Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-09

JBG SMITH Properties (JBGS)

CEO W. Matthew Kelly was paid $5,521,861 in fiscal year 2025, ↓ down 39.8% from fiscal year 2024, the 8th percentile of its disclosed peer group (SEC filing 0001104659-26-030932 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$5,521,861 ↓
W. Matthew Kelly total, FY2025
8th
CEO pay percentile vs peers
51.1:1
CEO-to-median pay ratio
98.3%
Say-on-pay support, latest vote

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- W. Matthew Kelly (Chief Executive Officer), FY2025 total compensation $5,521,861 (base salary $750,000) [exec_comp, SEC accession 0001104659-26-030932, filed 2026-03-18]

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JBGS's next annual pay disclosure, estimated March 24, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
W. Matthew Kelly$750,000$1,260,000$3,499,994———$11,867$5,521,861
Chief Executive Officer
M. Moina Banerjee550,000924,000787,491———11,8672,273,358
Chief Financial Officer
George L. Xanders500,000840,000799,998———11,8672,151,865
Chief Investment Officer
Steven A. Museles400,000672,000597,492———11,8641,681,356
Chief Legal Officer
Evan Regan-Levine400,000672,000374,991———11,8551,458,846
Chief Strategy Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
W. Matthew Kelly$5,521,861$9,179,792$7,884,883↓ −3,657,931
M. Moina Banerjee2,273,358———
George L. Xanders2,151,8652,878,4632,347,389↓ −726,598
Steven A. Museles1,681,3562,211,5301,954,883↓ −530,174
Evan Regan-Levine1,458,846———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$5,521,861 W. Matthew Kelly total, FY2025

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Data as of June 9, 2026 · Source: 0001104659-26-030932 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against JBGS
25 companies name JBGS as a compensation peer

