WATSON ROBERT J 4

4 · PROLOGIS · Filed Jan 5, 2005

Form 4

Period: 2005-01-03

Pres. of N. America Operations

Transactions

Exercise/Conversion
Common Shares of Beneficial Interest, par value $0.01
2005-01-03+16,900→ 59,030 total
Exercise/Conversion
Performance Share Unit Award
2005-01-03−16,900→ 619,442.929 total
→ Common Shares of Beneficial Interest (16,900 underlying)
Tax Payment
Common Shares of Beneficial Interest, par value $0.01
2005-01-03$42.60/sh−5,383.506$229,337→ 53,646.494 total
Exercise/Conversion
Dividend Equivalent Units
2005-01-03−1,627.322→ 617,815.607 total
→ Common Shares of Beneficial Interest (1,627.322 underlying)
Exercise/Conversion
Common Shares of Beneficial Interest, par value $0.01
2005-01-03+1,627.322→ 55,273.816 total
Tax Payment
Common Shares of Beneficial Interest, par value $0.01
2005-01-03$42.60/sh−505.772$21,546→ 54,768.044 total

Footnotes (3)

[F1]Automatic conversion of performance share unit award earned on 12/31/02. Units convert into common shares on a 1 for 1 basis.
[F2]Payment of tax liaibility by reporting person to issuer pursuant to the conversion of performance share unit award and dividend equivalent unit award.
[F3]Automatic conversion of dividend equivalent units. Dividend Equivalent Units are earned and accrue on restricted stock and option grants pursuant to the ProLogis 1997 Long-Term Incentive Plan. The rate of vest and the expiration date is the same as the underlying grant. DEUs are converted in common shares on a 1 for 1 basis.

Documents

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