UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously disclosed, on April 29, 2021, Steven Roth tendered his offer to resign as Chairman of the Board of Trustees (the “Board”) and a trustee of JBG SMITH Properties (the “Company”) to the Board. On May 13, 2021, following consideration of his offer to resign, in accordance with the Company’s Corporate Governance Guidelines, upon the recommendation of the Corporate Governance and Nominating Committee and in consideration of the results of the shareholders’ vote at the Company’s recent annual meeting, the Board accepted Mr. Roth’s offer to resign. Following Mr. Roth’s resignation, the size of the Board was reduced from 12 trustees to 11 trustees, and Mr. Robert Stewart was appointed Chairman of the Board.
The Board recognizes that the Company was created in 2017 by a spin-off of Vornado Realty Trust’s Washington D.C. division and merger with The JBG Companies, and accordingly Mr. Roth is co-founder of the Company and largely responsible for its creation. In recognition of this, the Board has designated Mr. Roth as Chairman Emeritus of the Company. The Board believes Mr. Roth’s 48 years of experience in commercial and residential real estate investment, development, and operations, as well as his deep familiarity with the assets contributed by Vornado Realty Trust in connection with the formation of the Company make him an invaluable resource. The Board intends to request his advice and Mr. Roth has agreed to continue to be available to advise the Board and management, and the Board and management look forward to his continued guidance in his new role.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| JBG SMITH PROPERTIES | |||
| By: | /s/ Steven A. Museles | ||
| Name: | Steven A. Museles | ||
| Title: | Chief Legal Officer and Corporate Secretary | ||
May 14, 2021