Each company listed discloses JBGS in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named JBGS in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Alan S. FormanIndependent Director$214,996
Alisa M. MallDirector$204,996
Carol A. MeltonDirector$204,996
D. Ellen ShumanIndependent Director$214,996
Michael J. GlossermanIndependent Director$209,996
Phyllis R. CaldwellIndependent Director$204,996
Robert A. StewartDirector$199,996
Scott A. EstesIndependent Director$224,996
William J. MulrowIndependent Director$214,996
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Scott A. EstesDirector2026-04-30A18,875——Derivative, Class A CommonForm 4 ↗
Michael J. GlossermanDirector2026-04-30A17,617——Derivative, Class A CommonForm 4 ↗
Alisa M. MallDirector2026-04-30A17,197——Derivative, Class A CommonForm 4 ↗
William J. MulrowDirector2026-04-30A18,036——Derivative, Class A CommonForm 4 ↗
D. Ellen ShumanDirector2026-04-30A18,036——Derivative, Class A CommonForm 4 ↗
Robert A. StewartDirector2026-04-30A16,778——Derivative, Class A CommonForm 4 ↗
Carol A. MeltonDirector2026-04-30A17,197——Derivative, Class A CommonForm 4 ↗
Alan S. FormanDirector2026-04-30A18,036——Derivative, Class A CommonForm 4 ↗
Phyllis R. CaldwellDirector2026-04-30A15,435——Derivative, Class A CommonForm 4 ↗
Steven A. MuselesChief Legal Off. & Corp. Secy2026-06-08D12,03215180,600CommonForm 4 ↗
Steven A. MuselesChief Legal Off. & Corp. Secy2026-06-08D7,97815119,670CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
W. Matthew KellyPSU2025-01-02—218,238—5$2,799,994
George L. XandersPSU2025-01-02425,906—51,813103,626
George L. XandersPSU2025-01-02—49,883—5639,999
George L. XandersRSU2025-01-02——49,883—639,999
W. Matthew KellyRSU2025-01-02——72,239—922,492
W. Matthew KellyRSU2025-01-02——218,238—2,799,994
George L. XandersPSU2025-01-02—24,079—6307,489
Evan Regan-LevineRSU2025-01-02——23,382—299,991
Steven A. MuselesRSU2025-01-02——37,256—477,994
W. Matthew KellyPSU2025-01-02—72,239—6922,492
George L. XandersPSU2025-01-0235,68747,583—59,479159,999
M. Moina BanerjeePSU2025-01-0235,13046,840—58,550157,500
W. Matthew KellyPSU2025-01-02156,133208,178—260,223700,000
W. Matthew KellyPSU2025-01-024113,341—226,683453,367
Evan Regan-LevinePSU2025-01-0216,72822,304—27,88175,000
George L. XandersRSU2025-01-02——24,079—307,489
Steven A. MuselesPSU2025-01-0226,65335,538—44,423119,498
M. Moina BanerjeeRSU2025-01-02——49,103—629,991
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
W. Matthew Kelly$3,722,486$4,875,853$056.7%
George L. Xanders947,4881,211,113056.1%
Evan Regan-Levine299,99175,000020.0%
Steven A. Museles477,994119,498020.0%
M. Moina Banerjee629,991157,500020.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
M. Moina BanerjeePSU10,500—$178,605
Steven A. MuselesPSU10,500—178,605
M. Moina BanerjeeRSU5,025—85,475
George L. XandersRSU4,568—77,702
Steven A. MuselesPSU4,150—70,592
Evan Regan-LevineRSU3,198—54,398
Evan Regan-LevinePSU1,316—22,385
W. Matthew KellyOption270,27032.3—
George L. XandersOption45,04532.3—
Steven A. MuselesOption42,56732.3—
Steven A. MuselesRSU43,000—731,430
W. Matthew KellyRSU163,347—2,778,532
George L. XandersPSU3,271—55,640
W. Matthew KellyPSU26,352—448,248
M. Moina BanerjeeRSU43,000—731,430
Steven A. MuselesRSU4,317—73,432
M. Moina BanerjeeLTIP25,501—433,772
M. Moina BanerjeeRSU36,753—625,169
W. Matthew KellyRSU84,696—1,440,679
W. Matthew KellyRSU218,238—3,712,228
Steven A. MuselesRSU37,256—633,725
W. Matthew KellyRSU27,412—466,278
Evan Regan-LevinePSU3,798—64,604
W. Matthew KellyRSU128,000—2,177,280
M. Moina BanerjeeOption49,54932.3—
W. Matthew KellyLTIP113,341—1,927,930
George L. XandersRSU49,883—848,510
M. Moina BanerjeeRSU49,103—835,242
George L. XandersRSU43,000—731,430
George L. XandersRSU37,335—635,068
Steven A. MuselesRSU13,338—226,879
W. Matthew KellyPSU31,500—535,815
Steven A. MuselesRSU27,885—474,324
George L. XandersLTIP25,906—440,661
Evan Regan-LevineRSU25,668—436,613
Evan Regan-LevineRSU23,382—397,728
George L. XandersPSU10,500—178,605
Steven A. MuselesLTIP19,349—329,126
M. Moina BanerjeePSU3,952—67,224
M. Moina BanerjeeRSU17,644—300,124
George L. XandersRSU16,232—276,106
Evan Regan-LevineRSU15,790—268,588
Evan Regan-LevineRSU14,116—240,113
Evan Regan-LevineLTIP12,143—206,552
05

Incentive-plan design — the Compensation Discussion & Analysis

The primary objectives of our executive compensation program are to (i) align the interests of our executives with those of our shareholders; (ii) attract and retain the highest caliber executives in our industry; and (iii) motivate executives to achieve corporate performance objectives as well as individual goals.

CEO STI target (% of salary)100%
CEO LTI target (% of salary)—
Independent consultantFerguson Partners Consulting
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-06-1922,751,320392,94545,90398.3%Passed
20212021-04-29108,262,63210,923,599329,62190.83%Passed
20202020-04-30113,600,8777,774,045101,77593.6%Passed
20192019-05-02103,454,1056,289,801126,69394.27%Passed
20182018-05-0396,129,5115,273,557141,39194.8%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20252025-06-1998.3%a
20212021-04-2990.83%b
20202020-04-3093.6%c

a. Approved under the standard stated in the filing — “For purposes of this Proposal 1, abstentions and other shares not voted (whether by broker non-vote or otherwise) will not be counted as votes cast and will have no effect on the result of the vote.”.

b. Approved under the standard stated in the filing — “For purposes of this Proposal 1, abstentions and other shares not voted (whether by broker non-vote or otherwise) will not be counted as votes cast and will have no effect on the result of the vote.”.

