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JBG SMITH (JBGS) director receives 16,778 LTIP Units tied to future shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Stewart Robert Alexander reported acquisition or exercise transactions in this Form 4 filing.

JBG SMITH Properties director Stewart Robert Alexander received a grant of 16,778 LTIP Units as equity compensation. These limited partnership units in JBG SMITH Properties LP are fully vested on the grant date and are convertible, after certain tax-related capital allocation conditions, into an equal number of Operating Partnership Units.

Each resulting OP Unit may later be redeemed, after the two-year anniversary of issuance, for either one common share of JBG SMITH Properties or the cash value of a common share, at the company’s option. Following this award, Alexander beneficially owns 220,666 LTIP Units. He also received corresponding Class B shares that match each LTIP Unit but carry no economic rights and are not exchange-listed.

Positive

  • None.

Negative

  • None.
Insider Stewart Robert Alexander
Role null
Type Security Shares Price Value
Grant/Award LTIP Units 16,778 $0.00 --
Holdings After Transaction: LTIP Units — 220,666 shares (Direct, null)
Footnotes (1)
  1. 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. 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. 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.
LTIP Units granted 16,778 units Grant of LTIP Units on April 30, 2026
Total LTIP Units held 220,666 units Beneficially owned after transaction
Redemption timing Two-year anniversary OP Units redeemable after two years from LTIP issuance
Common share equivalence 1 share per OP Unit Each OP Unit redeemable for one common share or cash value
LTIP Units financial
"designated as LTIP Units ("LTIP Units") pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Operating Partnership Units financial
"convertible ... into an equal number of Operating Partnership Units ("OP Units") in the OP"
Operating partnership units are ownership stakes in a limited partnership that typically sits under a real estate investment trust or similar corporate structure; each unit represents a claim on the partnership’s cash flow and assets and is often convertible into the parent company’s common shares. For investors, these units matter because they convey economic interest and potential voting influence, can be used to compensate managers, and may dilute or change the value of common shares — think of them as second-layer shares that interact with the main stock like shares in a holding company.
JBG SMITH Properties 2017 Omnibus Share Plan financial
"pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, as amended"
Class B shares financial
"the reporting person received corresponding Class B shares of the Issuer, which have no economic rights"
Class B shares are one type of a company’s stock that carries a specific set of rights — often different voting power or dividend rules compared with other classes. For investors, that affects influence over company decisions and potential income: owning Class B might mean fewer or more votes per share or different claim on profits, like having a different seat at a decision table or a different slice of the payout pie.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
X
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Stewart Robert Alexander
(Last)(First)(Middle)
C/O JBG SMITH PROPERTIES
4747 BETHESDA AVENUE, SUITE 200
(Street)
BETHESDA MARYLAND 20814
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
JBG SMITH Properties [ JBGS ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
LTIP Units(1)(2)04/30/2026A16,778 (1) (1)Common Shares16,778(1)220,666(3)D
Explanation of Responses:
1. 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.
2. 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.
3. 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.
/s/ Steven A. Museles, attorney-in-fact05/01/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did JBG SMITH (JBGS) director Stewart Robert Alexander report on this Form 4?

He reported receiving a grant of 16,778 LTIP Units as equity compensation. These units are in JBG SMITH Properties LP, are fully vested on grant, and can later convert into Operating Partnership Units linked to JBG SMITH common shares.

How many LTIP Units does Stewart Robert Alexander hold in JBG SMITH after this grant?

After this grant, he beneficially owns 220,666 LTIP Units. This total includes the newly awarded 16,778 units and represents his derivative equity interest tied to potential future JBG SMITH common shares or equivalent cash value redemptions.

What are LTIP Units in relation to JBG SMITH (JBGS) common shares?

LTIP Units are limited partnership units in JBG SMITH Properties LP that can convert into Operating Partnership Units. Each resulting OP Unit can later be redeemed for one JBG SMITH common share or its cash value, subject to conditions and timing described in the grant terms.

When can the LTIP Units reported in this JBGS Form 4 be redeemed into common shares or cash?

The resulting Operating Partnership Units may be redeemed after the two-year anniversary of the LTIP Units’ issuance. At that time, the holder can redeem for either one JBG SMITH common share per unit or the cash value of a common share, at the company’s option.

What are the Class B shares mentioned in Stewart Robert Alexander’s JBG SMITH Form 4?

For each LTIP Unit he beneficially owns, he holds a corresponding Class B share of JBG SMITH. These Class B shares have no economic rights, are not listed on a stock exchange, and essentially track his LTIP Unit holdings rather than providing financial value.

Are the LTIP Units granted to the JBG SMITH director immediately vested and tradable?

The LTIP Units are fully vested on the date of grant, meaning there is no further service-based vesting. However, they may not be sold while he serves as a trustee except in certain circumstances, and redemption into common shares is only allowed after the two-year anniversary.