Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 118

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 118
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 the Board. See the discussion above and also the narrative discussion that follows the Nonqualified Deferred Compensation in Fiscal Year 2024 table above under “Executive Compensation.” |

| (3) | Mr. Skelton retired from the Board in May 2024. |

| (4) | Represents the grant date fair value of 2,080 DSUs awarded to each of our non-employee directors who were elected at our annual meeting on May 9, 2024. The value of the DSUs is based on the closing price of our common stock on the date of grant which was $108.15 per share. The DSUs vest on the earlier of the date of our next annual meeting or the one-year anniversary of the grant date. These awards are expected to vest on May 8, 2025. Receipt of the vested DSUs is deferred until three years from the grant date. Messrs. Lyons and O’Connor have elected to further defer the receipt of the DSUs granted in 2024 until their service on the Board ends. While they are outstanding, DSUs earn DEUs, which are vested and paid to the director under the same terms as the underlying DSU award. |

| We awarded DSUs under similar terms to our directors in 2018, which were distributed (1,634 shares) in April 2024 to all directors other than Messrs. Fotiades, Lyons and O’Connor, each of whom had previously elected to defer receipt under our 2012 NQDC Plan and Messrs. Connor and Metcalfe, and Ms. Modjtabai who were not members of the Board in 2019. Awards granted in 2022 and 2023 are now fully vested and are scheduled to be distributed in May 2025 and May 2026, respectively, unless a specific deferral election has been made by the director. |

| Prior to the Merger, we granted restricted stock to our directors, and the Trust granted DSUs to members of its board. The restricted stock had a one-year vesting period and directors could elect to defer the awards after vesting under the AMB NQ Plans discussed above. The DSUs granted by the Trust were immediately vested but were required to be deferred until after the director’s service ended. The DSUs held by those trustees who joined our Board after the Merger were assumed by us under the Merger agreement, were converted based on the Merger exchange ratio, and continue to be deferred. These