Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 19

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 19
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) | Directors nominated for election at our 2025 Annual Meeting. |

| BOARD OF DIRECTORS AND CORPORATE GOVERNANCE |

Chairman and CEO assessment Our current CEO, Mr. Moghadam, presently serves as chairman of the Board. Mr. Moghadam co-founded the company and has served on the Board since the company’s initial public offering in November 1997 (1), providing more than four decades of visionary leadership. As one of our founders, he has extensive expertise in the real estate and REIT industries, as well as substantial knowledge of the history of our company and industry trends. Considering these factors, the Board found that a combined CEO/chairman role while Mr. Moghadam served as CEO was in the best interests of the company and our stockholders. An independent lead director, independent chairs for each Board committee and maintaining a majority of independent non-employee directors has ensured strong independent oversight of the company. Effective January 1, 2026, Mr. Moghadam will transition from CEO to executive chairman of the Board. Mr. Letter, our president and a longtime leader within the company, will succeed him as CEO. Mr. Moghadam’s continued service as our chairman will maintain the Board’s access to his deep industry expertise, strategic vision and historical perspective, ensuring continuity in leadership and fostering long-term business growth. Going forward, the lead independent director role will remain focused on providing independent oversight of the company. Please see “CEO and Management Succession Planning” and “Compensation Discussion and Analysis” for details about our carefully planned executive succession strategy and the extensive preparation of our next CEO, Mr. Letter. Lead independent director If the offices of chairman and CEO are held by the same person or if the chairman is otherwise not independent, the independent members of the Board will annually elect an independent director to serve in a lead capacity. The lead independent director is generally expected to serve for more than one year. Mr. Lyons was selected as the lead independent director by our Governance Committee and the independent members of our Board. The lead independent director coordinates the activities of the other independent directors and performs other duties and responsibilities as determined by the Board. The specific responsibilities of the lead independent director are currently as follows:

| Executive Sessions/   
 Committee Meetings    |     | l   Presides at all meetings of the Board at which the chairman is not present, including executive sessions of the independent directors (generally held at every regular Board meeting).   l   Att