Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 62

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 16
Chunk 62
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 met, the participants’ points or compensation pool percentage will be paid in the form of common stock, RSUs, POP LTIP Units or LTIP Units, as elected by the participant. At December 31, 2024, all awards were equity classified. The grant date fair value was calculated using a Monte Carlo valuation model.  The following table details the assumptions used for each POP grant based on the year it was granted (dollars in thousands): 

        2024

        2023

        2022

        Risk free interest rate

        4.2
        %

        4.2
        %

        1.0
        %

        Prologis expected volatility

        27.0
        %

        35.0
        %

        31.0
        %

        Index expected volatility

        20.0
        %

        31.0
        %

        29.0
        %

        Grant date fair value
         
        $
        19,000

        $
        28,300

        $
        30,400

       Total remaining compensation cost at December 31, 2024, was $52.5 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2033, with a weighted average period of 2.8 years. The performance criteria were met for the performance periods ended 2022 and 2023. The absolute maximum cap was earned and awarded in January of the following year for each respective performance period. The performance criteria was not met for the 

86

performance period ended 2024. The tables below include POP awards that were earned but are unvested while any vested awards are reflected within the Consolidated Statements of Equity and Capital.  Prologis Promote Plan (“PPP”) Under the PPP, for promotes earned after January 2024, we award up to 25% of the third-party portion of promotes earned by Prologis from co-investment ventures to employees through a compensation pool. The awards may be settled in some combination of cash and full value awards, at our election. For promotes earned prior to January 2024, up to 40% of the third-party portion of promotes was awarded to certain employees. Annual LTI Equity Award Program (“Annual LTI Award”) The Annual LTI Award provides for grants to certain employees related to the most recent performance period