Prologis Appoints New CEO and Executive Chairman with Detailed Compensation Packages

Summary

On January 1, 2026, Daniel S. Letter was appointed as the new Chief Executive Officer (CEO) of Prologis, Inc., succeeding in this role from Hamid R. Moghadam, who transitioned to Executive Chairman of the Board. The Compensation Committee approved compensation packages for both executives, with Mr. Letter receiving an annual base salary of $1,000,000, a target annual bonus of 200% of his base salary, and a target long-term incentive equity award of $15,750,000 for 2026. Mr. Moghadam's compensation is performance-based, with a target award of $13,750,000 in Performance Stock Units (PSUs) for 2026, and a one-time service-based grant of 220,000 LTIP Units to support his retention.