Prologis, Inc. — Director's Dealing 2020

May 2, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Prologis, Inc. (PLD)
CIK: 0001045609
Period of Report: 2020-04-29

Reporting Person: KENNARD LYDIA H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-04-29	Common Stock	M	3335	$0.00	Acquired	39597	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-04-29	Deferred Stock Units and Dividend Equivalent Units- NQDC	$0.00	M	3335.2637	Disposed		Common Stock (3335.2637)	Direct
2020-04-29	Deferred Stock Units- NQDC	$0.00	A	2107	Acquired		Common Stock (2107)	Direct

Footnotes

F1: Conversion of Deferred Stock Units (DSUs) and Dividend Equivalent Units (DEUs) that were deferred under the Prologis, Inc. Nonqualified Deferred Compensation Plan (the NQDC Plan). Original grant terms provided for release of shares on the earlier of (a) the third anniversary of the Grant Date (May 3, 2017) or (b) the first annual meeting of the stockholders of Prologis. Shares were released on April 29, 2020. DSUs and DEUs convert into Prologis common stock upon vesting on a 1-for-1 basis, and have no exercise price or expiration date.

F2: Deferred Stock Units (DSUs) granted April 29, 2020 which vest 100% on the earlier of the first anniversary of the grant date, or the first annual meeting of the stockholders of Prologis that occurs after the grant date, and generally, are deferred under the Prologis, Inc. Nonqualified Deferred Compensation Plan until April 29, 2023. DSUs earn dividend equivalent units (DEUs) when dividends are paid with respect to Prologis common stock and have no exercisable or expiration date. DSUs and accrued DEUs are convertible into Prologis common stock on a 1-for-1 basis. Balance in column 9 includes DSUs and DEUs.