Letter Daniel 4

Accession 0001193125-26-019748

CIK 0001045609other

Filed

Jan 21, 7:00 PM ET

Accepted

Jan 22, 6:04 PM ET

Size

8.5 KB

Accession

0001193125-26-019748

AI-generated summary of this filing

Updated Jan 22, 2026

Prologis (PLD) President Daniel Letter Receives LTIP Award (30,868 Units)

What Happened

Daniel Letter, President of Prologis, received two awards of LTIP Units under the Prologis, Inc. 2020 Long-Term Incentive Plan: 16,573 units and 14,295 units (total 30,868 units). Each unit was reported at $0.01, for reported values of $166 and $143 (combined $309). These are derivative LTIP Units (awards), not open-market purchases or sales.

Key Details

Transaction date (period of report): 2026-01-20; Form 4 filed: 2026-01-22 (timely filing).
Price: $0.01 per LTIP Unit; Total reported value: $309.
Shares owned after the transaction: not specified in the provided data/summary.
Footnotes (plain-English):
- F1: These LTIP Units vest 25% per year over four years, subject to continued employment.
- F2: Vested LTIP Units can be converted into common partnership units and may be redeemed for cash equal to the fair market value of a Prologis share (or converted into one share at the company’s election); conversion/redemption rights have no expiration.
- F3: Some LTIP Units may be issued in exchange for a cash bonus and vest 100% on issuance (per the plan language).
Transaction type code: A = Award/Grant (derivative instrument).

Context

These are compensation awards (long-term incentive units) rather than open-market purchases or sales; such grants are common for executives and reflect compensation structure rather than an immediate directional bet on the stock.
Because these are LTIP Units (derivatives with vesting and conversion/redemption mechanics), their ultimate economic exposure depends on vesting and any later conversion or redemption into common stock or cash.

Form 4

Period: 2026-01-20

President

Transactions

Award
LTIP Units
[F1][F2]
2025-01-20$0.01/sh+16,573$166→ 371,769 total
Exercise: $0.00→ Common Stock (16,573 underlying)
Award
LTIP Units
[F3][F2]
2025-01-20$0.01/sh+14,295$143→ 386,064 total
Exercise: $0.00→ Common Stock (14,295 underlying)

Footnotes (3)

[F1]Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25% each year for four years 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").
[F2]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.
[F3]Represents LTIP Units that were issued in exchange for the executive's cash bonus at the same value as the cash bonus. The LTIP Units vest 100% on issuance date. The LTIP Units were issued to the reporting person pursuant to the 2020 LTIP.

Signature

/s/ Tammy Colvocoresses Attorney-In-Fact for Daniel Letter|2026-01-22

1 file

Prologis, Inc.

CIK 0001045609

Entity typeother