Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | JBG SMITH PROPERTIES |
Entity Central Index Key | 0001689796 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure pure in Thousands | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance Tables The following table sets forth information concerning the compensation actually paid to our Chief Executive Officer (“CEO”) and to our other NEOs compared to Company performance for the years ended December 31, 2022, 2021 and 2020. The disclosure included in this section is prescribed by SEC rules and does not necessarily align with how the Company or the Compensation Committee views the link between the Company’s performance and its NEO’s pay. For a discussion of how the Company views its executive compensation structure, including alignment with Company performance, see Compensation Discussion and Analysis beginning on page 43. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown. Year Summary (1)(2) CAP to (3)(4) Average (1)(2) Average (3)(4) Value of Initial Fixed TSR (5) Peer (5) GAAP (6) Operating (6) 2022 $ 7,884,144 $ (818,279 ) $ 2,534,133 $ 430,734 $ 52.69 $ 62.07 $ 98,986 $ 339,217 2021 $ 16,099,515 $ 7,353,930 $ 4,936,407 $ 2,880,696 $ 76.41 $ 99.51 $ (89,725 ) $ 332,034 2020 $ 7,396,015 $ 1,979,678 $ 2,193,868 $ 622,283 $ 80.78 $ 81.56 $ (67,261 ) $ 301,904 (1) For each year shown, the CEO was W. Matthew Kelly. For 2022, the other NEOs were David P. Paul, M. Moina Banerjee, Kevin “Kai” Reynolds and George L. Xanders. For 2021, the other NEOs were David P. Paul, M. Moina Banerjee, Kevin “Kai” Reynolds and Steven A. Museles. For 2020, the other NEOs were David P. Paul, M. Moina Banerjee, Kevin “Kai” Reynolds and Stephen W. Theriot. (2) The values reflected in this column reflect the “Total” compensation set forth in the Summary Compensation Table (“SCT”) on page 66. See the footnotes to the SCT for further detail regarding the amounts in this column. (3) Compensation actually paid (“CAP”) is defined by the SEC and is computed in accordance with SEC rules by subtracting the amounts in the “Stock Awards” column of the SCT for each year from the “Total” column of the SCT and then: (i) adding the fair value as of the end of the reported year of all awards granted during the reporting year that are outstanding and unvested as of the end of the reporting year; (ii) adding the amount equal to the change as of the end of the reporting year (from the end of the prior year) in fair value (whether positive or negative) of any awards granted in any prior year that are outstanding and unvested as of the end of the reporting year; (iii) adding, for awards that are granted and vest in the reporting year, the fair value as of the vesting date; (iv) adding the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value (whether positive or negative) of any awards granted in any prior year for which all applicable vesting conditions were satisfied at the end of or during the reporting year; (v) subtracting, for any awards granted in any prior year that are forfeited during the reporting year, the amount equal to the fair value at the end of the prior year; and (vi) adding the value of any dividends (or dividend equivalents) paid in the reporting year on unvested equity awards and the value of accrued dividends (or dividend equivalents) paid on performance awards that vested in the reporting year. The following tables reflect the adjustments made to SCT total compensation to compute CAP for our CEO and average CAP for our other NEOs. CEO SCT Minus Plus Plus Plus Plus Change Minus Plus Equals 2022 $ 7,884,144 $ (5,999,994 ) $ 3,210,671 $ (5,736,996 ) $ — $ (603,147 ) $ — $ 427,043 $ (818,279 ) 2021 $ 16,099,515 $ (14,215,815 ) $ 11,035,582 $ (3,648,491 ) $ — $ (94,366 ) $ (2,226,061 ) $ 403,568 $ 7,353,930 2020 $ 7,396,015 $ (5,999,965 ) $ 4,601,686 $ (2,036,456 ) $ — $ (555,809 ) $ (1,684,069 ) $ 258,277 $ 1,979,678 Other NEOs (Average) SCT Minus Plus Plus Plus Plus Change Minus Plus Equals 2022 $ 2,534,133 $ (1,212,483 ) $ 648,814 $ (1,467,596 ) $ — $ (171,444 ) $ — $ 99,310 $ 430,734 2021 $ 4,936,407 $ (3,630,832 ) $ 2,832,680 $ (890,744 ) $ — $ (19,024 ) $ (441,401 ) $ 93,610 $ 2,880,696 2020 $ 2,193,868 $ (1,143,725 ) $ 877,182 $ (612,985 ) $ — $ (212,395 ) $ (542,502 ) $ 62,841 $ 622,283 (4) Calculated in accordance with FASB ASC Topic 718. (5) Reflects the cumulative TSR of the Company and FTSE Nareit Equity Office Index for the year ended December 31, 2020, the two-years ended December 31, 2021 and the three years ended December 31, 2022, assuming a $100 investment at the closing price on December 31, 2019 and the reinvestment of all dividends. (6) Amounts in thousands. | ||
