Long-Term Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Assumptions Used for Each Grant

The following table details the assumptions used for each grant based on the year it was granted (dollars in thousands):

	2021			2020			2019
Risk free interest rate		0.2	%		1.7	%		2.6	%
Prologis expected volatility		32.0	%		19.0	%		23.0	%
MSCI US REIT Index expected volatility		29.0	%		13.0	%		17.0	%
Aggregate fair value	$	30,300		$	28,800		$	21,200

POP LTIP Units [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The performance criteria were met for the 2019 – 2021, 2018 – 2020, 2017 – 2019 and 2016 – 2018 performance periods at the end of the initial three-year performance period, which resulted in awards being earned in January 2022, 2021, 2020 and 2019, respectively, in the form of the awards listed below. See below for details on these performance periods (dollars, shares and units in thousands, except average price):

	2019 – 2021		2018 – 2020		2017 – 2019 (1)		2016 – 2018 (1)
Performance pool	$	100,000	$	100,000	$	119,753	$	114,950
Common stock shares		34		61		384		489
Restricted stock units		134		242		-		-
POP LTIP Units and LTIP Units		426		701		804		1,082
Average price used to determine number of awards	$	168.37	$	99.67	$	100.79	$	73.20

(1) These performance period amounts include awards earned subsequent to the initial three-year performance period. One-third of the remaining compensation pool in excess of the $75 million aggregate initial award amounts can be earned at the end of each of the three years following the end of the initial three-year performance period if our performance meets or exceeds the MSCI US REIT Index at the end of each of such three years.

Restricted Stock Units (RSUs) [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The following table summarizes the activity for RSUs for the year ended December 31, 2021 (units in thousands):

	Unvested RSUs			Weighted Average Grant Date Fair Value
Balance at January 1, 2021		986		$	80.32
Granted (1)		826			90.24
Vested and distributed		(414	)		78.82
Forfeited		(161	)		77.08
Balance at December 31, 2021		1,237		$	87.87

(1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. Unvested units are included in the award discussion above. These amounts also include awards earned for prior performance periods related to the compensation pool in excess of the initial award.

Long Term Incentive Plan Units [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The following table summarizes the activity for LTIP Units for the year ended December 31, 2021 (units in thousands):

	Unvested LTIP Units			Weighted Average Grant Date Fair Value
Balance at January 1, 2021		3,052		$	66.50
Granted (1)		1,337			64.77
Forfeited		(51	)		55.66
Vested LTIP Units		(1,021	)		80.55
Balance at December 31, 2021		3,317		$	61.65

(1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. Unvested units are included in the award discussion above. These amounts also include awards earned for prior performance periods related to the compensation pool in excess of the initial award.