Regan-Levine Evan 4
4 · JBG SMITH Properties · Filed Jun 17, 2024
Insider Transaction Report
Form 4
Regan-Levine Evan
Chief Strategy Officer
Transactions
- Conversion
OP Units
2024-06-17−7,525→ 584 total→ Common Shares (7,525 underlying) - Conversion
Common Shares
2024-06-17+7,525→ 7,525 total - Conversion
LTIP Units
2024-06-17−7,525→ 115,343 total→ Common Shares (7,525 underlying) - Conversion
OP Units
2024-06-17+7,525→ 8,109 total→ Common Shares (7,525 underlying)
Footnotes (4)
- [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]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.
- [F4]The total number of LTIP Units has been revised to reflect that 21,023 LTIP Units, originally granted on January 2, 2024 and conditioned on the closing of the sale of land owned for the development of a sports and entertainment complex in Virginia, have been cancelled for no value by mutual agreement.