Prologis director awarded dividend equivalent units

Prologis, Inc. director James B. Connor reported routine compensation-related equity activity tied to his board service.

Rhea-AI Filing Summary

Prologis, Inc. director James B. Connor reported routine compensation-related equity activity tied to his board service. He was credited 49.5754 Dividend Equivalent Units (DEUs) under the company’s nonqualified deferred compensation plan, which accrue at the Prologis common stock dividend rate.

After this grant, his deferred balance tied to this award type totals 6,326.1932 DEUs and Deferred Stock Units (DSUs). He also holds Units linked to 323,782 shares of Prologis common stock, with no exercise price or expiration date. The filing does not show any open-market buying or selling of Prologis shares.

Insider Trade Summary

Grant/Award: 49.5754 shares

Grant/Award 2 txns

Insider Connor James B.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Units - NQDC	49.5754	$0.00	$0.00
holding	Units	--	--	--

Holdings After Transaction: Dividend Equivalent Units - NQDC — 6,326.1932 contracts (Direct); Units — 323,782 contracts (Direct)

Footnotes (2)

1. F1. 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.
2. F2. The units have no exercisable date or expiration date.

Key Figures

Dividend Equivalent Units granted: 49.5754 units Deferred DSU/DEU balance: 6,326.1932 units Units underlying common stock: 323,782 shares +1 more

4 metrics

Dividend Equivalent Units granted 49.5754 units DEUs credited on 2026-06-30 under NQDC plan

Deferred DSU/DEU balance 6,326.1932 units Balance after DEU grant in deferred column

Units underlying common stock 323,782 shares Units linked to Prologis common stock, direct holding

Exercise price of Units $0.0000 per unit Units and related awards carry no exercise price

Key Terms

Dividend Equivalent Units (DEUs), Deferred Stock Units (DSUs), Nonqualified Deferred Compensation Plan (NQDC Plan), vesting, +1 more

5 terms

Dividend Equivalent Units (DEUs) financial

"Represents Dividend Equivalent Units (DEUs) earned on Deferred Stock Units (DSUs) associated with current service on our board"

Deferred Stock Units (DSUs) financial

"Represents Dividend Equivalent Units (DEUs) 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 (NQDC Plan) financial

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

vesting financial

"DEUs and the underlying DSUs vest 100% on the earlier of the first anniversary of the grant date or the first annual meeting"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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 per DSU or DEU"

FAQ

What insider activity did Prologis (PLD) director James B. Connor report?

James B. Connor reported a grant of 49.5754 Dividend Equivalent Units (DEUs) under Prologis’ nonqualified deferred compensation plan, reflecting dividend credits on deferred stock units related to his board service, with no open-market share purchases or sales disclosed.

How many dividend-related deferred units does Prologis (PLD) director Connor now hold?

Following the latest grant, James B. Connor’s balance in the deferred account column includes 6,326.1932 Deferred Stock Units and Dividend Equivalent Units, all tied to Prologis common stock and payable as one share per DSU or DEU when ultimately settled.

Were any Prologis (PLD) shares bought or sold on the open market in this Form 4?

No open-market purchases or sales are shown. The filing records a compensation-related acquisition of 49.5754 Dividend Equivalent Units, plus a holding entry for existing Units, rather than discretionary trading in Prologis common stock on an exchange.

What are Dividend Equivalent Units (DEUs) and DSUs in the Prologis (PLD) plan?

Dividend Equivalent Units accrue on Deferred Stock Units at the Prologis common stock dividend rate. Both DSUs and DEUs vest fully on the earlier of one year after grant or the next annual stockholders’ meeting and are paid in Prologis common stock, one share per unit.

Do Prologis (PLD) Units and related awards held by Connor have an expiration date?

The Units reported, which are linked to 323,782 underlying Prologis common shares, have no exercisable date or expiration date. DSUs and DEUs vest on the schedule described, then are ultimately settled in common stock under the plan’s terms.

How is Prologis (PLD) director compensation reflected in this Form 4 filing?

Director compensation is reflected through Deferred Stock Units and Dividend Equivalent Units, not cash. DEUs are credited when Prologis pays dividends, and both DSUs and DEUs are deferred and later settled in Prologis common stock at a one-to-one share-to-unit ratio.

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Accepted by SEC EDGAR 07/02/2026 - 05:00 PM Learn about SEC filing dates

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 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)
06/30/2026

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)	06/30/2026	06/30/2026	A		49.5754		(1)	(1)	Common Stock	49.5754	$0	6,326.1932	D
Units	$0							(2)	(2)	Common Stock	323,782		323,782	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.

2. The units have no exercisable date or expiration date.

	/s/ Tammy Colvocoresses, Attorney-In-Fact for James B. Connor	07/02/2026
	** 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)