Director at JBG SMITH (NYSE: JBGS) receives 17,617 LTIP units
Rhea-AI Filing Summary
JBG SMITH Properties director Michael J. Glosserman received a grant of 17,617 LTIP Units in the company’s operating partnership under the 2017 Omnibus Share Plan. These LTIP Units are fully vested on the grant date but generally cannot be sold while he serves as a trustee, except in limited cases.
Each LTIP Unit can, after certain tax allocation conditions and a two-year anniversary, be converted into an Operating Partnership Unit that is redeemable for one common share or the cash value of a common share at the company’s option. Following this grant, Glosserman holds 71,216 LTIP Units directly and 19,309 LTIP Units indirectly via the Michael J. Glosserman Revocable Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Glosserman Michael J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 17,617 | $0.00 | $0.00 |
| holding | LTIP Units | -- | -- | -- |
Holdings After Transaction:
LTIP Units — 71,216 shares (Direct);
LTIP Units — 19,309 shares (Indirect, Michael J. Glosserman Revocable Trust)
Footnotes (5)
- 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. 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. 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.
- F3. 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.
- F4. 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.
- F5. Mr. Glosserman is the sole trustee and beneficiary of the Michael J. Glosserman Revocable Trust.
Key Figures
LTIP Units granted: 17,617 units
Direct LTIP holdings after grant: 71,216 units
Indirect LTIP holdings: 19,309 units
+1 more
4 metrics
LTIP Units granted
17,617 units
Grant of LTIP Units under 2017 Omnibus Share Plan
Direct LTIP holdings after grant
71,216 units
Total LTIP Units directly held following transaction
Indirect LTIP holdings
19,309 units
LTIP Units held via Michael J. Glosserman Revocable Trust
Exercise price
$0.0000 per unit
Conversion or exercise price for reported LTIP Units
Key Terms
LTIP Units, Operating Partnership Units, Class B shares, Revocable Trust
4 terms
LTIP Units financial
"limited partnership units of JBG SMITH Properties LP, designated as LTIP Units"
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")"
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.
Revocable Trust financial
"sole trustee and beneficiary of the Michael J. Glosserman Revocable Trust"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Michael J. Glosserman report at JBG SMITH (JBGS)?
Michael J. Glosserman reported receiving a grant of 17,617 LTIP Units in JBG SMITH’s operating partnership. The grant was made under the JBG SMITH Properties 2017 Omnibus Share Plan as a form of equity-based compensation tied to common shares.
How many LTIP Units does Michael J. Glosserman hold after this Form 4 filing for JBGS?
After the reported grant, Michael J. Glosserman holds 71,216 LTIP Units directly and 19,309 LTIP Units indirectly through the Michael J. Glosserman Revocable Trust. Each LTIP Unit is linked to one underlying common share of JBG SMITH Properties, subject to conversion conditions.
What are LTIP Units in JBG SMITH’s operating partnership as described in this Form 4?
LTIP Units are a class of limited partnership units in JBG SMITH Properties LP, the operating partnership. Subject to tax allocation conditions, they can be converted into Operating Partnership Units, which are redeemable for one common share or its cash value at JBG SMITH’s option after two years.
Are the LTIP Units granted to Michael J. Glosserman immediately vested and tradeable?
The LTIP Units are fully vested on the grant date, meaning no additional service is required for vesting. However, they generally may not be sold while he serves as a trustee, except in certain circumstances outlined in the grant terms and plan documentation.