JBG Smith brass awarded stock shares tied to Amazon deal

The officers of JBG Smith Properties (NYSE: JBGS) are reaping the rewards of the promise of HQ2.

On Nov. 12, the day before Amazon.com Inc. (NASDAQ: AMZN) publicly announced that Arlington would split the e-commerce and web service’s giant’s second headquarters with Long Island City in Queens, seven JBG Smith officers, including its CEO and CFO, received grants of common shares as part of the company’s long-term incentive plan, according to Securities and Exchange Commission filings.

JBG Smith awarded 447,501 LTIP units between the officers, equal to nearly $18 million at the JBG Smith stock price, as of noon Monday, of $40.16. 

According to the footnotes of the SEC Form 4, the LTIP units will vest in two equal installments on the fourth and fifth anniversaries of the date of the grant “conditioned upon the execution of certain definitive documentation with Amazon.”

What that Amazon “definitive documentation” is, is unclear, but it could be either an executed lease or closed…

Read the full story from the Washington Business Journal.