Prologis Insider Filing: Routine 21.86 DEU Accrual by Director Slusser

Rhea-AI Filing Summary

Prologis, Inc. (PLD) – Form 4 insider filing

Director Sarah A. Slusser reported one transaction dated 06/30/2025 involving 21.8584 Dividend Equivalent Units (DEUs) linked to previously granted Deferred Stock Units (DSUs). The DEUs accrue automatically at the common-stock dividend rate and are priced at $0; therefore, no cash changed hands and the transaction was non-open-market (code “A”).

Following the credit, Slusser’s total derivative holdings under the Non-Qualified Deferred Compensation Plan rose to 2,296.8584 units, each convertible into one share of Prologis common stock upon distribution. No non-derivative (direct common-stock) trades were disclosed, and there were no sales.

This filing reflects routine board compensation mechanics rather than a discretionary purchase or sale, offering limited insight into the director’s outlook but modestly increasing equity alignment with shareholders.

Insights

Insider Transactions Analyst

TL;DR: Routine accrual of 21.86 DEUs; immaterial, neutral signal.

The transaction adds a small number of DEUs to the director’s deferred stock balance, lifting total derivative exposure to roughly 2.3 k units. Because DEUs accrue automatically when Prologis pays dividends, this filing does not represent an active buying decision and carries no open-market cost basis. There is no dilution impact and no indication of sentiment shift. Investors should view the disclosure as standard compensation reporting with negligible market relevance.

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
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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^*

Slusser Sarah A

(Last) (First) (Middle)

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)
06/30/2025

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

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)	06/30/2025	06/30/2025	A		21.8584		(1)	(1)	Common Stock	21.8584	$0.00(1)	2,296.8584	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 Sarah A. Slusser	07/02/2025
	** 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).
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FAQ

How many Prologis (PLD) shares did Director Sarah A. Slusser acquire?

21.8584 Dividend Equivalent Units, each convertible into one common share, were credited on 06/30/2025.

Was cash paid for the insider transaction reported in this Form 4?

No. The DEUs were credited at $0 price as part of routine dividend accrual; no cash was exchanged.

What is the director’s total deferred share balance after the transaction?

The filing shows 2,296.8584 derivative units (DSUs + DEUs) held after the reported event.

Does the filing indicate insider buying sentiment for PLD?

Not necessarily; the DEU credit is automatic board compensation, not a discretionary market purchase.

When do the DSUs and DEUs vest for Prologis directors?

They vest 100% on the earlier of the first anniversary of grant or the next annual shareholder meeting, generally held in May.