Form 4: Prologis Director Avid Modjtabai Reports Changes in Beneficial Ownership

Avid Modjtabai, a director at Prologis, reported the acquisition and disposal of Dividend Equivalent Units (DEUs) related to deferred stock units.

Summary

• On March 29, 2024, Avid Modjtabai, a director of Prologis, engaged in transactions involving Dividend Equivalent Units (DEUs) related to the company's Nonqualified Deferred Compensation Plan (NQDC Plan).
• Modjtabai acquired 37.9069 DEUs and disposed of 37.9069 DEUs.
• These DEUs are associated with Deferred Stock Units (DSUs) earned through board service and accrue at the same rate as Prologis common stock dividends.
• The DEUs and underlying DSUs vest fully on the earlier of the first anniversary of the grant date or the first annual meeting of Prologis stockholders after the grant date, typically in May each year.
• Both DSUs and DEUs are paid out as Prologis common stock at a rate of one share per unit.
• Following these transactions, Modjtabai's beneficial ownership includes 5,179.8292 DSUs and DEUs.

Sentiment

Score: 7

Explanation: The document reflects routine transactions related to director compensation, indicating standard corporate governance practices. There is nothing inherently positive or negative, but the transparency is a positive sign.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in company stock and related instruments. It reflects standard compensation practices for board members.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they relate to director compensation and do not significantly alter the company's financial position.

Key Dates