Company Selected Measure Name | Operating Portfolio NOI | ||
Named Executive Officers, Footnote [Text Block] | (1) | ||
Peer Group Issuers, Footnote [Text Block] | (5) Reflects the cumulative TSR of the Company and FTSE Nareit Equity Office Index for the year ended December 31, 2020, the two-years ended December 31, 2021 and the three years ended December 31, 2022, assuming a $100 investment at the closing price on December 31, 2019 and the reinvestment of all dividends. | ||
PEO Total Compensation Amount | $ 7,884,144 | $ 16,099,515 | $ 7,396,015 |
PEO Actually Paid Compensation Amount | $ (818,279) | 7,353,930 | 1,979,678 |
Adjustment To PEO Compensation, Footnote [Text Block] | CEO SCT Minus Plus Plus Plus Plus Change Minus Plus Equals 2022 $ 7,884,144 $ (5,999,994 ) $ 3,210,671 $ (5,736,996 ) $ — $ (603,147 ) $ — $ 427,043 $ (818,279 ) 2021 $ 16,099,515 $ (14,215,815 ) $ 11,035,582 $ (3,648,491 ) $ — $ (94,366 ) $ (2,226,061 ) $ 403,568 $ 7,353,930 2020 $ 7,396,015 $ (5,999,965 ) $ 4,601,686 $ (2,036,456 ) $ — $ (555,809 ) $ (1,684,069 ) $ 258,277 $ 1,979,678 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,534,133 | 4,936,407 | 2,193,868 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 430,734 | 2,880,696 | 622,283 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Other NEOs (Average) SCT Minus Plus Plus Plus Plus Change Minus Plus Equals 2022 $ 2,534,133 $ (1,212,483 ) $ 648,814 $ (1,467,596 ) $ — $ (171,444 ) $ — $ 99,310 $ 430,734 2021 $ 4,936,407 $ (3,630,832 ) $ 2,832,680 $ (890,744 ) $ — $ (19,024 ) $ (441,401 ) $ 93,610 $ 2,880,696 2020 $ 2,193,868 $ (1,143,725 ) $ 877,182 $ (612,985 ) $ — $ (212,395 ) $ (542,502 ) $ 62,841 $ 622,283 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Tabular List [Table Text Block] | Financial Performance Measures. Most Important Financial Performance Measures Operating Portfolio NOI Total Shareholder Return Core FFO Attributable to OP Units | ||
Total Shareholder Return Amount | $ 52.69 | 76.41 | 80.78 |
Peer Group Total Shareholder Return Amount | 62.07 | 99.51 | 81.56 |
Net Income (Loss) | $ 98,986,000 | $ (89,725,000) | $ (67,261,000) |
Company Selected Measure Amount | 339,217 | 332,034 | 301,904 |
PEO Name | W. Matthew Kelly | W. Matthew Kelly | W. Matthew Kelly |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Operating Portfolio NOI | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Total Shareholder Return | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Core FFO Attributable to OP Units | ||
PEO [Member] | Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (5,999,994) | $ (14,215,815) | $ (5,999,965) |
PEO [Member] | Value Of New Unvested Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 3,210,671 | 11,035,582 | 4,601,686 |
PEO [Member] | Change In Value Of Prior Years Unvested Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (5,736,996) | (3,648,491) | (2,036,456) |
PEO [Member] | Change In Value Of Prior Years Vested Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (603,147) | (94,366) | (555,809) |
PEO [Member] | Dividends On Unvested Awards Or Accrued Dividends [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 427,043 | 403,568 | 258,277 |
PEO [Member] | Value Of Forfeited Prior Years Award [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,226,061) | (1,684,069) | |
Non-PEO NEO [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,212,483) | (1,143,725) | |
Non-PEO NEO [Member] | Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,630,832) | ||
Non-PEO NEO [Member] | Value Of New Unvested Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 648,814 | 2,832,680 | 877,182 |
Non-PEO NEO [Member] | Change In Value Of Prior Years Unvested Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,467,596) | (890,744) | (612,985) |
Non-PEO NEO [Member] | Change In Value Of Prior Years Vested Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (171,444) | (19,024) | (212,395) |
Non-PEO NEO [Member] | Dividends On Unvested Awards Or Accrued Dividends [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 99,310 | 93,610 | 62,841 |
Non-PEO NEO [Member] | Value Of Forfeited Prior Years Award [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (441,401) | $ (542,502) |