c. Approved under the standard stated in the filing — “For purposes of the vote on Proposal One, a majority of all votes cast means that the shares voted "FOR" the proposal must exceed the votes "AGAINST" the proposal, and therefore abstentions and other shares not voted (whether by broker non-vote or 8 Table of Contents otherwise) will not be counted as votes cast and will have no effect on the result of the vote.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)51.1 : 1
CEO total compensation$5,521,861
Median employee compensation$108,055
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Scott A. EstesIndependent · Audit (Chair)$125,000$99,996———$224,996
Alan S. FormanIndependent · Compensation (Chair)115,00099,996———214,996
William J. MulrowIndependent · Corporate Governance and Nominating (Chair)115,00099,996———214,996
D. Ellen ShumanIndependent · Audit · Compensation115,00099,996———214,996
Michael J. GlossermanIndependent · Audit110,00099,996———209,996
Phyllis R. CaldwellIndependent · Corporate Governance and Nominating105,00099,996———204,996
Alisa M. MallNot independent · Compensation105,00099,996———204,996
Carol A. MeltonNot independent · Corporate Governance and Nominating105,00099,996———204,996
Robert A. StewartNot independent · Not standing for re-election100,00099,996———199,996
W. Matthew KellyEmployee director · Board Chair—————0
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$100,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 15,000 / 15,000
Stock ownership guideline$500,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$995,000
Equity awards (grant-date value)$899,964
All other compensation$0
Total cost of the board$1,894,964

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies JBG SMITH Properties names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including JBG SMITH Properties.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1The Macerich Company2025Jackson Hsieh$1,000,000$10,826,050$0$0$15,047,450
2Empire State Realty Trust, Inc.2025Anthony Malkin896,9239,422,6970012,669,394
3Easterly Government Properties, Inc.2025Darrell Crate825,0008,508,5190930,00010,277,519
4Park Hotels & Resorts Inc.2025Thomas Baltimore Jr.1,100,0005,967,30702,661,5059,729,412
5Douglas Emmett, Inc.2025Jordan Kaplan800,0008,170,000009,012,069
6Cousins Properties Incorporated2025M. Colin Connolly791,8136,154,83001,705,5648,688,925
7Urban Edge Properties2025Jeffrey Olson1,100,0004,892,46502,091,2438,106,208
8COPT Defense Properties2025Stephen Budorick799,4235,085,41701,680,0007,582,340
9Veris Residential, Inc.2024Mahbod Nia800,0004,400,00002,169,7507,393,104
10Tanger Inc.2025Stephen Yalof900,0004,150,03601,809,3757,113,515
11Acadia Realty Trust2025Kenneth Bernstein850,0003,574,54402,486,8986,922,230
12Pebblebrook Hotel Trust2025Jon Bortz840,0003,592,19302,085,0006,589,254
13JBG SMITH Properties2025W. Matthew Kelly750,0003,499,994——5,521,861
14Hudson Pacific Properties, Inc.2025Victor Coleman1,000,000356,326—02,766,883

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
JBG SMITH Properties168%LTIP Units 10Yes — Relative TSRFerguson Partners Consulting
Acadia Realty Trust145%LTIP Units 100Yes — Relative TSR vs. Nareit Shopping Center IndexFerguson Partners Consulting (FPC)
COPT Defense Properties150%PSU 60 · LTIP Units 40Yes — Total Shareholder Return (TSR)Ferguson Partners Consulting, L.P.
Cousins Properties Incorporated143.6%PSU 60 · RSU 40NoFerguson Partners Consulting
Douglas Emmett, Inc.not disclosedLTIP Units 100Yes — Total Shareholder Return (TSR)FTI Consulting, Inc.
Easterly Government Properties, Inc.78%LTIP Units 100Yes — Absolute TSRFTI Consulting
Empire State Realty Trust, Inc.164%PSU 55 · LTIP Units 45Yes — TSR performance relative to the Nareit Office IndexFerguson Partners Consulting
Hudson Pacific Properties, Inc.not disclosedLTIP Units 50 · PSU 50Yes — Relative TSR vs. Nareit Office IndexFerguson Partners Consulting (FPC)
Park Hotels & Resorts Inc.138%PSU 60 · RSU 40Yes — Relative TSR vs. FTSE Nareit Lodging/Resorts IndexFerguson Partners Consulting L.P.
Pebblebrook Hotel Trust150%PSU 60 · LTIP Units 40Yes — Relative TSR Objectivenot disclosed
Tanger Inc.134.0%PSU 60 · RSU 40Yes — Absolute TSRFerguson Partners
The Macerich Company200%LTIP Units 100Yes — Relative TSR vs. Equity Peer REITsMeridian (effective June 25, 2025); FW Cook (prior to June 25, 2025)
Urban Edge Properties190%LTIP Units 100Yes — Absolute TSRFarient Advisors
Veris Residential, Inc.271.2%RSU 50 · PSU 50Yes — Absolute TSRFW Cook

