Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 53

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 53
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 pay.   l Earned awards capped at target level if PLD’s absolute total stockholder return is negative at the end of the three-year performance period.                                                                                                                                                                                                                                                                                                                                                                                                 |
| Benchmark  Index |     | l Combination of the Cohen & Steers REIT Index (50%) and logistics REITs (50%), which was comprised of domestic logistics REITs (40%) and global logistics REITs (10%).                                                                                                      |     | l 100% MSCI U.S. REIT Index.   l Our stockholders recommended using a REIT index for TSR-based equity awards. The MSCI U.S. REIT Index is a performance benchmark that represents about 99% of the U.S. REIT universe.   l Real estate remains the core of our business. It is important to our stockholders to evaluate our performance against the REIT industry.                                                                                                                                                                                                                                                                                                                                      |

| (1) | The final tranche of awards to NEOs under our prior LTI equity award program was made in January 2024. We are required to reflect this final tranche of LTI equity awards in the Summary Compensation Table for 2024 even though the Committee considers these awards to be compensation for 2023, not 2024. No new awards were granted to our NEOs under POP in 2024. Refer to the “Narrative Discussion to the Summary Compensation Table for Fiscal Year 2024 and the Grants of Plan-Based Awards in Fiscal Year 2024 Table” for information regarding our prior LTI equity award program and POP. |

| (2) | For 2021-2023 performance period. |

| COMPENSATION DISCUSSION AND ANALYSIS |

| HOW IT WORKS |

Award Formula Under New LTI Equity Program

| l |     | Forward-looking LTI equity awards are granted as performance stock units (“PSUs”) at the beginning of the performance period and settled in equity at the end of the period (subject to company TSR performance), with subsequent vesting and lock up periods. |

| l |     | Formulaic approach: Payouts for 2024 Forward-Looking LTI Equity Awards will be determined at the end of the 2024-2026 performance period using the linear payout scale set forth below (with linear interpolation between 85th and 35th percentiles). |

LTI equity payout scale:

2024 LTI EQUITY AWARDS UNDER NEW PROGRAM The first tranche of