SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

NEKRITZ EDWARD S

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/17/2003

3. Issuer Name and Ticker or Trading Symbol
PROLOGIS [ PLD ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Managing Director & Secretary

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares of Beneficial Interest, par value $0.01	11,246	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Options Right-to-buy	09/08/1999⁽¹⁾	09/08/2007	Common Shares of Beneficial Interest, par value $0.01	4,712	21.2188	D
Options Right-to-buy	09/08/1999⁽¹⁾	09/08/2007	Common Shares of Beneficial Interest, par value $0.01	23,564	21.2188	D
Options Right-to-buy	10/15/1999⁽²⁾	10/15/2008	Common Shares of Beneficial Interest, par value $0.01	14,222	21.0938	D
Options Right-to-buy	09/15/2000⁽³⁾	09/15/2009	Common Shares of Beneficial Interest, par value $0.01	16,107	18.625	D
Options Right-to-buy	09/14/2001⁽⁴⁾	09/14/2010	Common Shares of Beneficial Interest, par value $0.01	16,362	24.25	D
Options Right-to-buy	09/19/2002⁽⁵⁾	09/19/2011	Common Shares of Beneficial Interest, par value $0.01	17,820	20.675	D
Performance Share Award	12/31/2003	08/08/1988⁽⁷⁾	Common Shares of Beneficial Interest, par value $0.01	4,000	0⁽⁶⁾	D
Options Right-to-buy	09/26/2003⁽⁸⁾	09/26/2012	Common Shares of Beneficial Interest, par value $0.01	20,000	24.755	D
Performance Share Award	12/31/2004	08/08/1988⁽⁷⁾	Common Shares of Beneficial Interest, par value $0.01	6,600	0⁽⁶⁾	D
Options Right-to-buy	11/27/2002	09/08/2007	Common Shares of Beneficial Interest, par value $0.01	12,459	24.643	D

Explanation of Responses:

1. The option vests in four equal annual installments beginning on September 8, 1999

2. The option vests in four equal annual installments beginning on October 15, 1999

3. The option vests in four equal annual installments beginning on September 15, 2000

4. The option vests in four equal annual installments beginning on September 14, 2001

5. The option vests in four equal annual installments beginning on September 19, 2002

6. The performance share award converts into common stock on a one-for-one basis

7. The performance share award is convertible immediately upon vesting and has no expiration date.

8. The option vests in four equal annual installments beginning on September 26, 2003

	/s/ Edward S. Nekritz	07/25/2003
	** 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 5 (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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