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at JBG SMITH Properties in fiscal 2025?
As disclosed, W. Matthew Kelly (Chief Executive Officer) was the highest-paid executive at JBG SMITH Properties in fiscal 2025, with total compensation of $5,521,861.
How does JBG SMITH Properties's chief executive pay compare to its disclosed peer group?
As disclosed, W. Matthew Kelly's total compensation ranked at the 8th percentile of JBG SMITH Properties's disclosed peer group.
What is JBG SMITH Properties's CEO-to-median employee pay ratio?
As disclosed, JBG SMITH Properties's CEO-to-median employee pay ratio was 51.1:1.
How did shareholders vote on JBG SMITH Properties's executive compensation?
As disclosed, 98.3% of shareholders supported JBG SMITH Properties's executive compensation in the latest say-on-pay vote.
How much does JBG SMITH Properties spend in total on board compensation for fiscal 2025?
As disclosed, JBG SMITH Properties reported total board compensation of $1,894,964 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, W. Matthew KellyDEF 14A2026-03-180001104659-26-030932Section “Summary Compensation Table” · page 66. As printed: 5,521,861. Filing ↗
2Section 01, M. Moina BanerjeeDEF 14A2026-03-180001104659-26-030932Section “Summary Compensation Table” · page 66. As printed: 2,273,358. Filing ↗
3Section 01, George L. XandersDEF 14A2026-03-180001104659-26-030932Section “Summary Compensation Table” · page 66. As printed: 2,151,865. Filing ↗
4Section 01, Steven A. MuselesDEF 14A2026-03-180001104659-26-030932Section “Summary Compensation Table” · page 66. As printed: 1,681,356. Filing ↗
5Section 01, Evan Regan-LevineDEF 14A2026-03-180001104659-26-030932Section “Summary Compensation Table” · page 66. As printed: 1,458,846. Filing ↗
6Section 03, W. Matthew Kelly PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t260 · r3 · c7 · span 1130118–1130125
7Section 03, George L. Xanders PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r16 · c4 · span 1443844–1443850
8Section 03, George L. Xanders PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t260 · r5 · c7 · span 1138615–1138621
9Section 03, George L. Xanders RSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t260 · r5 · c7 · span 1138615–1138621
10Section 03, W. Matthew Kelly RSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r8 · c10 · span 1412603–1412609
11Section 03, W. Matthew Kelly RSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t260 · r3 · c7 · span 1130118–1130125
12Section 03, George L. Xanders PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r15 · c10 · span 1441305–1441311
13Section 03, Evan Regan-Levine RSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t260 · r6 · c7 · span 1142861–1142867
14Section 03, Steven A. Museles RSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t260 · r7 · c7 · span 1147107–1147113
15Section 03, W. Matthew Kelly PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r8 · c10 · span 1412603–1412609
16Section 03, George L. Xanders PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r14 · c6 · span 1436197–1436203
17Section 03, M. Moina Banerjee PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r11 · c6 · span 1423885–1423891
18Section 03, W. Matthew Kelly PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r7 · c6 · span 1407493–1407500
19Section 03, W. Matthew Kelly PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r9 · c4 · span 1415142–1415149
20Section 03, Evan Regan-Levine PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r18 · c6 · span 1452585–1452591
21Section 03, George L. Xanders RSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r15 · c10 · span 1441305–1441311
22Section 03, Steven A. Museles PSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t292 · r21 · c6 · span 1464845–1464851
23Section 03, M. Moina Banerjee RSUDEF 14A2026-03-180001104659-26-030932Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. Filing ↗machine: t260 · r4 · c7 · span 1134368–1134374
24Section 07, pay ratioDEF 14A2026-03-180001104659-26-030932Section “CEO Pay Ratio”. As printed: 51.1 : 1. Filing ↗machine: span 2326261–2326270
