Form 4: Prologis Director Slusser Boosts Equity Holdings

Prologis Director Sarah A. Slusser reported the acquisition of 18.3322 Dividend Equivalent Units, increasing her beneficial ownership in the company.

Summary

• Sarah A. Slusser, a Director of Prologis, Inc. (PLD), acquired 18.3322 Dividend Equivalent Units (DEUs) on December 31, 2025.
• These DEUs were earned on Deferred Stock Units (DSUs) as part of the Prologis, Inc. Nonqualified Deferred Compensation Plan (NQDC Plan).
• DEUs accrue on outstanding DSUs at the Prologis common stock dividend rate when dividends are paid on Prologis common stock.
• The DEUs and underlying DSUs vest 100% on the earlier of the first anniversary of the grant date or the first annual meeting of stockholders after the grant date (generally in May each year).
• Following this transaction, Ms. Slusser beneficially owns 2,335.4476 derivative securities, which include both DSUs and DEUs.
• DEUs and DSUs are paid in the form of Prologis common stock at a rate of one common share per DSU or DEU.

Sentiment

Score: 6

Explanation: Slightly positive as it indicates a director's continued accumulation of equity-linked compensation, aligning interests with shareholders, but it's a routine, non-discretionary transaction.

Positives

• Director Sarah A. Slusser increased her beneficial ownership in Prologis, Inc. by acquiring 18.3322 Dividend Equivalent Units.
• The acquisition of DEUs aligns the director's interests with those of shareholders, as DEUs are tied to common stock dividends and convert to common stock.

Future Outlook

The acquired Dividend Equivalent Units (DEUs) and their underlying Deferred Stock Units (DSUs) will vest 100% on the earlier of the first anniversary of the grant date or the first annual meeting of Prologis stockholders after the grant date, which generally occurs in May each year. Upon vesting, these units will be paid in Prologis common stock.

Industry Context

Insider transactions, such as the acquisition of equity-linked compensation, are common in the real estate investment trust (REIT) sector. They generally indicate alignment of management and director interests with shareholder value, particularly when tied to dividend performance and future stock conversion.

Stakeholder Impact

• Shareholders: Minor positive impact due to increased director alignment with shareholder interests through equity-linked compensation.

Next Steps

• Vesting of the Dividend Equivalent Units (DEUs) and underlying Deferred Stock Units (DSUs) on the earlier of the first anniversary of the grant date or the first annual meeting of stockholders after the grant date.
• Conversion of vested DEUs and DSUs into Prologis common stock.

Key Dates

Keywords

Prologis, PLD, Sarah A. Slusser, Director, SEC Form 4, Insider Transaction, Dividend Equivalent Units, Deferred Stock Units, Nonqualified Deferred Compensation Plan, Equity Holdings