KENNARD LYDIA H 4

What Happened Lydia H. Kennard, a director of Prologis, converted deferred stock units/dividend equivalents into company common stock and received a new grant of deferred stock units on April 28, 2026. Specifically, the filing reports conversion/acquisition of 1,984 shares (exercise/conversion, $0.00), a related derivative line showing 1,984.549 shares (disposed, $0.00) reflecting reporting mechanics, and a grant/award of 1,695 DSUs (acquired, $0.00). No cash was paid or received in these transactions — they reflect deferred-compensation unit conversion and a new deferred-unit grant.

Key Details

• Transaction date: April 28, 2026; Form 4 filed April 30, 2026 (timely filing).
• Reported amounts/prices: conversion/acquisition 1,984 shares @ $0.00; related derivative line 1,984.549 shares @ $0.00 (disposed); grant of 1,695 DSUs @ $0.00.
• Shares owned after transaction: exact total not provided in the data shown (filing’s balance column includes DSUs and DEUs).
• Footnote F1: These conversions were DSUs/DEUs under the Prologis Nonqualified Deferred Compensation Plan; DSUs/DEUs convert 1-for-1 into common stock on vesting, with no exercise price or expiration.
• Footnote F2: The 1,695 DSUs were newly granted on April 28, 2026; they vest on the earlier of the first anniversary of grant or the next annual meeting and are generally deferred until April 28, 2029. DSUs accrue dividend equivalents and convert 1-for-1 to shares when payable.
• No 10b5-1 plan, tax-withholding sale, or cash purchase is indicated.

Context These entries are routine deferred-compensation and grant-related transactions rather than open-market purchases or sales for cash. The conversion lines represent DSUs/DEUs vesting into shares; the new DSU grant is a deferral of compensation that will convert to shares upon future vesting. Such actions typically reflect plan terms rather than a director signaling a buy/sell opinion.