SHUMAN D ELLEN 4
4 · JBG SMITH Properties · Filed May 1, 2026
Research Summary
AI-generated summary of this filing
JBG SMITH (JBGS) Director D. Ellen Shuman Receives Award
What Happened D. Ellen Shuman, a director of JBG SMITH Properties (JBGS), received a grant of 18,036 LTIP Units on 2026-04-30 (transaction code A — award). No purchase price or total dollar value was reported. The LTIP Units are a class of operating partnership units that are convertible, subject to certain tax-allocation conditions, into OP Units that are redeemable for one common share of the issuer (or cash) at the issuer’s option after a two-year anniversary. The LTIP Units are fully vested at grant but generally may not be sold while Shuman serves as a trustee. The filing also notes corresponding Class B shares were issued that carry no economic rights.
Key Details
- Transaction date: 2026-04-30; Form 4 filed: 2026-05-01 (appears timely).
- Security: 18,036 LTIP Units (derivative award); price/value: N/A (not disclosed).
- Conversion/restriction: LTIP Units convertible to OP Units (then redeemable for common shares or cash) after two years; fully vested but restricted from sale while serving as trustee.
- Related shares: Corresponding Class B shares issued; these have no economic rights and are not exchange-listed.
- Shares owned after transaction: not specified in the filing.
- Transaction type: Award/grant (compensation), not a market purchase or sale.
Context: This was a compensation award of partnership units rather than an open‑market buy or sale. Because the units are convertible and subject to holding/conversion conditions, the grant does not immediately change circulating common shares and does not by itself signal buying or selling intent.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3]2026-04-30+18,036→ 112,596 total→ Common Shares (18,036 underlying)
Footnotes (3)
- [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.