Long-Term Compensation

3 Months Ended

Mar. 31, 2012

Long-Term Compensation [Abstract]

Long-Term Compensation

11. Long-Term Compensation

Under its incentive plans, Prologis had stock options and full value awards (restricted stock, restricted share units (“RSUs”) and performance based shares (“PSAs”)).

Summary of Activity

The activity for the three months ended March 31, 2012, with respect to our stock options, was as follows:

	Options Outstanding
	Number of Options			Weighted Average Exercise  Price		Options Exercisable
Balance at December 31, 2011		9,879,960		$	34.93
Exercised		(899,466	)		22.47
Forfeited		(67,193	)		41.52
Balance at March 31, 2012		8,913,301		$	36.14		8,239,510

The activity for the three months ended March 31, 2012, with respect to our unvested restricted stock, was as follows:

	Number of Shares			Weighted Average Grant  Date Fair Value
Balance at December 31, 2011		1,192,982
Granted		5,000
Vested		(444,738	)
Forfeited		(1,375	)
Balance at March 31, 2012		751,869		$	34.03

The activity for the three months ended March 31, 2012, with respect to our RSU and PSA awards, was as follows:

	Number of Shares			Weighted  Average Grant-Date Fair Value		Number of Shares  Vested
Balance at December 31, 2011		1,684,713
Granted		1,562,227
Distributed		(456,468	)
Forfeited/Expired		(38,621	)
Balance at March 31, 2012		2,751,851		$	31.66		48,735

In the first quarter of 2012, we granted 1,523,222 RSUs, which will vest over three years. In addition, 39,005 PSAs were earned based on 2011 performance.