Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 40

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 40
---
, which is lower than the majority standard among REITs. |
| 2024-2025: Appreciated our transparent disclosure but noted that CD&A was lengthy.                    |     | Streamlined CD&A: We delivered clear and comprehensive disclosure in a streamlined format.                                                                                                                                                                                       |

| (1) | Calculated by outstanding shares of common stock of our top 100 stockholders. As of March 12, 2025, our top 100 stockholders held 78% of our outstanding shares. Engagement covered 52% of total shares outstanding and included outreach from May 2024 to March 2025. |

| COMPENSATION DISCUSSION AND ANALYSIS |

Prologis has a long track record of stockholder engagement and responsiveness. The Committee values stockholder engagement, conducting annual outreach since 2016. We continuously refine executive compensation and governance based on this feedback, ensuring responsiveness while effectively incentivizing our NEOs.

| COMPENSATION DISCUSSION AND ANALYSIS |

Compensation Benchmarking Peer Group Our peer group methodology accounts for our total size, the evolution of our global business and our need to tap talent markets beyond real estate. With guidance from Pay Governance, the Committee’s independent consultant for 2024, the Committee built our peer group to align with our continued growth and ongoing business transformation:

| CONTINUED                                                                                                                                                                                                
 BUSINESS EXPANSION                                                                                                                                                                                       
 AND EVOLUTION                                                                                                                                                                                            |     | + |     | COMPETITION FOR                                                                                                                                                                                                                                      
 TALENT ACROSS                                                                                                                                                                                                                                        
 INDUSTRIES                                                                                                                                                                                                                                           |     | = |     | PEER GROUP REFLECTING PROLOGIS’ BUSINESS                                                                                                                                                                              
 AND TALENT MARKETS                                                                                                                                                                                                    |
| We have expanded our industry leadership, creating a distinct business model that encompasses global asset management through Strategic Capital and growth beyond real estate with Essentials solutions. |     |   |     | We compete for talent beyond the REIT industry, with financial services and technology firms, among others. We seek top finance professionals for complex transactions and tech-savvy experts to drive innovation and leverage data to create value. |     |   |     | Our peer group reflects our global scale and unique scope, and aligns with our key business and talent markets: (1) real estate, (2) financial services and asset management and (3) business-to-business technology. |

Peer group for 2024

| l |     | We selected peers that include a mix of large-cap REITs, financial services firms and business-to