Prologis (NYSE: PLD) CEO awarded 21,671 long‑term LTIP incentive units

Rhea-AI Filing Summary

Prologis, Inc. Chief Executive Officer Daniel Letter reported a grant of 21,671 LTIP Units of Prologis, L.P. at $0.01 per unit under the Prologis, Inc. 2020 Long-Term Incentive Plan. These LTIP Units vest 25% on each of July 14, 2027, 2028, 2029 and 2030, subject to continued employment, bringing his holdings in this LTIP award type to 341,735 LTIP Units.

Each vested LTIP Unit may be converted into a Common Unit of Prologis, L.P., which can then be redeemed for cash equal to the fair market value of one share of Prologis common stock, or, at the company’s election, for one share of common stock instead; these conversion and redemption rights have no expiration dates.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Letter Daniel

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	21,671	$0.01	$216.71

Holdings After Transaction: LTIP Units — 341,735 shares (Direct)

Footnotes (1)

1. Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25% on each of 7/14/2027, 7/14/2028, 7/14/2029 and 7/14/2030 subject to continued employment. The LTIP Units were issued to the reporting person pursuant to the Prologis, Inc. 2020 Long-Term Incentive Plan (the "2020 LTIP"). Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in Prologis, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of Common Stock of the Company (the "Common Stock"), except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested LTIP Units into Common Units and redeem Common Units have no expiration dates.

Key Figures

LTIP Units granted: 21,671 LTIP Units Grant price per LTIP Unit: $0.01 per unit LTIP Units after grant: 341,735 LTIP Units +3 more

6 metrics

LTIP Units granted 21,671 LTIP Units Grant of LTIP Units to CEO Daniel Letter on 2026-07-14

Grant price per LTIP Unit $0.01 per unit Stated transaction price for the LTIP Unit award

LTIP Units after grant 341,735 LTIP Units Total LTIP Units of this type held by CEO following the transaction

Underlying common stock 21,671 shares Common stock underlying the granted LTIP Units

Vesting schedule start 7/14/2027 First 25% tranche of LTIP Units vests on this date

Vesting schedule end 7/14/2030 Final 25% tranche of LTIP Units vests on this date

Key Terms

LTIP Units, Prologis, L.P., Common Unit, capital accounts, +1 more

5 terms

LTIP Units financial

"Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25%"

LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.

Prologis, L.P. financial

"Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25%"

Common Unit financial

"each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in Prologis, L.P. (a "Common Unit")"

A common unit is a single piece of ownership in a company, fund, or trust—similar to an ordinary share but often used for pooled vehicles or listings where securities are packaged or governed differently. It matters to investors because each unit represents a claim on profits and, commonly, voting power; like holding a seat at a table, the number of units you own affects your share of returns and influence, and unit structures can also affect liquidity and tax treatment.

capital accounts financial

"Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes"

Prologis, Inc. 2020 Long-Term Incentive Plan financial

"The LTIP Units were issued to the reporting person pursuant to the Prologis, Inc. 2020 Long-Term Incentive Plan (the "2020 LTIP")"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/16/2026 - 07:00 PM Accepted by SEC EDGAR 07/16/2026 - 07:00 PM Learn about SEC filing dates

FAQ

What insider transaction did Prologis (PLD) CEO Daniel Letter report on this Form 4?

Daniel Letter reported a grant of 21,671 LTIP Units of Prologis, L.P. These units were awarded at $0.01 per unit as equity compensation under the Prologis, Inc. 2020 Long-Term Incentive Plan, rather than being bought on the open market.

How many LTIP Units did Prologis (PLD) grant to its CEO and what is his total LTIP position?

The CEO received 21,671 LTIP Units in this award. Following the grant, his reported holdings in this LTIP Unit category total 341,735 LTIP Units, reflecting a substantial equity-based incentive position tied to Prologis’ performance over time.

What are the vesting terms of the new LTIP Units granted by Prologis (PLD) to its CEO?

The 21,671 LTIP Units vest in four equal installments of 25% each on 7/14/2027, 7/14/2028, 7/14/2029 and 7/14/2030, subject to continued employment, aligning the CEO’s compensation with longer-term company performance.

How can the Prologis (PLD) LTIP Units granted to the CEO ultimately be settled?

Once vested, each LTIP Unit may be converted into a Common Unit of Prologis, L.P. Each Common Unit can then be redeemed for cash equal to the fair market value of one Prologis common share, or, at the company’s election, for one share of common stock.

Do the conversion and redemption rights on Prologis (PLD) LTIP Units have an expiration date?

The filing states that the rights to convert vested LTIP Units into Common Units and to redeem Common Units have no expiration dates. This provides ongoing flexibility regarding when the CEO may convert or redeem these equity-based awards.

Under what plan were the LTIP Units granted to the Prologis (PLD) CEO?

The LTIP Units were issued under the Prologis, Inc. 2020 Long-Term Incentive Plan. This plan governs the terms of the award, including vesting conditions and the ability to convert vested LTIP Units into Common Units and ultimately into cash or common stock.

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^*

Letter Daniel

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2026

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
LTIP Units(1)	$0	07/14/2026		A		21,671		(2)	(2)	Common Stock	21,671	$0.01	341,735	D

Explanation of Responses:

1. Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25% on each of 7/14/2027, 7/14/2028, 7/14/2029 and 7/14/2030 subject to continued employment. The LTIP Units were issued to the reporting person pursuant to the Prologis, Inc. 2020 Long-Term Incentive Plan (the "2020 LTIP").

2. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in Prologis, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of Common Stock of the Company (the "Common Stock"), except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested LTIP Units into Common Units and redeem Common Units have no expiration dates.

	/s/ Tammy Colvocoresses Attorney-In-Fact for Daniel Letter	07/16/2026
	** 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)