Prologis (NYSE: PLD) CAO details RSUs, LTIP units and stock stake
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Prologis, Inc. chief accounting officer Trisha Burns filed an initial Form 3 reporting her equity holdings in the company. The filing shows direct ownership of 3,510 shares of Common Stock.
She also holds several derivative awards tied to Prologis Common Stock. These include Restricted Stock Units from the Prologis Outperformance Plan covering 752, 1,179, and 413 underlying shares, which were granted in 2022 and 2023 and have long-dated vesting schedules extending to January 1, 2029 and January 1, 2030, as well as RSUs granted on November 28, 2022 that vest ratably over four years. In addition, she holds LTIP Units representing 10,735 underlying shares, each convertible into partnership units and ultimately redeemable for cash equal to the fair market value of a share of Common Stock or, at the company’s election, one share of Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Burns Trisha
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | LTIP Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 752 shares (Direct);
LTIP Units — 10,735 shares (Direct);
Common Stock — 3,510 shares (Direct)
Footnotes (1)
- Restricted Stock Units (RSUs) issued to the reporting person pursuant to the Prologis Outperformance Plan. The RSUs were granted on January 18, 2022 and vest 20% on grant date and 80% on January 1, 2029. RSUs have no exercise price or expiration date. Restricted Stock Units (RSUs) issued to the reporting person pursuant to the Prologis Outperformance Plan. The RSUs were granted on January 17, 2023 and vest 20% on grant date and 80% on January 1, 2030. RSUs have no exercise price or expiration date. Restricted Stock Units (RSUs) granted on November 28, 2022 and vest ratably over four years. The RSUs convert into Prologis Common Stock upon vesting on a 1-for-1 basis. RSUs have no exercise price or expiration date. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in Prologis, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of Common Stock of the Company (the "Common Stock"), except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested LTIP Units into Common Units and redeem Common Units have no expiration dates.
Key Figures
Direct Common Stock: 3,510 shares
RSUs (Outperformance Plan grant 2022 F1): 752 underlying shares
RSUs (Outperformance Plan grant 2023 F2): 1,179 underlying shares
+2 more
5 metrics
Direct Common Stock
3,510 shares
Common Stock directly held by Trisha Burns
RSUs (Outperformance Plan grant 2022 F1)
752 underlying shares
RSUs granted January 18, 2022 under Prologis Outperformance Plan
RSUs (Outperformance Plan grant 2023 F2)
1,179 underlying shares
RSUs granted January 17, 2023 under Prologis Outperformance Plan
RSUs (time-vest F3)
413 underlying shares
RSUs granted November 28, 2022 vesting ratably over four years
LTIP Units underlying shares
10,735 underlying shares
LTIP Units convertible into Common Units and then redeemable
Key Terms
Restricted Stock Units, Prologis Outperformance Plan, LTIP Units, Common Unit, +1 more
5 terms
Restricted Stock Units financial
"Restricted Stock Units (RSUs) issued to the reporting person pursuant to the Prologis Outperformance Plan."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Prologis Outperformance Plan financial
"Restricted Stock Units (RSUs) issued to the reporting person pursuant to the Prologis Outperformance Plan."
LTIP Units financial
"Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted..."
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Common Unit financial
"each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in Prologis, L.P. (a "Common Unit")."
A common unit is a single piece of ownership in a company, fund, or trust—similar to an ordinary share but often used for pooled vehicles or listings where securities are packaged or governed differently. It matters to investors because each unit represents a claim on profits and, commonly, voting power; like holding a seat at a table, the number of units you own affects your share of returns and influence, and unit structures can also affect liquidity and tax treatment.
redemption financial
"Each Common Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash..."
Redemption is when an issuer or holder settles a financial instrument by paying it off or returning it for cash, such as a bond being paid at maturity or a preferred share bought back by the company. It matters to investors because redemption changes when and how they get their money back, can cut off future income from the investment, and affects the issuer’s cash needs—think of it like a loan being paid off early or a store refunding a returned purchase.
FAQ
What does the Prologis (PLD) Form 3 filed by Trisha Burns show?
The Form 3 reports Chief Accounting Officer Trisha Burns’ initial equity holdings in Prologis, Inc., including 3,510 shares of Common Stock plus multiple Restricted Stock Unit awards and LTIP Units that are tied to Prologis Common Stock and vest over future years.
What Restricted Stock Unit (RSU) awards are disclosed for Trisha Burns at Prologis (PLD)?
The filing lists RSUs covering 752, 1,179 and 413 underlying Prologis Common shares. These were granted in 2022 and 2023, vesting partly at grant and largely on January 1, 2029 and January 1, 2030, or ratably over four years, then converting 1-for-1 into Common Stock.
What are the LTIP Units held by Trisha Burns in Prologis (PLD)?
Burns holds LTIP Units representing 10,735 underlying shares of Prologis Common Stock. Once vested and meeting tax allocation conditions, each LTIP Unit can convert into a partnership Common Unit, which may then be redeemed for cash or, at Prologis’ election, one share of Common Stock.
Do the Prologis (PLD) RSUs reported have an exercise price or expiration date?
The Restricted Stock Units disclosed for Trisha Burns have no exercise price and no expiration date. They vest according to specific schedules under the Prologis Outperformance Plan or over four years, then convert into Prologis Common Stock on a 1-for-1 basis upon vesting.