Prologis director awarded additional deferred stock units

Prologis, Inc. director James B. Connor received a grant of 52.7265 Dividend Equivalent Units (DEUs) under the company’s Nonqualified Deferred Compensation Plan.

Rhea-AI Filing Summary

Prologis, Inc. director James B. Connor received a grant of 52.7265 Dividend Equivalent Units (DEUs) under the company’s Nonqualified Deferred Compensation Plan. These DEUs were earned on Deferred Stock Units (DSUs) tied to his current board service and accrue at the Prologis common stock dividend rate.

The DEUs and underlying DSUs vest 100% on the earlier of the first anniversary of the grant date or the first annual meeting of stockholders, and settlement is deferred. When paid, each DSU or DEU converts into one share of Prologis common stock. After this grant, Connor directly holds a total of 6,566.1670 DSUs and DEUs combined.

Insider Trade Summary

Grant/Award: 52.7265 shares

Grant/Award 1 txn

Insider Connor James B.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Units - NQDC	52.7265	$0.00	$0.00

Holdings After Transaction: Dividend Equivalent Units - NQDC — 6,566.167 contracts (Direct)

Footnotes (1)

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.

Key Figures

Dividend Equivalent Units granted: 52.7265 units Grant price per DEU: $0.0000 Total DSUs and DEUs after grant: 6,566.1670 units

3 metrics

Dividend Equivalent Units granted 52.7265 units Grant of DEUs on 2026-03-31 for board service

Grant price per DEU $0.0000 Compensation-related award, not an open-market purchase

Total DSUs and DEUs after grant 6,566.1670 units Direct holdings following the 52.7265-unit award

Key Terms

Dividend Equivalent Units (DEUs), Deferred Stock Units (DSUs), Nonqualified Deferred Compensation Plan, Prologis common stock dividend rate

4 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)"

A nonqualified deferred compensation plan is an arrangement where an employer lets select employees postpone receiving part of their pay or bonuses until a future date, often at retirement, so taxes are paid later. It matters to investors because these payouts are typically unsecured promises by the company—like an internal IOU—so they create future cash obligations and expose the company to extra liability risk if the business falters, and they also reveal how executives are being paid and motivated.

Prologis common stock dividend rate financial

"DEUs accrue on outstanding DSUs at the Prologis common stock dividend rate"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

James B. Connor reported receiving 52.7265 Dividend Equivalent Units (DEUs) as a compensation-related award. The DEUs are tied to Deferred Stock Units from his board service and accrue based on the Prologis common stock dividend rate over time.

What are Dividend Equivalent Units (DEUs) in the Prologis (PLD) Form 4 filing?

Dividend Equivalent Units (DEUs) are bookkeeping units that mirror dividends on Deferred Stock Units. They accrue at the Prologis common stock dividend rate and, along with the underlying DSUs, are ultimately paid in Prologis common shares on a one-for-one basis after vesting.

How and when do Prologis (PLD) DSUs and DEUs for James B. Connor vest?

The DSUs and associated DEUs vest 100% on the earlier of the first anniversary of the grant date or the first annual meeting of Prologis stockholders. This vesting schedule ties the compensation to continued board service over roughly a one-year period.

Does the Prologis (PLD) Form 4 show an open-market stock trade by James B. Connor?

No, the filing shows a grant of 52.7265 Dividend Equivalent Units as compensation, not an open-market stock purchase or sale. These units are part of a deferred compensation arrangement settled later in Prologis common stock rather than an immediate cash transaction.

How many Deferred Stock Units and Dividend Equivalent Units does James B. Connor hold after this Prologis (PLD) grant?

Following this grant, James B. Connor’s balance in the relevant account is 6,566.1670 units. This total includes both Deferred Stock Units and Dividend Equivalent Units, all of which are ultimately payable in Prologis common stock on a one-for-one basis.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 06:49 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)
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		52.7265		(1)	(1)	Common Stock	52.7265	$0	6,566.167	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 James B. 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)