JBG SMITH Properties — Director's Dealing 2022

Feb 11, 2022

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: JBG SMITH Properties (JBGS)
CIK: 0001689796
Period of Report: 2021-12-31

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)	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
OP Units	$		Common Shares (38432)	38432	Indirect
OP Units	$		Common Shares (295899)	295899	Direct

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: The reporting person's spouse transferred 219,000 OP Units to a limited liability company that is managed by independent third parties, and the reporting person is no longer a beneficial owner of the OP Units transferred to the limited liability company.

F3: As of December 31, 2021, 119,266 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 176,633 OP Units were vested.

F4: The Form 4 filed for Mr. Kelly on June 23, 2021 inadvertently reported these OP Units as being held indirectly. Additionally, previous filings inadvertently included ownership of certain OP Units held by JBG Properties, Inc. for which the reporting person disclaims beneficial ownership and which are not included herein.