Summary
Prologis, Inc. (PLD) announced on January 20, 2015, the appointment of David P. O’Connor as an independent director to its board. This addition aims to strengthen the board's oversight and governance capabilities. Mr. O’Connor's appointment is in line with the company's commitment to maintaining a well-qualified and independent board. As part of his role, Mr. O’Connor will receive compensation in the form of an annual deferred stock unit grant valued at $145,000 and an annual cash retainer of $95,000, with potential additional retainers for committee service and meeting attendance exceeding a certain threshold. This compensation structure aligns with the company's Long-term Incentive Plan (LTIP) and is designed to compensate non-employee directors for their contributions and expertise.
Key Highlights
- 1Appointment of David P. O’Connor as an independent director to the Prologis, Inc. board.
- 2Mr. O’Connor meets independence requirements set by the NYSE and SEC.
- 3Annual compensation for Mr. O’Connor includes a $145,000 deferred stock unit grant.
- 4Annual cash retainer for Mr. O’Connor is $95,000.
- 5Additional cash retainers are available for committee service and exceeding meeting attendance expectations.
- 6Mr. O’Connor's compensation is governed by the Prologis, Inc. 2012 Long-term Incentive Plan (LTIP).
- 7The filing includes Exhibit 99.1, a press release announcing the appointment.