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JBG SMITH (JBGS) director Alan Forman receives 18,036 LTIP Units equity award

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Form Type
4

Rhea-AI Filing Summary

Forman Alan S reported acquisition or exercise transactions in this Form 4 filing.

JBG SMITH Properties director Alan S. Forman received an equity-based award of 18,036 LTIP Units. These LTIP Units were granted at a price of $0.00 per unit under the JBG SMITH Properties 2017 Omnibus Share Plan and are fully vested on the grant date.

Each LTIP Unit is convertible, after certain tax-related capital allocation conditions and after the two-year anniversary of issuance, into one Operating Partnership Unit, which may then be redeemed for either one common share or the cash value of a common share at the company’s option. Following this grant, Forman directly holds 101,065 LTIP Units, which may not be sold while he serves as a trustee except in limited circumstances. He also received corresponding Class B shares that carry no economic rights and are not exchange-listed.

Positive

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Insider Forman Alan S
Role null
Type Security Shares Price Value
Grant/Award LTIP Units 18,036 $0.00 --
Holdings After Transaction: LTIP Units — 101,065 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. Mr. Forman was previously an employee of Yale University, or Yale. Pursuant to an arrangement between Yale and Mr. Forman, Yale is entitled to receive, as of or prior to the time Mr. Forman ceases to serve as our trustee, certain equity awards granted to Mr. Forman while employed by Yale.
LTIP Units granted 18,036 LTIP Units Award to director Alan S. Forman on April 30, 2026
Grant price $0.00 per LTIP Unit Equity award under 2017 Omnibus Share Plan
LTIP Units after transaction 101,065 LTIP Units Total derivative securities beneficially owned following award
Underlying common shares 18,036 common shares One common share underlying each newly granted LTIP Unit
Vesting status Fully vested on grant date LTIP Units vest immediately but have sale restrictions
Redemption waiting period Two-year anniversary OP Units redeemable for common shares or cash after two years
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 at the option of the holder ... 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.
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.
beneficially owned financial
"For each of the LTIP Units beneficially owned by the reporting person, the reporting person holds a corresponding Class B share"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
par value financial
"one common share of the Issuer, par value $0.01 (a "Common Share") per OP Unit"
Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.
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
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*
Forman Alan S
(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)04/30/2026A18,036 (1) (1)Common Shares18,036(1)101,065(3)D(4)
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.
4. Mr. Forman was previously an employee of Yale University, or Yale. Pursuant to an arrangement between Yale and Mr. Forman, Yale is entitled to receive, as of or prior to the time Mr. Forman ceases to serve as our trustee, certain equity awards granted to Mr. Forman while employed by Yale.
/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 Alan S. Forman report in this JBG SMITH (JBGS) Form 4 filing?

Alan S. Forman reported receiving 18,036 LTIP Units of JBG SMITH Properties’ operating partnership as an equity award. The units were granted at $0.00 per unit and increase his directly held LTIP Units to 101,065 after the transaction, according to the filing’s transaction table.

How can the 18,036 LTIP Units reported for JBG SMITH (JBGS) be converted?

Each LTIP Unit can be converted, after specified tax capital allocation conditions, into one Operating Partnership Unit. That Operating Partnership Unit is then redeemable for either one common share of JBG SMITH Properties or the cash value of a common share, at the issuer’s option, after a two-year period.

When can the LTIP Units in this JBG SMITH (JBGS) Form 4 be redeemed for common shares or cash?

The LTIP Units become redeemable for one common share or the cash value of a common share per unit after the two-year anniversary of their issuance. Redemption occurs through conversion into Operating Partnership Units, then redemption at JBG SMITH Properties’ option, subject to the conditions described.

Are the LTIP Units granted to Alan S. Forman in JBG SMITH (JBGS) immediately vested?

The LTIP Units are fully vested on the grant date, according to the filing’s footnote. However, they may not be sold while Mr. Forman serves as a trustee, except in certain specified circumstances, and full economic realization depends on conversion and redemption mechanics.

What are the Class B shares referenced in the JBG SMITH (JBGS) Form 4 footnotes?

For each LTIP Unit beneficially owned, Mr. Forman holds a corresponding Class B share of JBG SMITH Properties. These Class B shares have no economic rights, are not listed on a stock exchange, and function primarily as a corresponding security linked to the LTIP Units.

How many LTIP Units does Alan S. Forman hold after this JBG SMITH (JBGS) award?

After receiving the 18,036 LTIP Unit award, Mr. Forman directly holds a total of 101,065 LTIP Units. This post-transaction holding includes the newly granted units and is reported as the total derivative securities beneficially owned following the transaction.