The Philadelphia 76ers traded veteran guard Reggie Jackson and a 2026 first-round pick to the Washington Wizards in exchange for Jared Butler and four second-rounders, the teams announced.

The Wizards announced they waived Jackson after the deal was completed.

The 2026 first-round selection headed to the Wizards will be the least favorable pick of the Houston Rockets, Los Angeles Clippers, and Oklahoma City Thunder.

Philadelphia is getting the most favorable 2027 second-rounder between the Golden State Warriors and Phoenix Suns; the Warriors' 2028 second-round pick; the most favorable 2030 second-rounder between the Suns and Portland Trail Blazers; and Washington's own 2030 second-rounder.

Jackson, 34, averaged 4.4 points and 1.5 assists in 31 appearances for Philadelphia but played just 12.4 minutes per game - the team's third-lowest mark among players with at least 10 games this season.

Butler, who's on a two-way contract for 2024-25 and in his fourth career season, has averaged 6.9 points in 11.3 minutes. He was inactive for eight of the team's past nine games while with Washington's G League affiliate.

The 76ers waived Pete Nance to open a two-way roster spot for Butler.