Prologis, Inc. 8-K/A

What Happened
Prologis filed an 8-K reporting that on January 20, 2026 the Board’s Talent and Compensation Committee approved compensation packages for newly appointed CEO Daniel S. Letter and Executive Chairman Hamid R. Moghadam. (Mr. Letter’s CEO appointment was effective January 1, 2026 per an earlier filing.) The approved packages set base pay, annual bonus targets, and significant long-term equity awards tied to performance.

Key Details

• Daniel S. Letter (CEO): annual base salary of $1,000,000; annual bonus target = 200% of base salary (target ~$2,000,000); 2026 long-term incentive (LTI) equity award target = $15,750,000. He remains eligible for awards under the Fourth Amended and Restated Prologis Promote Plan (PPP); all awards are contingent on performance objectives.
• Hamid R. Moghadam (Executive Chairman): 2026 performance-based equity award (Performance Stock Units) target value = $13,750,000. In addition, he received a one-time, service-based grant of 220,000 LTIP Units under the 2020 Long‑Term Incentive Plan that cliff vests on the third anniversary of the grant date.
• The actual bonus and equity payouts for both executives may be less than, greater than, or equal to the stated target amounts depending on achievement of performance goals.

Why It Matters
These actions formalize pay for Prologis’s new leadership and emphasize performance-linked compensation, with much larger amounts tied to long-term equity than to cash salary. For investors, that means executive rewards are structured to align with company performance over time; however, the grants could affect future equity-based compensation expense and long-term share-based metrics depending on vesting and achievement of targets.