Prologis (NYSE: PLD) awards CAO 694 LTIP units vesting through 2030

Rhea-AI Filing Summary

Prologis, Inc. disclosed that Chief Accounting Officer Trisha Burns received a compensation grant of 694 LTIP Units of Prologis, L.P. at $0.01 per unit under the 2020 Long-Term Incentive Plan. The units vest 25% each on July 14 of 2027, 2028, 2029 and 2030, subject to continued employment, increasing her direct holdings to 11,429 LTIP Units. Once vested and after specified tax capital account conditions, each LTIP Unit can be converted into a Common Unit and then redeemed for cash equal to, or at the company’s election one share of, Prologis common stock, with no expiration dates on these rights.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Burns Trisha

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	694	$0.01	$6.94

Holdings After Transaction: LTIP Units — 11,429 shares (Direct)

Footnotes (1)

1. Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25% on each of 7/14/2027, 7/14/2028, 7/14/2029 and 7/14/2030 subject to continued employment. The LTIP Units were issued to the reporting person pursuant to the Prologis, Inc. 2020 Long-Term Incentive Plan (the "2020 LTIP"). 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

LTIP Units granted: 694 LTIP Units Grant price per LTIP Unit: $0.01 LTIP Units held after grant: 11,429 LTIP Units +4 more

7 metrics

LTIP Units granted 694 LTIP Units Equity award to Chief Accounting Officer Trisha Burns on 2026-07-14

Grant price per LTIP Unit $0.01 Stated transaction price per LTIP Unit in the award

LTIP Units held after grant 11,429 LTIP Units Direct LTIP Unit holdings for Trisha Burns following the award

Underlying common stock shares 694 shares Shares of Prologis common stock underlying the granted LTIP Units

Initial vesting date July 14, 2027 First 25% of LTIP Units vest on this date, subject to continued employment

Final vesting date July 14, 2030 Last 25% of LTIP Units vest on this date, subject to continued employment

Conversion or exercise price $0.00 Conversion or exercise price per LTIP Unit for underlying common stock

Key Terms

LTIP Units, capital accounts, Common Unit, fair market value

4 terms

LTIP Units financial

"Represents LTIP Units of Prologis, L.P. which vest 25% on each date"

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.

capital accounts financial

"Conditioned upon minimum allocations to the capital accounts of the LTIP Units"

Common Unit financial

"each vested LTIP Unit may be converted, at the election of the holder, into 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.

fair market value financial

"redeemed for cash equal to the then fair market value of a share of Common Stock"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/16/2026 - 07:00 PM Accepted by SEC EDGAR 07/16/2026 - 07:00 PM Learn about SEC filing dates

FAQ

What equity award did Prologis (PLD) grant to Chief Accounting Officer Trisha Burns?

Prologis granted Trisha Burns 694 LTIP Units of Prologis, L.P. at $0.01 per unit as a compensation award under the 2020 Long-Term Incentive Plan, linked to Prologis common stock through future conversion and redemption features.

How do the 694 LTIP Units granted to Trisha Burns at Prologis (PLD) vest?

The 694 LTIP Units vest in four equal installments of 25% each on July 14 of 2027, 2028, 2029 and 2030. Vesting is explicitly subject to continued employment through each vesting date.

What can the LTIP Units granted to Trisha Burns at Prologis (PLD) be converted into?

After vesting and certain tax capital account conditions, each LTIP Unit may convert into a Common Unit of Prologis, L.P. Each Common Unit can then be redeemed for cash equal to the fair market value of one Prologis common share or, at the company’s election, one share.

How many LTIP Units does Trisha Burns hold in Prologis (PLD) after this award?

Following the grant, Trisha Burns directly holds 11,429 LTIP Units of Prologis, L.P. This total includes the newly awarded 694 units and represents her reported LTIP Unit position after the transaction.

Is the Prologis (PLD) Form 4 transaction an open-market purchase or a compensation grant?

The Form 4 reports a grant/award acquisition of 694 LTIP Units, coded as A, which is a compensation-related equity award. It is not an open-market purchase or sale of Prologis common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Burns Trisha

(Last) (First) (Middle)

PIER 1, BAY 1

(Street)

SAN FRANCISCO CALIFORNIA 94111

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Prologis, Inc. [ PLD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Units(1)	$0	07/14/2026		A		694		(2)	(2)	Common Stock	694	$0.01	11,429	D

Explanation of Responses:

1. Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25% on each of 7/14/2027, 7/14/2028, 7/14/2029 and 7/14/2030 subject to continued employment. The LTIP Units were issued to the reporting person pursuant to the Prologis, Inc. 2020 Long-Term Incentive Plan (the "2020 LTIP").

2. 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.

	/s/ Tammy Colvocoresses Attorney-In-Fact for Trisha L Burns	07/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)