25Section 08, Scott A. EstesDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 224,996. Filing ↗
26Section 08, Alan S. FormanDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 214,996. Filing ↗
27Section 08, William J. MulrowDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 214,996. Filing ↗
28Section 08, D. Ellen ShumanDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 214,996. Filing ↗
29Section 08, Michael J. GlossermanDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 209,996. Filing ↗
30Section 08, Phyllis R. CaldwellDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 204,996. Filing ↗
31Section 08, Alisa M. MallDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 204,996. Filing ↗
32Section 08, Carol A. MeltonDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 204,996. Filing ↗
33Section 08, Robert A. StewartDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 199,996. Filing ↗
34Section 08, W. Matthew KellyDEF 14A2026-03-180001104659-26-030932Section “Director Compensation”. As printed: 0. Filing ↗
35Section 02, Scott A. Estes 2026-04-30Form 42026-05-010001104659-26-054234Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Michael J. Glosserman 2026-04-30Form 42026-05-010001104659-26-054237Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Alisa M. Mall 2026-04-30Form 42026-05-010001104659-26-054239Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, William J. Mulrow 2026-04-30Form 42026-05-010001104659-26-054241Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, D. Ellen Shuman 2026-04-30Form 42026-05-010001104659-26-054244Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Robert A. Stewart 2026-04-30Form 42026-05-010001104659-26-054246Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Carol A. Melton 2026-04-30Form 42026-05-010001104659-26-054248Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Alan S. Forman 2026-04-30Form 42026-05-010001104659-26-054235Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Phyllis R. Caldwell 2026-04-30Form 42026-05-010001104659-26-054233Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Steven A. Museles 2026-06-08Form 42026-06-090001104659-26-071827Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Steven A. Museles 2026-06-08Form 42026-06-090001104659-26-071827Insider equity transaction reported since the proxy statement. Filing ↗
46Section 06, 2025 voteForm 8-K2025-06-200001673985-25-000082Item 5.07 · say-on-pay result. As reported: 98.3% (votes for as printed: 22,751,320). Filing ↗
47Section 06, 2021 voteForm 8-K2021-04-300001104659-21-059084Item 5.07 · say-on-pay result. As reported: 90.83%. Filing ↗
48Section 06, 2020 voteForm 8-K2020-05-050001104659-20-056958Item 5.07 · say-on-pay result. As reported: 93.6% (votes for as printed: 113,600,877). Filing ↗machine: span 42173–43858
49Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
50Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
51Section 09b board cost (computed)Computed——Cash 995,000 + equity 899,964 + all other 0 = 1,894,964, summed across the director compensation table rows.machine: formula: Σ = 1,894,964
52The Macerich Company, Section 10b CEO totalDEF 14A2026-04-220001193125-26-170447CEO total compensation as printed in The Macerich Company's own proxy. As printed: 15,047,450. Filing ↗machine: r3 · c27 · span 743436–743446
53Empire State Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-038890CEO total compensation as printed in Empire State Realty Trust, Inc.'s own proxy. As printed: 12,669,394. Filing ↗machine: r1 · c18 · span 1693420–1693430
54Easterly Government Properties, Inc., Section 10b CEO totalDEF 14A2026-03-230001622194-26-000008CEO total compensation as printed in Easterly Government Properties, Inc.'s own proxy. As printed: 10,277,519. Filing ↗machine: t32 · r4 · c14 · span 1314670–1314680
55Park Hotels & Resorts Inc., Section 10b CEO totalDEF 14A2026-03-120001617406-26-000021CEO total compensation as printed in Park Hotels & Resorts Inc.'s own proxy. As printed: 9,729,412. Filing ↗
56Douglas Emmett, Inc., Section 10b CEO totalDEF 14A2026-04-170001364250-26-000020CEO total compensation as printed in Douglas Emmett, Inc.'s own proxy. As printed: 9,012,069. Filing ↗machine: span 506518–506527
