Prologis, Inc. — Director's Dealing 2010

May 6, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMB PROPERTY CORP (AMB)
CIK: 0001045609
Period of Report: 2010-05-06

Reporting Person: LOSH J MICHAEL (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-06	Common Stock	D	3670	—	Disposed	15117	Direct
2010-05-06	Stock Units	A	3670	—	Acquired	18787	Indirect
2010-05-06	Common Stock	A	2934	$0.00	Acquired	21721	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-05-06	Non-Qualified Stock Option (right to buy)	$26.58	A	6762	Acquired	2020-05-06	Common (6762)	Direct

Footnotes

F1: Upon vesting of the 3,670 shares of restricted stock on 5/6/2010, the reporting person deferred these shares into our nonqualified deferred compensation plan. The deferral of these shares was credited to the reporting person's account in the form of an equivalent number of stock units, each of which represents the reporting person's right to receive a share of AMB common stock upon distribution of his account. Distribution will occur upon retirement, death, other termination of directorship or disability, upon AMB's change of control or on such other date as the reporting person elects.

F2: Not applicable.

F3: Shares were granted pursuant to the Company's 2002 Stock Option and Incentive Plan and are subject to a repurchase right held by the Company, which lapses fully on May 5, 2011.

F4: Of the 21,721 shares beneficially owned, 5,934 shares are directly held (D) and 11,787shares are indirectly (I) held through a rabbi trust pursuant to our nonqualified deferred compensation plan. 4,000 shares of common stock are held by Mr. Losh's children, and he has disclaimed beneficial ownership of these securities.