Prologis (PLD) Director George Fotiades Converts DSUs to 1,687 Shares

What Happened
George L. Fotiades, a director of Prologis, reported the conversion of deferred stock units (DSUs) and dividend equivalent units (DEUs) into common stock on September 17, 2026. The Form 4 shows an acquisition of 1,687 shares at $0.00 (conversion) and a related derivative line reporting 1,687.588 shares at $0.00. These entries reflect the release/conversion of deferred compensation units rather than an open-market purchase or sale; no cash was paid.

Key Details

• Transaction date: September 17, 2026. Form 4 filed September 21, 2026 (reports the Sep 17 transaction).
• Reported prices: $0.00 per share (conversion of units; not a purchase).
• Shares reported acquired: 1,687; a related derivative line shows 1,687.588 (both reported as conversions/exercises).
• Post-transaction holdings: The filing does not list a simple total in the summary here; the reporting person’s holdings are held indirectly in a trust (see footnote).
• Notable footnotes:
  • F1: These shares came from conversion of DSUs and DEUs under Prologis’s Nonqualified Deferred Compensation Plan; DSUs/DEUs convert 1-for-1 to common stock and have no exercise price.
  • F2: Shares are held indirectly in a trust with the director’s spouse as sole trustee; the reporting person disclaims voting and investment power.
  • F3: The reported balance includes an administrative adjustment of 13.2248 DEUs.

Context
DSU/DEU conversions are routine releases of deferred compensation and do not necessarily indicate a bullish or bearish view by the insider. Because the units convert 1-for-1 with no cash outlay, this transaction is effectively a vesting/release event rather than a market trade.