Prologis Director Guy A. Metcalfe Receives Deferred Phantom Shares and Dividend Equivalents

Transaction Summary

On October 2, 2026, Prologis, Inc. director Guy A. Metcalfe filed a Form 4 reporting acquisitions of derivative securities under the Prologis, Inc. Nonqualified Deferred Compensation Plan (NQDC Plan) effective September 30, 2026:

1. Phantom Shares - NQDC: Acquired 231.0 phantom shares at $0.00 per share via deferred director fees, bringing the reported phantom share holding to 683.4834 units.
2. Dividend Equivalent Units (Phantom) - NQDC: Acquired 3.6984 units at $0.00 per share, bringing the balance to 452.4834 units.
3. Dividend Equivalent Units - NQDC: Acquired 52.1336 units at $0.00 per share accrued on outstanding deferred stock units (DSUs), bringing the total to 6,378.3268 units.

Analysis & Market Implications

• Nature of the Filing: These transactions represent routine quarterly allocations of director compensation deferred into phantom equity, along with dividend equivalent accruals based on Prologis common stock dividend payments.
• Market Impact: These are non-discretionary equity-based compensation allocations rather than open-market purchases or sales. As such, the filing carries Low trading significance and provides no direct signal regarding insider sentiment on company valuation.