4/A: JBG SMITH Properties Executive Reynolds Converts OP Units to Common Shares in Amended SEC Filing

Kevin Reynolds, Chief Development Officer of JBG SMITH Properties, amended his SEC Form 4 to correctly reflect the conversion of Operating Partnership Units (OP Units) into common shares.

Summary

• Kevin Reynolds, Chief Development Officer of JBG SMITH Properties, filed an amended SEC Form 4.
• The amendment corrects a previous filing to accurately reflect the conversion of 20,000 Operating Partnership Units (OP Units) into common shares on May 15, 2024.
• The original filing incorrectly stated that the OP Units were acquired instead of disposed of.
• Each OP Unit is redeemable for one common share or the cash value of a common share, at the Issuer's option.
• Reynolds indirectly owns 20,009 common shares and 340,253 OP Units through the Kevin Reynolds 2021 Inter Vivos Irrevocable Trust, for which his spouse is the primary beneficiary and a third party is the trustee.

Sentiment

Score: 6

Explanation: The document is a routine correction of a previously filed form. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Negatives

• The original SEC filing contained an error, misreporting the conversion of OP Units as an acquisition.

Industry Context

Executive transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. This particular transaction involves the conversion of OP Units to common shares, a common practice in real estate operating partnerships.

Key Dates