Daniel Letter - Jan 17, 2023 Form 4 Insider Report for Prologis, Inc. (PLD)

Role
President
Signature
/s/ Tammy Colvocoresses, Attorney-in-Fact for Daniel Letter
Stock symbol
PLD
Transactions as of
Jan 17, 2023
Transactions value $
$452
Form type
4
Date filed
1/19/2023, 06:58 PM
Previous filing
Jan 9, 2023
Next filing
May 5, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PLD LTIP Units Award $218 +21.8K +15.58% $0.01* 162K Jan 17, 2023 Common Stock 21.8K $0.00 Direct F1, F2
transaction PLD LTIP Units Award $62.20 +6.22K +3.84% $0.01* 168K Jan 17, 2023 Common Stock 6.22K $0.00 Direct F2, F3
transaction PLD LTIP Units Award $172 +17.2K +10.21% $0.01* 185K Jan 17, 2023 Common Stock 17.2K $0.00 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25% on each of 1/17/2024, 1/17/2025, 1/17/2026, and 1/17/2027, subject to continued employment. The LTIP Units were issued to the reporting person pursuant to the Prologis, Inc. 2020 Long-Term Incentive Plan (the "2020 LTIP").
F2 Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in Prologis, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder after the completion of a three-year waiting period, for cash equal to the then fair market value of a share of Common Stock of the Company (the "Common Stock"), except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested LTIP Units into Common Units and redeem Common Units have no expiration dates.
F3 Represents LTIP Units which vest 80% on 1/17/2024 and 10% on each of 1/17/2025, and 1/17/2026, subject to continued employment. The LTIP Units were issued to the reporting person pursuant to the 2020 LTIP.
F4 Represents LTIP Units of Prologis, L.P. (the "LTIP Units") that were issued to the reporting person pursuant to the Prologis Outperformance Plan.