JBG SMITH Properties — Director's Dealing 2022

Aug 17, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JBG SMITH Properties (JBGS)
CIK: 0001689796
Period of Report: 2022-08-15

Reporting Person: Banerjee Madhumita Moina (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-08-15	Common Shares	C	30000	—	Acquired	30000	Direct
2022-08-16	Common Shares	S	26000	$23.95	Disposed	4000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-08-15	LTIP Units	$	C	30000	Disposed		Common Shares (30000)	Direct
2022-08-15	OP Units	$	C	30000	Acquired		Common Shares (30000)	Direct
2022-08-15	OP Units	$	C	30000	Disposed		Common Shares (30000)	Direct

Footnotes

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. No sale or monetization of securities has occurred.

F2: Each OP Unit 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.

F3: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $23.85 to $24.07, 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: Limited partnership units in the OP designated as LTIP Units ("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.

F5: The total number of LTIP Units has been revised to reflect that certain LTIP Units, originally granted in January 2019, were forfeited based on performance conditions set forth in the award agreement.