Form 4: Carl B. Webb Reports Changes in Beneficial Ownership of Prologis, Inc. Stock

Director Carl B. Webb reports acquisition and disposal of Dividend Equivalent Units and Phantom Shares related to deferred compensation plans.

Summary

• Carl B. Webb, a director of Prologis, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The reported transactions involve the acquisition of Dividend Equivalent Units (DEUs) and phantom shares under the company's Nonqualified Deferred Compensation Plan (NQDC Plan).
• These DEUs and phantom shares are related to deferred stock units (DSUs) and director fees.
• The DEUs accrue on outstanding DSUs and phantom shares at the Prologis common stock dividend rate.
• The reported transactions occurred on June 28, 2024.
• Webb acquired 46.9871 DEUs related to DSUs, 187.651 DEUs related to director fees, and 333 phantom shares related to director fees.
• He also disposed of 5,543.9753 DEUs related to DSUs, 23,728.3726 DEUs related to director fees, and 24,061.3726 phantom shares related to director fees.
• The DEUs and phantom shares are paid in the form of Prologis common stock at a rate of one common share per unit or share.
• The balance in column 9 of the filing includes DSUs, DEUs, and phantom shares.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing detailing standard compensation practices. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Executive compensation packages often include deferred compensation plans, such as the NQDC Plan at Prologis, to align executive interests with long-term shareholder value.
• Dividend equivalent units are a common feature in deferred compensation plans, providing executives with the equivalent of dividend payments on their deferred shares.
• Similar to Prologis, companies like Duke Realty (now Prologis) and Liberty Property Trust also utilized deferred compensation plans for their executives and directors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding director compensation and stock ownership.
• The deferred compensation plan aligns director interests with long-term shareholder value.

Key Dates