4//SEC Filing
MUSELES STEVEN A 4
Accession 0001104659-26-001491
CIK 0001689796other
Filed
Jan 5, 7:00 PM ET
Accepted
Jan 6, 8:21 PM ET
Size
18.2 KB
Accession
0001104659-26-001491
Insider Transaction Report
Form 4
MUSELES STEVEN A
Chief Legal Off. & Corp Secy
Transactions
- Award
AO LTIP
2026-01-02+44,259→ 458,142 totalExercise: $18.37→ Common Shares (44,259 underlying) - Award
LTIP Units
2026-01-02+35,121→ 260,656 total→ Common Shares (35,121 underlying) - Award
LTIP Units
2026-01-02+32,500→ 293,156 total→ Common Shares (32,500 underlying) - Award
LTIP Units
2026-01-02+50,000→ 343,156 total→ Common Shares (50,000 underlying)
Footnotes (10)
- [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 Class AO LTIP Units ("AO LTIPs"), pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, as amended (the "Omnibus Plan"). AO LTIPs are similar to "net exercise" stock option awards and are convertible, once vested, into a number of vested limited partnership units in the OP, designated as LTIP Units ("LTIPs"), determined by multiplying the number of vested AO LTIPs by the quotient of (i) the excess of the value of a common share of the Issuer, par value $0.01 (a "Common Share") as of the date of the conversion over $18.37 (the "Participation Threshold per AO LTIP"), divided by (ii) the value of a Common Share as of the date of conversion. Vested LTIPs into which AO LTIPs have been converted are further convertible, [footnote continued]
- [F10][Continued from footnote] If the performance hurdle levels are not fully attained by the fourth anniversary of the date of grant, the LTIP Units will be eligible to vest following the fourth anniversary of the date of grant and up to the sixth anniversary of the date of grant as hurdle levels are attained. Vesting of the LTIP Units is generally contingent on the reporting person's continued employment with the Issuer.
- [F2][Continued from footnote] conditioned upon minimum allocations to the capital accounts of the LTIPs for U.S. 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 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 AO LTIP. A portion of these AO LTIPs may be earned or forfeited based on the Issuer's achievement of the performance conditions set forth in the award agreement over a three-year performance period commencing January 2, 2026. To the extent earned, the AO LTIPs will vest 50% on the third anniversary of the grant date and 50% on the fourth anniversary of the grant date. Vesting of the AO LTIPs is generally contingent on the reporting person's continued employment with the Issuer.
- [F3]The total number of AO LTIPs has been revised to reflect that certain AO LTIPs, originally granted in January 2022, were forfeited based on performance conditions set forth in the award agreement.
- [F4]The reporting person received a grant of LTIPs pursuant to the Omnibus Plan. These LTIPs are a class of units in the OP that, if vested and, subject to limited exceptions, following completion of a three-year post-vesting period, 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 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 LTIPs issuance.
- [F5]The LTIPs vest 25% on each of the first through fourth anniversaries of January 2, 2026, subject to the reporting person's continued employment through each vesting date.
- [F6]Upon these grants of LTIPs, the reporting person received corresponding Class B shares of the Issuer, which have no economic rights and are not listed on a stock exchange.
- [F7]For each of the LTIPs beneficially owned by the reporting person, the reporting person holds a corresponding Class B share.
- [F8]The reporting person received a grant of LTIPs pursuant to the Omnibus Plan. These LTIPs 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 LTIPs 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 LTIPs issuance.
- [F9]These LTIP Units, or a portion thereof, may become earned based on the Issuer's achievement of certain performance conditions over a performance period commencing on the first anniversary of the grant and ending on the sixth anniversary of the grant. The LTIP units may be incrementally earned upon achievement of the following hurdle levels: 20% of the total number of LTIP Units can be earned on each date prior to the sixth anniversary of grant that the Issuer's shares achieve a closing price of $20.00, $22.00, $24.00, $26.00 and $28.00, respectively, for a consecutive 60-trading day period. To the extent earned, the LTIP Units will vest up to 50% on the third anniversary of grant and up to an additional 50% on the fourth anniversary of grant. [footnote continued]
Documents
Issuer
JBG SMITH Properties
CIK 0001689796
Entity typeother
Related Parties
1- filerCIK 0001256324
Filing Metadata
- Form type
- 4
- Filed
- Jan 5, 7:00 PM ET
- Accepted
- Jan 6, 8:21 PM ET
- Size
- 18.2 KB