JBG SMITH Properties — Director's Dealing 2021

Mar 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JBG SMITH Properties (JBGS)
CIK: 0001689796
Period of Report: 2021-03-15

Reporting Person: MUSELES STEVEN A (Chief Legal Off. & Corp Secy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-15	Common Shares	C	15000	—	Acquired	18473	Direct
2021-03-16	Common Shares	S	15000	$32.87	Disposed	3473	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-15	LTIP Units	$	C	15000	Disposed		OP Units (15000)	Direct
2021-03-15	OP Units	$	C	15000	Acquired		Common Shares (15000)	Direct
2021-03-15	OP Units	$	C	15000	Disposed		Common Shares (15000)	Direct

Footnotes

F1: Each Operating Partnership Unit ("OP Unit") in JBG SMITH Properties LP (the "OP"), 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.

F2: The reporting person previously acquired 2,403 Common Shares through the Issuer's Employee Share Purchase Plan and 70 shares through the Issuer's direct dividend reinvestment and share purchase program, which are held directly by the reporting person.

F3: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $32.64 to $33.21, 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 purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.

F4: These limited partnership units in the OP designated as LTIP Units ("LTIP Units") are a class of units in the OP Units 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.