Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 43

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 43
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 three-year TSR overlooks our strong longer-term relative TSR performance, including that our five-, seven-and ten-year annualized TSR each outperformed the MSCI U.S. REIT Index, by 189 bps, 442 bps and 695 bps, respectively. Moreover, 2024 was the first time Prologis underperformed the MSCI U.S. REIT Index on a 3-year performance cycle since 2015. |

As demonstrated in the chart below, total stockholder return on an investment made at the end of 2018 significantly outpaced growth in CEO pay over the same period. Equity in lieu of salary makes CEO compensation 100% performance-based. At our CEO’s request, his base salary was reduced to $1 in 2019. The rest of our CEO’s former base salary was shifted to at-riskpay in the form of equity compensation contingent on performance and subject to four-year vesting.

| l |     | As requested by our CEO to further demonstrate his commitment to our stockholders, this change offers no additional upside to him. The amount he can earn as equity paid in lieu of salary is capped at $999,999 if the company achieves its target corporate score as measured by our annual bonus scorecard.(2) If a target corporate score is not achieved, this amount will be reduced. |

| l |     | Based on company performance in 2024, Mr. Moghadam’s equity in lieu of salary for 2024 was about 16% lower than the maximum payable amount.(2) |

| (1) | CEO total compensation for a performance year includes base salary, bonus, annual LTI equity awards and equity paid in lieu of salary that the Committee analyzes as compensation paid for that performance year plus PPP awards paid in the performance year and aggregate POP awards paid for any performance periods ending on the applicable performance year. |

| (2) | For the 2024 performance year, the Committee determined that the maximum value of this award ($999,999) would be paid if company performance was at or greater than target (using our corporate score assessed against our annual bonus plan metrics). Company results yielded a corporate score for annual bonus purposes of 84.5% of target for 2024. As such, the Committee awarded Mr. Moghadam 84.5% of the maximum value, or $844,999, in equity with four-year vesting in lieu of a 2024 salary. Because this equity award was granted in