Angela Valdes - Aug 15, 2025 Form 4 Insider Report for JBG SMITH Properties (JBGS)

Role: Chief Accounting Officer
Signature: /s/ Steven A. Museles, attorney-in-fact
Stock symbol: JBGS
Transactions as of: Aug 15, 2025
Transactions value $: $0
Form type: 4
Date filed: 8/15/2025, 04:37 PM
Previous filing: Aug 1, 2025
Next filing: Sep 11, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Valdes Angela	Chief Accounting Officer	C/O JBG SMITH PROPERTIES, 4747 BETHESDA AVENUE, SUITE 200, BETHESDA	/s/ Steven A. Museles, attorney-in-fact	2025-08-15	0001498256

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	JBGS	Common Shares	Conversion of derivative security		+4.78K			4.78K	Aug 15, 2025	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	JBGS	LTIP Units	Conversion of derivative security		-4.78K	-4.44%		103K	Aug 15, 2025	Common Shares	4.78K		Direct	F1, F3
transaction	JBGS	OP Units	Conversion of derivative security		+4.78K			4.78K	Aug 15, 2025	Common Shares	4.78K		Direct	F1, F2, F3
transaction	JBGS	OP Units	Conversion of derivative security		-4.78K	-100%		0	Aug 15, 2025	Common Shares	4.78K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.