Prologis, Inc. (NYSE: PLD) awards COO 10,119 time-vested LTIP units
Rhea-AI Filing Summary
Prologis, Inc. Chief Operating Officer Andrus Carter received a compensation grant of 10,119 LTIP Units of Prologis, L.P. on 7/14/2026 at $0.01 per unit. The award vests 25% on each of 7/14/2027, 7/14/2028, 7/14/2029 and 7/14/2030, subject to continued employment, bringing his holdings to 158,320 LTIP Units. Conditioned on certain tax allocations, each vested LTIP Unit may be converted into a partnership Common Unit and then redeemed for cash equal to the fair market value of one Prologis common share, or, at the company’s election, settled in one share of common stock, with no expiration on these rights.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Andrus Carter
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 10,119 | $0.01 | $101.19 |
Holdings After Transaction:
LTIP Units — 158,320 shares (Direct)
Footnotes (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: 10,119 LTIP Units
Grant price per LTIP Unit: $0.01
LTIP Units after transaction: 158,320 LTIP Units
+1 more
4 metrics
LTIP Units granted
10,119 LTIP Units
Compensation award to COO Andrus Carter on 7/14/2026
Grant price per LTIP Unit
$0.01
Stated transaction price for the LTIP Unit grant
LTIP Units after transaction
158,320 LTIP Units
Total LTIP Units beneficially owned directly by Andrus Carter after the award
Vesting schedule
25% each on 7/14/2027, 7/14/2028, 7/14/2029, 7/14/2030
Time-based vesting of the 10,119 LTIP Units, subject to continued employment
Key Terms
LTIP Units, Common Unit, capital accounts, redemption
4 terms
LTIP Units financial
"Represents LTIP Units of Prologis, L.P. which vest 25% on each of 7/14/2027..."
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.
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..."
redemption financial
"Each Common Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash..."
Redemption is when an issuer or holder settles a financial instrument by paying it off or returning it for cash, such as a bond being paid at maturity or a preferred share bought back by the company. It matters to investors because redemption changes when and how they get their money back, can cut off future income from the investment, and affects the issuer’s cash needs—think of it like a loan being paid off early or a store refunding a returned purchase.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Prologis (PLD) COO Andrus Carter receive in this Form 4 filing?
COO Andrus Carter received a compensation grant of 10,119 LTIP Units of Prologis, L.P. at $0.01 per unit. These LTIP Units are part of the company’s 2020 Long-Term Incentive Plan and are tied to Prologis common stock through conversion and redemption features.
How do the 10,119 LTIP Units granted to Prologis (PLD) COO vest?
The 10,119 LTIP Units vest in four equal 25% installments on 7/14/2027, 7/14/2028, 7/14/2029 and 7/14/2030. Vesting is explicitly stated as being subject to continued employment, making this a time-based long-term incentive award.
What can Prologis (PLD) LTIP Units be converted into according to this filing?
Each vested LTIP Unit, after satisfying required capital account allocations, may be converted at the holder’s election into a Common Unit of Prologis, L.P. That Common Unit can then be redeemed for cash equal to the fair market value of one Prologis common share, or settled in one share of common stock.
How many LTIP Units does Prologis (PLD) COO Andrus Carter hold after this award?
Following this grant, Andrus Carter beneficially holds 158,320 LTIP Units directly. The filing shows this total in the post-transaction holdings field, indicating his cumulative LTIP position after the 10,119-unit award reported in this Form 4.
Do Prologis (PLD) LTIP Unit conversion and redemption rights expire?
The filing states that the rights to convert vested LTIP Units into Common Units and to redeem Common Units for cash or Prologis common stock have no expiration dates. This means the holder retains these rights indefinitely once the units have vested and conditions are satisfied.
Is the Prologis (PLD) COO’s Form 4 transaction an open-market stock purchase?
No. The transaction is coded “A” as a grant or award acquisition of 10,119 LTIP Units at $0.01 per unit under the 2020 Long-Term Incentive Plan. It is a compensation-related equity award, not an open-market purchase or sale of Prologis common stock.