57Cousins Properties Incorporated, Section 10b CEO totalDEF 14A2026-03-180000025232-26-000031CEO total compensation as printed in Cousins Properties Incorporated's own proxy. As printed: 8,688,925. Filing ↗machine: r2 · c6 · span 1749369–1749379
58Urban Edge Properties, Section 10b CEO totalDEF 14A2026-03-240001140361-26-010899CEO total compensation as printed in Urban Edge Properties's own proxy. As printed: 8,106,208. Filing ↗machine: r2 · c21 · span 876925–876934
59COPT Defense Properties, Section 10b CEO totalDEF 14A2026-03-300000860546-26-000017CEO total compensation as printed in COPT Defense Properties's own proxy. As printed: 7,582,340. Filing ↗machine: t88 · r2 · c25 · span 765245–765254
60Veris Residential, Inc., Section 10b CEO totalDEF 14A2025-04-290000924901-25-000035CEO total compensation as printed in Veris Residential, Inc.'s own proxy. As printed: 7,393,104. Filing ↗
61Tanger Inc., Section 10b CEO totalDEF 14A2026-03-260001628280-26-021249CEO total compensation as printed in Tanger Inc.'s own proxy. As printed: 7,113,515. Filing ↗machine: r5 · c33 · span 922980–922989
62Acadia Realty Trust, Section 10b CEO totalDEF 14A2026-03-310001193125-26-134606CEO total compensation as printed in Acadia Realty Trust's own proxy. As printed: 6,922,230. Filing ↗machine: span 777495–777504
63Pebblebrook Hotel Trust, Section 10b CEO totalDEF 14A2026-04-170001474098-26-000030CEO total compensation as printed in Pebblebrook Hotel Trust's own proxy. As printed: 6,589,254. Filing ↗
64JBG SMITH Properties (subject), Section 10b CEO totalDEF 14A2026-03-180001104659-26-030932CEO total compensation as printed in JBG SMITH Properties's own proxy. As printed: 5,521,861. Filing ↗
65Hudson Pacific Properties, Inc., Section 10b CEO totalDEF 14A2026-04-230001104659-26-047885CEO total compensation as printed in Hudson Pacific Properties, Inc.'s own proxy. As printed: 2,766,883. Filing ↗
66Section 10a, Urban Edge Properties reciprocityDEF 14A—0001140361-26-010899Urban Edge Properties's most recent proxy was read; its disclosed peer group does not include JBG SMITH Properties. Filing ↗
67Section 10a, Easterly Government Properties, Inc. reciprocityDEF 14A—0001622194-26-000008Easterly Government Properties, Inc. names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗
68Section 10a, Hudson Pacific Properties, Inc. reciprocityDEF 14A—0001104659-26-047885Hudson Pacific Properties, Inc. names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗
69Section 10a, Veris Residential, Inc. reciprocityDEF 14A—0000924901-25-000035Veris Residential, Inc. names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗
70Section 10a, Pebblebrook Hotel Trust reciprocityDEF 14A—0001474098-26-000030Pebblebrook Hotel Trust's most recent proxy was read; its disclosed peer group does not include JBG SMITH Properties. Filing ↗
71Section 10a, Tanger Inc. reciprocityDEF 14A—0001628280-26-021249Tanger Inc.'s most recent proxy was read; its disclosed peer group does not include JBG SMITH Properties. Filing ↗
72Section 10a, Acadia Realty Trust reciprocityDEF 14A—0001193125-26-134606Acadia Realty Trust names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗
73Section 10a, COPT Defense Properties reciprocityDEF 14A—0000860546-26-000017COPT Defense Properties names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗
74Section 10a, Cousins Properties Incorporated reciprocityDEF 14A—0000025232-26-000031Cousins Properties Incorporated names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗
75Section 10a, Douglas Emmett, Inc. reciprocityDEF 14A—0001364250-26-000020Douglas Emmett, Inc. names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗
76Section 10a, The Macerich Company reciprocityDEF 14A—0001193125-26-170447The Macerich Company names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗
77Section 10a, Park Hotels & Resorts Inc. reciprocityDEF 14A—0001617406-26-000021Park Hotels & Resorts Inc. names JBG SMITH Properties in its own disclosed peer group (read from its most recent proxy). Filing ↗

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