<SEC-DOCUMENT>0001104659-26-017041.txt : 20260218
<SEC-HEADER>0001104659-26-017041.hdr.sgml : 20260218
<ACCEPTANCE-DATETIME>20260218160544
ACCESSION NUMBER:		0001104659-26-017041
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260213
FILED AS OF DATE:		20260218
DATE AS OF CHANGE:		20260218

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Valdes Angela
		CENTRAL INDEX KEY:			0001498256
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37994
		FILM NUMBER:		26648222

	MAIL ADDRESS:	
		STREET 1:		4747 BETHESDA AVENUE
		STREET 2:		SUITE 200
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JBG SMITH Properties
		CENTRAL INDEX KEY:			0001689796
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				814307010
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4747 BETHESDA AVENUE
		STREET 2:		SUITE 200
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
		BUSINESS PHONE:		240-333-3600

	MAIL ADDRESS:	
		STREET 1:		4747 BETHESDA AVENUE
		STREET 2:		SUITE 200
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Vornado DC Spinco
		DATE OF NAME CHANGE:	20161109
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm266560-2_4seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-02-13</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001689796</issuerCik>
        <issuerName>JBG SMITH Properties</issuerName>
        <issuerTradingSymbol>JBGS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001498256</rptOwnerCik>
            <rptOwnerName>Valdes Angela</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O JBG SMITH PROPERTIES</rptOwnerStreet1>
            <rptOwnerStreet2>4747 BETHESDA AVENUE, SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>BETHESDA</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>20814</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Accounting Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>LTIP Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2026-02-13</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>5067</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5067</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>114967</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person received a grant of limited partnership units in JBG SMITH Properties LP (the &quot;OP&quot;), JBG SMITH Properties' (the &quot;Issuer's&quot;) operating partnership, designated as LTIP Units (&quot;LTIPs&quot;), 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 (&quot;OP Units&quot;). The resulting OP Units are redeemable by the holder for one common share of the Issuer, par value $0.01 (a &quot;Common Share&quot;) 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.</footnote>
        <footnote id="F2">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.</footnote>
        <footnote id="F3">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.</footnote>
        <footnote id="F4">For each of the LTIPs beneficially owned by the reporting person, the reporting person holds a corresponding Class B share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Steven A. Museles, attorney-in-fact</signatureName>
        <signatureDate>2026-02-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
