Form 4: Prologis Director Lydia H. Kennard Reports Dividend Equivalent Unit Acquisition

Director Lydia H. Kennard reports the acquisition of Dividend Equivalent Units related to deferred stock units.

Summary

• Lydia H. Kennard, a director at Prologis, Inc., reported a transaction on March 31, 2025, involving Dividend Equivalent Units (DEUs).
• Kennard acquired 50.9278 DEUs related to her deferred stock units (DSUs) under the company's Nonqualified Deferred Compensation Plan (NQDC Plan).
• These DEUs accrue on outstanding DSUs 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.
• Both DSUs and DEUs are paid out as Prologis common stock at a rate of one share per unit.
• Following the reported transaction, Kennard's direct holdings include 5,687.7843 Dividend Equivalent Units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating stability and adherence to established compensation plans. It is neither overly positive nor negative.

Positives

• The acquisition of DEUs reflects continued participation in the company's deferred compensation plan.
• The vesting schedule of the DEUs and DSUs aligns with the director's ongoing service on the board.

Future Outlook

The document does not contain specific forward-looking statements, but it implies continued participation in the company's deferred compensation plan.

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 a common practice among publicly traded companies to attract and retain directors and key employees.
• The structure of Prologis' NQDC Plan, with DEUs accruing on DSUs, is similar to those offered by comparable REITs such as Duke Realty (now part of Prologis) and Public Storage.
• Vesting schedules tied to service on the board are also standard in the industry.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, or creditors.
• It provides transparency regarding director compensation.

Key Dates

Keywords

Dividend Equivalent Units, Deferred Stock Units, Director, Prologis, Form 4, Beneficial Ownership, NQDC Plan