Summary
This 8-K/A filing from Prologis, Inc. (PLD) provides updated details on the compensation packages for its newly appointed CEO, Daniel S. Letter, and Executive Chairman, Hamid R. Moghadam. The compensation reflects their roles, which became effective January 1, 2026, following a prior 8-K filing in February 2025. Investors should note the significant target incentive opportunities for both executives, tied to company performance objectives, as well as a one-time equity grant for Mr. Moghadam to ensure retention in his new capacity. The focus of this amendment is on the remuneration details determined by the Compensation Committee. Mr. Letter's compensation includes a substantial base salary, a target annual bonus of 200% of his base salary, and a significant annual long-term incentive (LTI) equity award. Mr. Moghadam's compensation as Executive Chairman is primarily performance-based equity awards, with a notable one-time grant of LTIP Units to support his continued commitment to the company.
Key Highlights
- 1Daniel S. Letter's compensation as CEO includes a $1,000,000 base salary.
- 2Mr. Letter is eligible for an annual bonus targeted at 200% of his base salary.
- 3Mr. Letter's target annual LTI equity award for 2026 is $15,750,000, performance-dependent.
- 4Hamid R. Moghadam, as Executive Chairman, will receive compensation primarily through performance-based equity awards.
- 5Mr. Moghadam was granted a PSU award with a target value of $13,750,000 for 2026.
- 6Mr. Moghadam received a one-time grant of 220,000 LTIP Units, vesting over three years, to support retention.