Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 57

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 57
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otes that were significantly less than the Promotes available from prior calculation opportunities in recent years. Together, these opportunities generated total Promote revenue for the company of $57M. This resulted in a total aggregate PPP pool for 2024 of only $19M for all PPP participants. |

| l |     | For comparison, in 2023 there was a significant Promote calculation related to one of our largest Strategic Capital vehicles, USLF. This resulted in Promote revenue of $641M and larger PPP awards in 2023. |

The company took action to reduce the size and variability of future PPP awards.

| l |     | The reduction of PPP award pools from 40% to 25% of Promotes is expected to reduce the overall size of PPP awards going forward. |

| –  This action reduced the total size of PPP awards in 2024. The award pool related to one of the Promotes that gave rise to 2024 PPP awards was set at 25% because that Promote was earned in 2024.(1) |

| l |     | We also restructured the scheduling of Promote calculation opportunities for three of our vehicles, including two of our largest overall vehicles.(2) |

| –  In the past, all investments in a vehicle followed the same Promote period, leading to simultaneous payouts.   –  Future investments will have their own separate Promote periods, reducing variability in Promotes and, in turn, PPP awards. Note that the full impact of this change will take years to fully materialize. |

| (1) | The other relevant Promote was earned in 2023, and its PPP pool was therefore set at 40%. Awards related to it were paid in the first quarter of 2024. |

| (2) | Prologis Targeted U.S. Logistics Fund (USLF), Prologis European Logistics Fund and Prologis China Core Logistics Fund. |

| COMPENSATION DISCUSSION AND ANALYSIS |

Other Compensation Considerations

| STRONG COMPENSATION GOVERNANCE                                                                                                     |     |                                                                       |
| What we do                                                                                                                         |     | What we don’t do                                                      |
| 100% of CEO pay is at-risk and not guaranteed                                                                                      
 Robust stock ownership requirements: l   CEO: $10M l   Other NEOs: 3x salary l   Other senior officers