Valdes Angela 4
4 · JBG SMITH Properties · Filed Jun 15, 2023
Insider Transaction Report
Form 4
Valdes Angela
Chief Accounting Officer
Transactions
- Conversion
OP Units
2023-06-15−10,493→ 0 total→ Common Shares (10,493 underlying) - Conversion
Common Shares
2023-06-15+10,493→ 12,098 total - Conversion
LTIP Units
2023-06-15−10,493→ 81,259 total→ Common Shares (10,493 underlying) - Conversion
OP Units
2023-06-15+10,493→ 10,493 total→ Common Shares (10,493 underlying)
Footnotes (5)
- [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 of the Issuer, par value $0.01 ("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, or the cash value of a Common Share, at the Issuer's option.
- [F3]Reflects the acquisition of 445 Common Shares on December 15, 2021, 528 Common Shares on June 30, 2022, and 632 Common Shares on December 15, 2022 through the Issuer's Employee Share Purchase Plan, which are held directly by the reporting person.
- [F4]Limited partnership units in the OP designated as 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 LTIPs has been revised to reflect that certain LTIPs, originally granted in January 2020, were forfeited based on performance conditions set forth in the award agreement.