Form 4: Lydia H. Kennard Reports Acquisition of Dividend Equivalent Units in Prologis, Inc.

Director Lydia H. Kennard reports the acquisition of Dividend Equivalent Units (DEUs) related to deferred stock units in Prologis, Inc.

Summary

• Lydia H. Kennard, a director of Prologis, Inc., reported the acquisition of 37.9069 Dividend Equivalent Units (DEUs) on March 29, 2024.
• These DEUs are associated with deferred stock units (DSUs) earned through board service under the Prologis, Inc. Nonqualified Deferred Compensation Plan (NQDC Plan).
• DEUs accrue on outstanding DSUs at the same rate as Prologis common stock dividends.
• Both DEUs and the underlying DSUs vest fully on the earlier of the first anniversary of the grant date or the first annual meeting of Prologis stockholders, typically in May.
• The receipt of these DEUs is deferred along with the underlying DSUs and are paid in the form of Prologis common stock at a 1:1 ratio.
• Following the transaction, Kennard beneficially owns 5,179.8292 derivative securities, which includes both DSUs and DEUs.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating stability and adherence to standard practices. There are no indications of negative sentiment.

Positives

• The acquisition of DEUs reflects continued participation in the company's deferred compensation plan.
• The vesting schedule aligns with long-term service on the board.

Future Outlook

The document does not contain specific forward-looking statements beyond the standard vesting schedule of the DEUs and DSUs.

Industry Context

This filing is a routine disclosure related to director compensation and aligns with standard practices for publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans are common among publicly traded companies to attract and retain board members.
• The vesting schedule of one year or the next annual meeting is a typical arrangement.
• Prologis's use of Dividend Equivalent Units is a standard method for providing board members with returns equivalent to dividends on common stock.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders as it relates to director compensation.

Key Dates