SEC Form 4 · accession 0001104659-18-050162
JBG SMITH Properties · JBGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Glosserman
Director
Period of report
Aug 6, 2018
Accepted (ET)
Aug 7, 2018 · 4:17 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001689796
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1 | Aug 6, 2018 | C | 16,000 | — | A | 16,000 | I | By Glosserman Family JBG Operating, L.L.C. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OP UnitsF1,F3 | — | Aug 6, 2018 | C | 16,000 | D | — | — | Common Shares | 16,000 | 129,683 | I |
| OP UnitsF4,F1 | — | holding | — | — | — | — | — | Common Shares | 437,050 | 437,050 | D |
| OP UnitsF2 | — | holding | — | — | — | — | — | Common Shares | 37,550 | 474,600 | D |
| OP UnitsF2 | — | holding | — | — | — | — | — | Common Shares | 647 | 647 | I |
| OP UnitsF2 | — | holding | — | — | — | — | — | Common Shares | 98,437 | 98,437 | I |
| OP UnitsF2 | — | holding | — | — | — | — | — | Common Shares | 95,660 | 95,660 | I |
| OP UnitsF3,F4,F1 | — | holding | — | — | — | — | — | Common Shares | 14,117 | 14,117 | I |
Explanation of responses
- F1Each Operating Partnership Unit ("OP Unit") in JBG SMITH Properties LP, the operating partnership of JBG SMITH Properties (the "Issuer"), is redeemable by the holder for one common share of the Issuer, par value $0.01 (a "Common Share"), or the cash value of a Common Share, at the Issuer's option, beginning August 1, 2018. 50% of these OP Units vested July 18, 2017 and 50% are scheduled to vest in equal monthly installments, beginning on February 1, 2020 and ending on July 1, 2022, subject to the reporting person's continued service on the Issuer's Board of Trustees through each vesting date.
- F2Each of these OP Units is redeemable by the holder for one Common Share, or the cash value of a Common Share, at the Issuer's option, beginning August 1, 2018. The OP Units were fully vested on the date of grant.
- F3The Form 4 filed for Mr. Glosserman on July 20, 2018 inadvertently reported indirect ownership of 3,529 OP Units through Glosserman Family JBG Operating, L.L.C., when in fact these OP Units were and are owned indirectly through JBG Properties, Inc. The number of OP Units reported as indirectly owned through Glosserman Family JBG Operating, L.L.C and JBG Properties, Inc. has been adjusted to correct this error.
- F4The Form 4 filed for Mr. Glosserman on July 20, 2018 inadvertently reported as directly owned 10,588 OP Units which in fact were and are owned indirectly, through JBG Properties, Inc., as reported herein.