JBG SMITH Properties — Director's Dealing 2025

Jan 6, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JBG SMITH Properties (JBGS)
CIK: 0001689796
Period of Report: 2025-01-02

Reporting Person: Valdes Angela (Chief Accounting Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-01-02	LTIP Units	$	A	17373	Acquired		Common Shares (17373)	Direct

Footnotes

F1: The reporting person received a grant of limited partnership units in JBG SMITH Properties LP (the "OP"), JBG SMITH Properties' (the "Issuer's") operating partnership, designated as LTIP Units ("LTIPs") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan. These LTIPs are a class of units in the OP that are convertible at the option of the holder, conditioned upon minimum allocations to the capital accounts of the LTIPs for federal income tax purposes, into an equal number of operating partnership units in the OP ("OP Units"). The resulting OP Units are redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share") per OP Unit or the cash value of a Common Share, at the Issuer's option, after the two-year anniversary of the LTIPs issuance.

F2: The LTIPs vest 25% on each of the first through fourth anniversaries of January 2, 2025, subject to reporting person's continued employment through each vesting date.

F3: The total number of LTIPs has been revised to reflect that certain LTIPs, originally granted in January 2021, were forfeited based on performance conditions set forth in the award agreement.