Form 4: Prologis Director Bita Converts Deferred Stock Units into Common Stock

Director Cristina Gabriela Bita converted deferred stock units and dividend equivalent units into 1,762 shares of Prologis common stock on April 29, 2024.

Summary

• On April 29, 2024, Cristina Gabriela Bita, a director at Prologis, converted 1,762 deferred stock units (DSUs) and dividend equivalent units (DEUs) into Prologis common stock.
• This transaction occurred under the Prologis, Inc. Nonqualified Deferred Compensation Plan (NQDC Plan).
• The shares were released on April 29, 2024, based on the original grant terms, which stipulated release on the earlier of the third anniversary of the grant date (April 29, 2021) or the first annual meeting of Prologis stockholders.
• Bita also holds 3,681.147 phantom shares under the NQDC plan, which are vested upon issuance and accrue DEUs at the Prologis common stock dividend rate.
• Following the reported transaction, Bita beneficially owns 10,829 shares of Prologis common stock.
• The reporting person also holds 3,416.9882 Deferred Stock Units and Dividend Equivalent Units-NQDC.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to executive compensation, and does not contain information that would significantly impact investor sentiment.

Industry Context

This transaction reflects standard executive compensation practices, where deferred stock units are used to align the interests of directors with those of the company's shareholders.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among publicly traded companies to incentivize and retain key personnel.
• The terms of Prologis's NQDC Plan, including the vesting schedule and conversion of DSUs and DEUs, are generally consistent with industry standards for executive compensation.
• Companies like Duke Realty (now part of Prologis), Equinix, and Digital Realty Trust also utilize similar deferred compensation mechanisms for their executives and directors.

Stakeholder Impact

• The conversion of deferred stock units has a minor dilutive effect on existing shareholders.
• The transaction aligns the director's interests with those of the shareholders.

Key Dates