JBG SMITH (NYSE: JBGS) grants CAO Angela Valdes 5,067 LTIP units

Rhea-AI Filing Summary

JBG SMITH Properties Chief Accounting Officer Angela Valdes was granted 5,067 LTIP Units on February 13, 2026. These limited partnership units in JBG SMITH Properties LP were awarded at a price of $0.00 per unit under the company’s 2017 Omnibus Share Plan. The LTIP Units vest in four equal 25% installments on each of the first through fourth anniversaries of February 13, 2026, contingent on her continued employment. Once vested and after a two-year period from issuance, the LTIP Units can be converted into operating partnership units and then redeemed, at the company’s option, for either one common share per unit or the cash value of a common share. In connection with the grant, she also received corresponding Class B shares, which carry no economic rights and are not exchange‑listed.

SEC Form 4

FORM 4

UNITED 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

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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^*

Valdes Angela

(Last) (First) (Middle)

C/O JBG SMITH PROPERTIES

4747 BETHESDA AVENUE, SUITE 200

(Street)

BETHESDA MD 20814

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
JBG SMITH Properties [ JBGS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Units	(1)(2)(3)	02/13/2026		A		5,067		(1)(2)	(1)(2)	Common Shares	5,067	(1)(2)	114,967(4)	D

Explanation of Responses:

1. 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 LTIP Units ("LTIPs"), pursuant to the JBG SMITH Properties 2017 Omnibus Share Plan, as amended. 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 operating partnership units in the OP ("OP Units"). 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 LTIPs issuance.

2. The LTIPs vest 25% on each of the first through fourth anniversaries of February 13, 2026, subject to the reporting person's continued employment through each vesting date.

3. Upon the grant of these 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.

4. For each of the LTIPs beneficially owned by the reporting person, the reporting person holds a corresponding Class B share.

	/s/ Steven A. Museles, attorney-in-fact	02/18/2026
	** Signature of Reporting Person	Date
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.

FAQ

What insider transaction did JBG SMITH (JBGS) report for Angela Valdes?

JBG SMITH reported that Chief Accounting Officer Angela Valdes received a grant of 5,067 LTIP Units on February 13, 2026. These units were awarded at $0.00 per unit under the company’s 2017 Omnibus Share Plan and increase her derivative equity holdings.

What are the LTIP Units granted to Angela Valdes at JBG SMITH (JBGS)?

The LTIP Units are limited partnership units in JBG SMITH Properties LP granted under the 2017 Omnibus Share Plan. If they vest and meet tax allocation conditions, each LTIP Unit can be converted into an operating partnership unit and then redeemed for one common share or its cash value.

What is the vesting schedule for Angela Valdes’s 5,067 LTIP Units at JBGS?

The 5,067 LTIP Units granted to Angela Valdes vest in four equal 25% installments. Vesting occurs on each of the first through fourth anniversaries of February 13, 2026, and is conditioned on her continued employment through each respective vesting date.

Can Angela Valdes’s LTIP Units at JBG SMITH (JBGS) convert into common shares?

If vested and tax allocation conditions are satisfied, each LTIP Unit is convertible at her option into one operating partnership unit. Each resulting operating partnership unit is redeemable after the two-year anniversary of issuance for one common share or the cash value of a common share, at the company’s option.

Did Angela Valdes pay anything for the 5,067 LTIP Units granted by JBG SMITH?

The LTIP Units were granted to Angela Valdes at a stated price of $0.00 per unit. This indicates they were awarded as equity compensation under the 2017 Omnibus Share Plan rather than purchased in an open‑market or cash transaction.

What are the Class B shares mentioned in Angela Valdes’s JBGS Form 4?

Along with the LTIP Units, Angela Valdes received corresponding Class B shares of JBG SMITH. These Class B shares have no economic rights, are not listed on any stock exchange, and exist on a one‑for‑one basis with each LTIP Unit she beneficially owns.