PLD insider reports 80,000-share unit-to-stock conversion

Rhea-AI Filing Summary

Prologis (PLD): Director equity conversion reported. On 10/23/2025, a director reported acquiring 80,000 shares of common stock at $0.00, reflecting the conversion and redemption of Prologis limited partnership “Common Units” into common stock. Following the transaction, 80,000 shares were held directly, and 4,234 shares were held indirectly by the Linda P. Connor Declaration of Trust dated 6/30/05.

Derivative holdings include Dividend Equivalent Units under the Nonqualified Deferred Compensation Plan, with 6,462.313 units shown; DEUs accrue at the Prologis dividend rate and are paid as one share per unit alongside related Deferred Stock Units, per plan terms.

Insider Trade Summary

80,000 shares exercised/converted

Mixed 4 txns

Insider Connor James B.

Role Director

Type	Security	Shares	Price	Value
Conversion	Units	80,000	$0.00	--
Other	Common Stock	80,000	$0.00	--
holding	Dividend Equivalent Units-NQDC	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Units — 323,782 shares (Direct); Common Stock — 80,000 shares (Direct); Dividend Equivalent Units-NQDC — 6,462.313 shares (Direct); Common Stock — 4,234 shares (Indirect, By the Linda P. Connor Declaration of Trust, dated 6/30/05)

Footnotes (1)

1. Conversion of Prologis limited partnership units (the "Common Units") and redemption of Common Units for common stock. The units have no exercisable date or expiration date. Represents Dividend Equivalent Units (DEUs) earned on Deferred Stock Units (DSUs) associated with current service on our board that are deferred under the Prologis, Inc. Nonqualified Deferred Compensation Plan (the NQDC Plan). DEUs accrue on outstanding DSUs at the Prologis common stock dividend rate at the time dividends are paid on Prologis common stock. DEUs and the underlying DSUs vest 100% on the earlier of the first anniversary of the grant date or the first annual meeting of the stockholders of Prologis after the grant date (generally in May each year). The receipt of such DEUs is deferred along with the underlying DSUs. DSUs and DEUs are paid in the form of Prologis common stock at the rate of one common share per DSU or DEU. Balance in column 9 includes DSUs and DEUs.

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^*

Connor James B.

(Last) (First) (Middle)

C/O PROLOGIS, INC., PIER 1, BAY 1

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
10/23/2025

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

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

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

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
Common Stock	10/23/2025	10/23/2025	J		80,000	A	$0.00	80,000	D
Common Stock								4,234	I	By the Linda P. Connor Declaration of Trust, dated 6/30/05

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
Units	$0.00	10/23/2025	10/23/2025	C			80,000	(1)	(1)	Common Stock	80,000	$0.00	323,782	D
Dividend Equivalent Units-NQDC	$0.00							(2)	(2)	Common Stock	6,462.313		6,462.313	D

Explanation of Responses:

1. Conversion of Prologis limited partnership units (the "Common Units") and redemption of Common Units for common stock. The units have no exercisable date or expiration date.

2. Represents Dividend Equivalent Units (DEUs) earned on Deferred Stock Units (DSUs) associated with current service on our board that are deferred under the Prologis, Inc. Nonqualified Deferred Compensation Plan (the NQDC Plan). DEUs accrue on outstanding DSUs at the Prologis common stock dividend rate at the time dividends are paid on Prologis common stock. DEUs and the underlying DSUs vest 100% on the earlier of the first anniversary of the grant date or the first annual meeting of the stockholders of Prologis after the grant date (generally in May each year). The receipt of such DEUs is deferred along with the underlying DSUs. DSUs and DEUs are paid in the form of Prologis common stock at the rate of one common share per DSU or DEU. Balance in column 9 includes DSUs and DEUs.

	/s/ Tammy Colvocoresses, Attorney-In-Fact for James B. Connor	10/24/2025
	** 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.

FAQ

What insider transaction did Prologis (PLD) disclose?

A director reported acquiring 80,000 shares of common stock at $0.00 via conversion and redemption of limited partnership units on 10/23/2025.

How many Prologis (PLD) shares does the reporting person hold after the transaction?

Post-transaction holdings show 80,000 shares directly and 4,234 shares indirectly via a trust.

What does the $0.00 price indicate in the Prologis (PLD) Form 4?

It reflects a non-cash conversion/redemption of partnership units into common stock rather than an open-market purchase.

What derivative securities are referenced for Prologis (PLD)?

The filing lists Dividend Equivalent Units (DEUs) under the NQDC Plan, totaling 6,462.313 units.

How are DEUs and DSUs settled at Prologis (PLD)?

Per plan terms, each DEU or DSU is paid in one share of common stock, with vesting as described in the plan.

What is the relationship of the reporting person to Prologis (PLD)?

The reporting person is a Director.