Prologis (NYSE: PLD) director receives 1,695 deferred stock units award

Rhea-AI Filing Summary

Prologis, Inc. director David P. O’Connor received a grant of 1,695 Deferred Stock Units (DSUs). The DSUs were granted as compensation on April 28, 2026 and vest 100% on the earlier of the first anniversary of the grant or the first stockholder meeting after that date. They are generally deferred until April 28, 2029 and convert into common stock on a 1-for-1 basis, with dividend equivalent units added over time. Following this award, his direct DSU and DEU balance is 28,010.5603 units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider OCONNOR DAVID P

Role null

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units-NQDC	1,695	$0.00	--

Holdings After Transaction: Deferred Stock Units-NQDC — 28,010.56 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

DSUs granted: 1,695 units Total DSU/DEU balance: 28,010.5603 units Deferral date: April 28, 2029 +2 more

5 metrics

DSUs granted 1,695 units Deferred Stock Units granted April 28, 2026

Total DSU/DEU balance 28,010.5603 units Balance following transaction in column 9

Deferral date April 28, 2029 General deferral date under Nonqualified Deferred Compensation Plan

Conversion ratio 1-for-1 DSUs and DEUs convertible into Prologis common stock

Vesting trigger Earlier of 1-year or first meeting Vests on first anniversary or first annual stockholder meeting after grant

Key Terms

Deferred Stock Units (DSUs), Nonqualified Deferred Compensation Plan, dividend equivalent units (DEUs), convertible into Prologis common stock

4 terms

Deferred Stock Units (DSUs) financial

"Deferred Stock Units (DSUs) granted April 28, 2026, which vest 100% on the earlier..."

Deferred stock units (DSUs) are a form of long-term pay that promises an employee or director future company shares or cash equal to the share value at a later date, usually after leaving the company or at a set vesting time. Think of them as a delayed paycheck tied to the stock: they align recipients’ interests with long-term share performance and matter to investors because they create potential future dilution and signal how management is rewarded and incentivized.

Nonqualified Deferred Compensation Plan financial

"are deferred under the Prologis, Inc. Nonqualified Deferred Compensation Plan until April 28, 2029."

dividend equivalent units (DEUs) financial

"DSUs earn dividend equivalent units (DEUs) when dividends are paid with respect to Prologis common stock..."

convertible into Prologis common stock financial

"DSUs and accrued DEUs are convertible into Prologis common stock on a 1-for-1 basis."

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^*

OCONNOR DAVID P

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

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
Deferred Stock Units-NQDC	$0	04/28/2026	04/28/2026	A		1,695		(1)	(1)	Common Stock	1,695	$0(1)	28,010.5603	D

Explanation of Responses:

1. Deferred Stock Units (DSUs) granted April 28, 2026, which vest 100% on the earlier of the first anniversary of the grant date, or the first annual meeting of the stockholders of Prologis that occurs after the grant date, and generally, are deferred under the Prologis, Inc. Nonqualified Deferred Compensation Plan until April 28, 2029. DSUs earn dividend equivalent units (DEUs) when dividends are paid with respect to Prologis common stock and have no exercisable or expiration date. DSUs and accrued DEUs are convertible into Prologis common stock on a 1-for-1 basis. Balance in column 9 includes DSUs and DEUs.

	/s/ Tammy Colvocoresses, Attorney-in-Fact for David P. O'Connor	04/30/2026
	** 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 insider transaction did Prologis (PLD) director David P. O’Connor report?

David P. O’Connor reported receiving 1,695 Deferred Stock Units on April 28, 2026. These units represent a stock-based compensation award that will later convert into Prologis common shares, increasing his equity-linked exposure to the company over time as they vest and settle.

How do the new Prologis (PLD) Deferred Stock Units for David P. O’Connor vest?

The 1,695 Deferred Stock Units vest 100% on the earlier of the first anniversary of the April 28, 2026 grant or the first Prologis annual stockholder meeting thereafter. This structure ties vesting to either time passage or the company’s next annual shareholder meeting milestone.

When will David P. O’Connor’s Prologis (PLD) Deferred Stock Units generally be paid out?

The Deferred Stock Units are generally deferred under the Prologis Nonqualified Deferred Compensation Plan until April 28, 2029. At that time, the DSUs and accrued dividend equivalent units convert into Prologis common stock on a 1-for-1 basis, delivering actual shares to the director.

What is the total Prologis (PLD) DSU and DEU balance for David P. O’Connor after this grant?

After receiving 1,695 Deferred Stock Units, David P. O’Connor holds a total of 28,010.5603 units. This balance includes both DSUs and any dividend equivalent units credited, all of which are convertible into Prologis common stock on a 1-for-1 basis in the future.

Do Prologis (PLD) Deferred Stock Units for David P. O’Connor have an exercise or expiration date?

The filing states that Deferred Stock Units and related dividend equivalent units have no exercisable or expiration date. Instead, they are deferred and later converted into Prologis common stock on a 1-for-1 basis according to the specified distribution schedule in the deferred compensation plan.

How do dividend equivalent units (DEUs) work on Prologis (PLD) DSUs for David P. O’Connor?

Dividend equivalent units accrue on the Deferred Stock Units when Prologis pays dividends on its common stock. These DEUs increase the total unit balance and, along with the original DSUs, are ultimately convertible into Prologis common shares on a 1-for-1 basis at distribution.