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SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person* Moghadam Hamid (Last) (First) (Middle) C/O PROLOGIS, INC., PIER 1, BAY 1 (Street) SAN FRANCISCO CA 94111 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Prologis, Inc. [ PLD ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 03/26/2026
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/26/2026		G	V	1,019,089	D	$0	0	I	By LLC
Common Stock	03/26/2026		G	V	1,019,089	A	$0	1,019,089	I	By Trust(1)
Common Stock								925,407	I	By Rabbi Trust(2)
Common Stock								131,775	I	By Trust(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Units	(4)	03/31/2026		G	V		852,817	(4)	(4)	Common Stock	852,817	$0.01	479,926	D
LTIP Units	(4)	03/31/2026		G	V		128,986	(4)	(4)	Common Stock	128,986	$0.01	350,940	D
LTIP Units	(4)	03/31/2026		G	V	852,817		(4)	(4)	Common Stock	852,817	$0.01	2,559,802	I	By LLC(5)
LTIP Units	(4)	03/31/2026		G	V	128,986		(4)	(4)	Common Stock	128,986	$0.01	2,688,788	I	By LLC(5)
LTIP Units	(4)							(4)	(4)	Common Stock	18,233		18,233	I	By Trust(6)

Explanation of Responses:

1. The common stock held by the LLC prior to the transactions reported herein reflect a transfer of 1,019,089 shares of common stock previously reported as held by the LLC to its sole member, a trust for the benefit of the reporting person's children and for which the reporting person has investment control (the "2021 Trust"). The transfer of common stock to the 2021 Trust effected a change in form of ownership without changing the reporting person's pecuniary interest.

2. Held indirectly through a rabbi trust pursuant to our nonqualified deferred compensation plans.

3. Held indirectly in a trust with the reporting person as trustee.

4. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in Prologis, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of Common Stock of the Company (the "Common Stock"), except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested LTIP Units into Common Units and redeem Common Units have no expiration dates.

5. Represents LTIP Units transferred to a Limited Liability Company (LLC) where the reporting person is the manager.

6. Represents LTIP Units held indirectly in the 2021 Trust, which were previously reported as held indirectly in a trust FBO the reporting person with the reporting person and his spouse as sole trustees.

	/s/ Tammy Colvocoresses Attorney-In-Fact for Hamid R. Moghadam	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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