4//SEC Filing
Reynolds Kevin 4
Accession 0001104659-21-001171
CIK 0001689796other
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 8:35 PM ET
Size
10.6 KB
Accession
0001104659-21-001171
Insider Transaction Report
Form 4
Reynolds Kevin
Co-Chief Development Officer
Transactions
- Award
LTIP Units
2021-01-01+25,676→ 268,644 total→ Common Shares (25,676 underlying) - Award
LTIP Units
2021-01-01+49,537→ 305,805 total→ Common Shares (49,537 underlying)
Footnotes (5)
- [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 ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan ("Omnibus Plan"). These 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 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 LTIP Units issuance.
- [F2]The LTIP Units vest 25% on each of the first through fourth anniversaries of January 1, 2021, subject to reporting person's continued employment through each vesting date.
- [F3]The reporting person received a grant of LTIP Units pursuant to the Omnibus Plan. These LTIP Units, plus any LTIP Units received in respect of accrued dividend equivalents pursuant to the terms of the award agreements, are a class of units in the OP that, if earned and 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. The resulting OP Units are redeemable by the holder for one 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 LTIP Units issuance.
- [F4]These LTIP Units, or a portion thereof, may become earned based on the Issuer's achievement of the performance conditions set forth in the award agreement over a three-year performance period commencing January 1, 2021 (or under certain circumstances, over an additional seven-year performance period thereafter). To the extent earned, the LTIP Units will vest 50% on the date the number of LTIP Units that become earned is determined and 50% on January 1, 2025 (or, if any LTIP Units become earned during the additional seven-year performance period, on such date the LTIP Units become earned), subject to the reporting person's continued employment through each vesting date.
- [F5]The total number of LTIP Units has been revised to reflect the actual number of LTIP Units from the August 2017 grant that remain available to be earned based on achievement of a positive total shareholder return during the remaining performance period.
Documents
Issuer
JBG SMITH Properties
CIK 0001689796
Entity typeother
Related Parties
1- filerCIK 0001708638
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 8:35 PM ET
- Size
- 10.6 KB