Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 49

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 49
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 our solar installation and LED installation metrics to reflect new installations rather than a measure of installed capacity or coverage across our entire O&M portfolio. Dispositions of facilities without solar or LED installations would increase the portfolio percentage without the installation of new solar capacity or LED coverage, so we revised this metric to enhance our teams’ focus on installing new capacity. |

| (6) | The scored 2024 performance for Global Impact and Sustainability metrics were based on projections at the time of calculation. |

| COMPENSATION DISCUSSION AND ANALYSIS |

2024 bonus assessment results. In 2024, Prologis navigated a challenging operating environment unwinding from the effects of the Covid era and other macroeconomic headwinds, leading to an overall corporate score of 84.5% of target against the quantitative metrics in our bonus scorecard. 2024 was the first year since the Merger, which occurred in June 2011 and created the current company, that Prologis did not achieve its target corporate score as measured by our bonus metrics. We have maintained rigorous bonus targets since the Merger: for example, we have generally increased our Core FFO per share target annually since 2011. (1)(2)The Compensation Committee also deemed it appropriate to assign individual performance scores at 84.5% of target to our NEOs. Despite 2024 challenges, the Committee believes Prologis remains poised for long-term success, driven by strong customer focus, organic growth potential, Strategic Capital and Essentials offerings. The Committee’s assessment of key NEO contributions in 2024:

| l |     | Under leadership from Mr. Moghadam and Mr. Letter, the executive team led the company in another year of significant accomplishments in the face of difficult market conditions: |

| –  Mr. Moghadam built on years of carefully orchestrated succession planning by continuing to position his successor, Mr. Letter, to become CEO in 2026. In addition, Mr. Moghadam and Mr. Letter each played critical roles in the continued execution of our broader succession strategy, with the announcements of the retirements of Ed Nekritz, our former chief legal officer, as well as Colleen McKeown, our former chief human resources officer, and the elevation of their successors.   –  FIBRA Prologis, our Strategic Capital vehicle in Mexico, acquired a majority interest in Terrafina, which manages approximately 42M square feet of industrial real estate, including 288 warehouses