate planning, the reporting person transferred 219,000 of OP Units to a limited liability company that is managed by independent third parties. Following the transfer, the reporting person is no longer a beneficial owner of the OP Units transferred to the limited liability company.