Forman Alan S 4
4 · JBG SMITH Properties · Filed May 1, 2026
Research Summary
AI-generated summary of this filing
JBG SMITH (JBGS) Director Alan Forman Receives LTIP Award
What Happened
- Alan S. Forman, a trustee/director of JBG SMITH Properties (JBGS), received a grant of 18,036 LTIP Units on 2026-04-30 under the JBG SMITH Properties 2017 Omnibus Share Plan. The grant is reported as an award (transaction code A); no purchase price or cash exchange was involved.
- The LTIP Units are convertible, at the holder’s option (subject to tax-related conditions), into an equal number of Operating Partnership Units (OP Units). After conversion, each OP Unit is redeemable for one common share of the issuer or the cash value of a common share at the issuer’s option, but redemption is only available after the two-year anniversary of the LTIP Units issuance. The LTIP Units are fully vested on the grant date but generally may not be sold while Mr. Forman serves as a trustee.
Key Details
- Transaction date: 2026-04-30; Form 4 filed 2026-05-01.
- Award: 18,036 LTIP Units; Price: N/A (grant).
- Corresponding Class B shares: Mr. Forman received corresponding Class B shares equal to his LTIP Units; those Class B shares have no economic rights and are not exchange-listed.
- Vesting/transfer restrictions: LTIP Units fully vested at grant but non-transferable while serving as trustee except in certain circumstances.
- Special note: Yale may be entitled to receive certain equity awards granted to Mr. Forman while he was employed by Yale, potentially affecting ultimate ownership.
- Shares owned after transaction: Not specified in the filing.
Context
- This is an award/grant (not a market purchase or sale). For retail investors, grants signal compensation or retention incentives rather than direct insider buying or selling; LTIP Units are a derivative award that can convert into OP Units and ultimately common shares after conditions/time requirements are met. The filing appears timely (filed the business day after the grant).
Insider Transaction Report
Form 4
Forman Alan S
Director
Transactions
- Award
LTIP Units
[F1][F2][F3][F4]2026-04-30+18,036→ 101,065 total→ Common Shares (18,036 underlying)
Footnotes (4)
- [F1]The reporting person received a grant of limited partnership units of JBG SMITH Properties LP, JBG SMITH Properties' (the "Issuer's") operating partnership (the "OP"), designated as LTIP Units ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, as amended. These LTIP Units are a class of units in the OP that 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 ("OP Units") in the OP. 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. The LTIP Units will be fully vested on the date of grant but may not be sold while the reporting person serves as a trustee, except in certain circumstances.
- [F2]Upon this grant of LTIP Units, the reporting person received corresponding Class B shares of the Issuer, which have no economic rights and are not listed on a stock exchange.
- [F3]For each of the LTIP Units beneficially owned by the reporting person, the reporting person holds a corresponding Class B share, which has no economic rights and is not listed on a stock exchange.
- [F4]Mr. Forman was previously an employee of Yale University, or Yale. Pursuant to an arrangement between Yale and Mr. Forman, Yale is entitled to receive, as of or prior to the time Mr. Forman ceases to serve as our trustee, certain equity awards granted to Mr. Forman while employed by Yale.
Signature
/s/ Steven A. Museles, attorney-in-fact|2026-05-01