Prologis (PLD) CEO Daniel Letter converts 50,000 LTIP units in Form 4 filing

Rhea-AI Filing Summary

Prologis, Inc. Chief Executive Officer Daniel Letter reported an exercise and conversion of derivative securities tied to the company’s equity. He converted 50,000 LTIP Units at an exercise price of $0.01 per unit into an equivalent number of common-stock-linked units.

After this transaction, Letter directly holds 320,064 shares associated with Prologis common stock. A footnote explains that the LTIP Units of Prologis, L.P. were converted into common units and then redeemed for cash, and that these units have no exercisable or expiration date.

Insider Trade Summary

50,000 shares exercised/converted

Mixed 1 txn

Insider Letter Daniel

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	LTIP Units	50,000	$0.01	$500.00

Holdings After Transaction: LTIP Units — 320,064 shares (Direct, null)

Footnotes (1)

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Key Figures

LTIP Units exercised: 50,000 units Exercise price per LTIP Unit: $0.01 per unit Underlying common stock: 50,000 shares +1 more

4 metrics

LTIP Units exercised 50,000 units Derivative exercise/conversion on 2026-05-29

Exercise price per LTIP Unit $0.01 per unit Exercise or conversion of derivative security

Underlying common stock 50,000 shares Shares underlying exercised LTIP Units

Shares held after transaction 320,064 shares Direct holdings of Prologis common stock after exercise

Key Terms

LTIP Units, derivative security, Common Units, redemption for cash

4 terms

LTIP Units financial

"Conversion of LTIP Units (the "LTIP Units") of Prologis, L.P. into common units"

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.

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Common Units financial

"into common units of Prologis, L.P. (the "Common Units") and redemption of Common Units"

Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.

redemption for cash financial

"and redemption of Common Units for cash. The units have no exercisable date"

Form 4 Insider Transactions: What Each Field Means →

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^*

Letter Daniel

(Last) (First) (Middle)

C/O PROLOGIS, INC., 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

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	$0.00	05/29/2026	05/29/2026	M			50,000	(1)	(1)	Common Stock	50,000	$0.01	320,064	D

Explanation of Responses:

1. Conversion of LTIP Units (the "LTIP Units") of Prologis, L.P. into common units of Prologis, L.P. (the "Common Units") and redemption of Common Units for cash. The units have no exercisable date or expiration date.

	/s/ Tammy Colvocoresses Attorney-In-Fact for Daniel Letter	05/29/2026
	** 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)

FAQ

What did Prologis (PLD) CEO Daniel Letter report in this Form 4?

Daniel Letter reported exercising and converting 50,000 LTIP Units linked to Prologis equity. The transaction reflects an exercise of derivative securities and adjustment of his equity-linked position, rather than an open-market stock purchase or sale.

How many Prologis (PLD) shares does Daniel Letter hold after this transaction?

Following the transaction, Daniel Letter directly holds 320,064 shares associated with Prologis common stock. This figure represents his post-transaction direct ownership as reported in the Form 4, giving a sense of his ongoing equity exposure.

What is the size and price of the LTIP Units exercised in Prologis (PLD) filing?

The filing shows an exercise of 50,000 LTIP Units at an exercise price of $0.01 per unit. These LTIP Units are derivative securities tied to Prologis equity and were converted into common units before being redeemed for cash.

Does the Prologis (PLD) CEO Form 4 show an open-market stock sale or purchase?

No, the Form 4 reports an exercise and conversion of LTIP Units, not an open-market trade. The transaction involves derivative securities being converted and redeemed, rather than buying or selling Prologis common stock on the open market.

What does the footnote in the Prologis (PLD) Form 4 say about the LTIP Units?

The footnote states the LTIP Units were converted into common units of Prologis, L.P. and the common units were redeemed for cash. It also notes these units have no exercisable date or expiration date, clarifying the terms of the derivative securities.