Form 4: Prologis Director Carl B. Webb Reports Acquisition of Dividend Equivalent Units

Director Carl B. Webb reports the acquisition of Dividend Equivalent Units (DEUs) related to deferred stock units and director fees under Prologis' Nonqualified Deferred Compensation Plan.

Summary

• Carl B. Webb, a director at Prologis, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The report indicates the acquisition of Dividend Equivalent Units (DEUs) related to deferred stock units (DSUs) and director fees under the company's Nonqualified Deferred Compensation Plan (NQDC Plan).
• These DEUs accrue on outstanding DSUs and phantom shares at the Prologis common stock dividend rate.
• The DEUs and underlying DSUs vest on the earlier of the first anniversary of the grant date or the first annual meeting of stockholders after the grant date.
• Phantom shares and DEUs are paid in the form of Prologis common stock at a rate of one common share per phantom share or DEU.
• As of December 31, 2024, Webb acquired 50.7349 DEUs related to DSUs, 208.3147 DEUs related to director fees deferred into phantom shares, and 372 phantom shares from deferred director fees.
• The total balance includes 5,636.8565 DEUs related to DSUs, 24,756.1905 DEUs related to director fees, and 25,128.1905 phantom shares from deferred director fees.

Sentiment

Score: 7

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

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance or guidance.

Industry Context

This filing is a routine disclosure related to executive compensation and deferred compensation plans, common in publicly traded companies like Prologis. It reflects standard practices for aligning director and executive interests with shareholder value through equity-based compensation.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among publicly traded companies, particularly in the real estate investment trust (REIT) sector, to attract and retain key personnel.
• Companies like Duke Realty (now Prologis), Equity Residential, and Simon Property Group also utilize similar deferred compensation mechanisms to align executive compensation with long-term shareholder value.
• The specifics of vesting schedules and payout structures can vary, but the underlying principle of deferring compensation into equity-linked instruments is consistent across the industry.

Stakeholder Impact

• The acquisition of DEUs and phantom shares by a director aligns their interests with those of shareholders, as the value is tied to the performance of Prologis common stock.

Key Dates