Palazzolo Lori A 4

What Happened
Lori A. Palazzolo, Prologis’ Chief Accounting Officer and Managing Director, was granted two derivative awards on January 20, 2026: 1,528 LTIP units at $0.01 each (value $15) and 3,822 LTIP units at $0.01 each (value $38), for a total of 5,350 units (nominal total ~$53). These transactions are reported as awards/grants (Form 4 code A), not open-market purchases or sales.

Key Details

• Transaction date: 2026-01-20; Form 4 filed 2026-01-22 (timely filing).
• Grants: 1,528 units @ $0.01 = $15 (derivative); 3,822 units @ $0.01 = $38 (derivative). Total units granted: 5,350; total nominal value: ~$53.
• Shares owned after transaction: not specified in the excerpt of the filing.
• Notable footnotes:
  • F2: Some LTIP Units vest 25% per year for four years (2020 LTIP).
  • F4: Other LTIP Units vest 80% on 1/20/2027 and 10% on each of 1/20/2028 and 1/20/2029 (subject to continued employment).
  • F3: Vested LTIP Units can, under certain tax conditions, be converted into partnership common units and may be redeemable for cash equal to the fair market value of a share of Prologis common stock (or converted into shares at the company's election).
  • F1 (separate): filing also notes shares held in the company 401(k) as of 12/31/2025.

Context
These awards are part of long-term incentive compensation (LTIP) and vest over time, so they reflect compensation rather than an immediate market purchase. LTIP Units are derivative interests that can be converted/redeemed under the terms described; they do not indicate an immediate cash investment or sale by the insider.