Summary
This 8-K Amendment No. 1 from Prologis, Inc. (formerly AMB Property Corporation) provides an update regarding the "Say-on-Pay" advisory vote on executive compensation. Following a merger of equals transaction with ProLogis on June 3, 2011, which resulted in significant changes to the company's board, stockholders, and management, Prologis has decided to hold both an advisory Say-on-Pay vote and an advisory vote on the frequency of future Say-on-Pay votes at its 2012 Annual Meeting of Stockholders. This amendment clarifies the company's plan in response to a previous advisory vote at the May 5, 2011 Annual Meeting where stockholders recommended that an advisory vote on executive compensation should be held annually. The significant corporate changes stemming from the merger have necessitated this revised approach to the Say-on-Pay vote timing and scope.
Key Highlights
- 1Prologis, Inc. (formerly AMB Property Corporation) is filing an amendment to a previous 8-K report.
- 2The amendment pertains to the "Say-on-Pay" advisory vote on executive compensation.
- 3A merger of equals between AMB Property Corporation and ProLogis was completed on June 3, 2011, creating the new Prologis, Inc.
- 4This merger led to significant changes in the company's board of directors, stockholders, and management.
- 5The company will hold an advisory Say-on-Pay vote at its 2012 Annual Meeting of Stockholders.
- 6An advisory vote on the frequency of future Say-on-Pay votes will also be held at the 2012 Annual Meeting.
- 7This action is in response to a previous advisory stockholder recommendation for an annual Say-on-Pay vote.