Prologis (NYSE: PLD) director awarded 211 dividend equivalent units

Rhea-AI Filing Summary

OCONNOR DAVID P reported acquisition or exercise transactions in this Form 4 filing.

Prologis, Inc. director David P. O'Connor received 211.3144 Dividend Equivalent Units (DEUs) linked to Deferred Stock Units (DSUs) under the company’s Nonqualified Deferred Compensation Plan. These DEUs accrue at the Prologis common stock dividend rate and represent deferred stock-based compensation, not a cash purchase or sale.

The DEUs and underlying DSUs vest 100% on the earlier of the first anniversary of the grant date or the first annual stockholders meeting, generally in May each year. Payment occurs in Prologis common stock on a one-for-one basis per DSU or DEU, and the reported balance of 26,315.5603 units includes both DSUs and DEUs.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider OCONNOR DAVID P

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Units - NQDC	211.314	$0.00	--

Holdings After Transaction: Dividend Equivalent Units - NQDC — 26,315.56 shares (Direct)

Footnotes (1)

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Key Figures

Dividend Equivalent Units granted: 211.3144 units Transaction price per unit: $0.0000 Total DSUs and DEUs after transaction: 26,315.5603 units +1 more

4 metrics

Dividend Equivalent Units granted 211.3144 units DEUs earned on DSUs for current board service on NQDC Plan

Transaction price per unit $0.0000 Grant/award acquisition of DEUs, no cash consideration

Total DSUs and DEUs after transaction 26,315.5603 units Balance includes both Deferred Stock Units and Dividend Equivalent Units

Underlying common stock equivalence 211.3144 shares Each DEU corresponds to one Prologis common share upon payment

Key Terms

Dividend Equivalent Units (DEUs), Deferred Stock Units (DSUs), Nonqualified Deferred Compensation Plan, vest 100%, +1 more

5 terms

Dividend Equivalent Units (DEUs) financial

"Represents Dividend Equivalent Units (DEUs) earned on Deferred Stock Units (DSUs)"

Deferred Stock Units (DSUs) financial

"earned on Deferred Stock Units (DSUs) associated with current service on our board"

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

"deferred under the Prologis, Inc. Nonqualified Deferred Compensation Plan (the NQDC Plan)"

vest 100% financial

"DEUs and the underlying DSUs vest 100% on the earlier of the first anniversary"

paid in the form of Prologis common stock financial

"DSUs and DEUs are paid in the form of Prologis common stock at the rate of one common share"

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)
03/31/2026

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
Dividend Equivalent Units - NQDC	$0(1)	03/31/2026	03/31/2026	A		211.3144		(1)	(1)	Common Stock	211.3144	$0(1)	26,315.5603	D

Explanation of Responses:

1. 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 David P. O'Connor	04/02/2026
	** 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) director David P. O'Connor report in this Form 4?

David P. O'Connor reported receiving 211.3144 Dividend Equivalent Units (DEUs) tied to Deferred Stock Units. These awards are stock-based compensation accrued under Prologis’ Nonqualified Deferred Compensation Plan, rather than an open-market share purchase or sale.

What are Dividend Equivalent Units (DEUs) for Prologis (PLD)?

Dividend Equivalent Units are bookkeeping entries that mirror dividends on Deferred Stock Units at the Prologis common stock dividend rate. Over time they accumulate and are paid in Prologis common shares, one share for each DSU or DEU, when distribution occurs.

How many total Deferred Stock Units and Dividend Equivalent Units does the Prologis (PLD) director hold after this transaction?

After this transaction, the reported balance is 26,315.5603 units, including both Deferred Stock Units and Dividend Equivalent Units. This figure reflects the director’s deferred stock-based compensation position under the Prologis Nonqualified Deferred Compensation Plan.

When do the Prologis (PLD) DSUs and DEUs reported here vest?

The DSUs and related DEUs vest 100% on the earlier of the first anniversary of the grant date or the first annual Prologis stockholders meeting after the grant date, which generally occurs in May each year under the plan’s terms.

Will the Prologis (PLD) director receive cash or stock for these DEUs?

These awards are paid in Prologis common stock, not cash. Each Deferred Stock Unit or Dividend Equivalent Unit converts into one share of Prologis common stock when distributions are made under the Nonqualified Deferred Compensation Plan.