Glosserman Michael J 5

Accession 0001104659-22-020592

CIK 0001689796other

View on SEC.gov Company Profile

Filed

Feb 10, 7:00 PM ET

Accepted

Feb 11, 4:47 PM ET

Size

25.2 KB

Accession

0001104659-22-020592

Insider Transaction Report

Form 5

Period: 2021-12-31

JBG SMITH PropertiesJBGS

Glosserman Michael J

Director

Transactions

Gift
OP Units
2021-08-10−471,071→ 0 total
→ Common Shares (471,071 underlying)
Gift
OP Units
2021-08-10+471,071→ 471,071 total(indirect: By Trust)
→ Common Shares (471,071 underlying)
Gift
OP Units
2021-12-13−67,000→ 404,071 total(indirect: By Trust)
→ Common Shares (67,000 underlying)
Gift
OP Units
2021-12-13+67,000→ 67,000 total(indirect: GRAT)
→ Common Shares (67,000 underlying)
Gift
LTIP Units
2021-10-27−19,309→ 0 total
→ Common Shares (19,309 underlying)
Gift
LTIP Units
2021-10-27+19,309→ 19,309 total(indirect: By Trust)
→ Common Shares (19,309 underlying)
Gift
Formation Units
2021-10-27−36,051→ 108,153 total
Exercise: $37.10→ Common Shares (36,051 underlying)
Gift
Formation Units
2021-10-27+36,051→ 36,051 total(indirect: By Trust)
Exercise: $37.10→ Common Shares (36,051 underlying)

Footnotes (12)

[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 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.
[F10]The reporting person received a grant of limited partnership interests in the OP designated as Formation Units ("Formation Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan. Formation Units are a class of units in the OP similar to "net exercise" stock option awards, that are convertible by the holder, once vested, into a number of vested LTIP Units determined by the increase in the value of a Common Share at the time of conversion over the value of a Common Share at the time the Formation Unit was granted. [footnote continued]
[F11][Continued from footnote] Vested LTIP Units into which Formation Units have been converted are further 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 issuance of the Formation Units, which was July 18, 2017.
[F12]This transaction involved a gift of vested Formation Units by Mr. Glosserman to the Michael J. Glosserman Revocable Trust.
[F2]This transaction involved a gift of OP Units by Mr. Glosserman to the Michael J. Glosserman Revocable Trust.
[F3]A previous filing inadvertently included indirect ownership of certain OP Units held by JBG Properties, Inc. for which the reporting person disclaims beneficial ownership and which such ownership is not included herein.
[F4]As of December 31, 2021, 69,629 of these OP Units are unvested and will vest in equal monthly installments through July 1, 2022. The remaining 401,442 OP Units are vested.
[F5]Mr. Glosserman is the sole trustee and beneficiary of the Michael J. Glosserman Revocable Trust
[F6]This transaction involved a gift of OP Units from the Michael J. Glosserman Revocable Trust to a grantor retained annuity trust.
[F7]As of December 31, 2021, 69,629 of these OP Units are unvested and will vest in equal monthly installments through July 1, 2022. The remaining 334,442 OP Units are vested.
[F8]These 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.
[F9]This transaction involved a gift of LTIP Units by Mr. Glosserman to the Michael J. Glosserman Revocable Trust.

Documents

1 file

5
tm226334-1_5seq1.xmlPrimary
OWNERSHIP DOCUMENT

Issuer

JBG SMITH Properties

CIK 0001689796

→

Entity typeother

Related Parties

filerCIK 0001436265

Filing Metadata

Form type: 5
Filed: Feb 10, 7:00 PM ET
Accepted: Feb 11, 4:47 PM ET
Size: 25.2 KB

View on SEC.gov