PLD Form 4: Director credited with DEUs and updated holdings
Rhea-AI Filing Summary
Prologis director George L. Fotiades reported acquisitions of Dividend Equivalent Units (DEUs) tied to deferred equity on 09/30/2025. The filing lists four DEU additions: 201.5187, 395.0936, 132.7357, and 251.4187, each paid in Prologis common stock when settled. Column balances after the transactions show holdings of 23,050.9415, 45,193.2325, 15,183.1181, and 28,758.7965 respectively. The entries reflect DEUs earned on previously held Deferred Stock Units (DSUs) and phantom shares under the company’s Nonqualified Deferred Compensation Plan; DEUs vest and are paid in shares per the plan terms. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Fotiades on 10/02/2025.
Positive
- DEUs were credited on 09/30/2025, updating insider holdings in Prologis common stock
- DEUs and underlying DSUs/phantom shares are payable 1:1 in common stock, clarifying settlement mechanics
- Vesting rules are specified (e.g., earlier of first anniversary or first annual meeting) for NQDC Plan awards
Negative
- None.
Insights
Director reported non-cash compensation in the form of DEUs on 09/30/2025.
The Form 4 discloses four DEU acquisitions tied to deferred compensation and past board service, totaling multiple incremental share credits on 09/30/2025. These units are non‑cash, accrue at the company’s dividend rate, and are payable in Prologis common stock per the NQDC Plan.
This matters because these entries update beneficial ownership records and reflect routine director compensation mechanics rather than open‑market trading.
Transactions are vesting/payment mechanics for DSUs/phantom shares, not exercised options or market purchases.
The filing explicitly describes DEUs that "vest upon issuance" or per plan vesting schedules and that DEUs and DSUs/phantom shares are paid at a rate of one common share per unit. Reported post‑transaction balances (e.g., 45,193.2325) aggregate the underlying deferred instruments.
For investors, these are administrative equity accruals reflecting deferred board pay; they do not represent cash flows or open‑market acquisitions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalent Units | 201.519 | $0.00 | -- |
| Grant/Award | Dividend Equivalent Units - NQDC | 395.094 | $0.00 | -- |
| Grant/Award | Dividend Equivalent Units - NQDC | 132.736 | $0.00 | -- |
| Grant/Award | Dividend Equivalent Units | 251.419 | $0.00 | -- |
Footnotes (1)
- Represents Dividend Equivalent Units (DEUs) earned on Deferred Stock Units (DSUs) associated with previous service on the board of ProLogis, our merger partner, and assumed by us in June 2011. DEUs accrue on outstanding DSUs at the Prologis common stock dividend rate at the time dividends are paid on Prologis common stock. DEUs vest upon issuance and the receipt of such DEUs is deferred, as are the underlying DSUs, during the period the reporting person serves as a director. 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. Represents DEUs earned on 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. Represents DEUs earned on director fees that the reporting person has elected to defer into phantom shares under the NQDC Plan. These phantom shares are vested upon issuance and accrue DEUs at the Prologis common stock dividend rate at the time dividends are paid on Prologis common stock. Phantom shares and DEUs are paid in the form of Prologis common stock at the rate of one common share per phantom share or DEU in accordance with the deferral election made by the reporting person, or upon termination of service. Balance in column 9 includes phantom shares and DEUs. Represents DEUs earned on phantom shares associated with previous service on the board of ProLogis, our merger partner, and assumed by us in June 2011. DEUs accrue on outstanding phantom shares at the Prologis common stock dividend rate at the time dividends are paid on Prologis common stock. DEUs vest upon issuance and the receipt of such DEUs is deferred in accordance with the deferral election made by the reporting person applicable to the underlying phantom shares. Phantom shares and DEUs are paid in the form of Prologis common stock at the rate of one common share per Phantom share or DEU. Balance in column 9 includes phantom shares and DEUs.
