Summary
This 8-K filing from AMB Property Corporation (which later became Prologis, Inc.) on January 31, 2007, discloses a significant stock option exercise by its Chairman and CEO, Hamid R. Moghadam. Mr. Moghadam exercised vested stock options in a stock-for-stock transaction, resulting in a net increase of 402,232 common shares to his holdings. Notably, these shares were then deferred into his company-provided deferred compensation plan, rather than being sold on the open market. This indicates the CEO's continued confidence in the company's future prospects and a strategy to increase his long-term equity stake.
Key Highlights
- 1CEO Hamid R. Moghadam exercised 606,384 vested stock options on January 29, 2007.
- 2The transaction was conducted on a stock-for-stock basis, meaning no cash was received by the CEO from exercising the options.
- 3Mr. Moghadam's net shareholding increased by 402,232 common shares as a result of the exercise.
- 4The newly acquired shares were deferred into the CEO's deferred compensation plan, not sold in the open market.
- 5This transaction demonstrates the CEO's commitment to holding AMB Property Corporation stock.
- 6The options exercised were originally granted in 1998 and 2000 with expiration dates in 2008 and 2010.
- 7Post-transaction, Mr. Moghadam beneficially owns 2,881,374 common shares and units, and holds options for an additional 2,072,703 shares.