Long-Term Compensation

3 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

NOTE 9. LONG-TERM COMPENSATION

Prologis Outperformance Plan (“POP” formerly “OPP”)

We may grant points under our POP with a fair value at the date of grant using a Monte Carlo valuation model that assumes a risk free interest rate and an expected volatility. Such points relate to a three-year performance period. At March 31, 2016, we have POP points outstanding for the 2014 – 2016 and 2015 – 2017 performance periods under the POP.

Prologis Promote Plan (“PPP”)

In March 2016, we granted approximately 53 thousand RSUs with a grant date fair value of $2.3 million associated with the promotes earned in the fourth quarter of 2015.

Restricted Stock Units (“RSUs”)

The following table summarizes the activity for RSUs for the three months ended March 31, 2016 (units in thousands):

	Number of			Weighted Average		Number of
	RSUs			Grant-Date Fair Value		RSUs Vested
Balance at January 1, 2016		1,626		$	42.21		109
Granted		773
Vested and distributed		(757	)
Forfeited		(20	)
Balance at March 31, 2016		1,622		$	40.26		107

Operating Partnership Long-Term Incentive Plan Units (“LTIP Units”)

The following table summarizes the activity for LTIP Units for the three months ended March 31, 2016 (units in thousands):

	Number of		Weighted Average		Number of
	LTIP Units		Grant-Date Fair Value		LTIP Units Vested
Balance at January 1, 2016		1,244	$	42.21		303
Granted		779
Balance at March 31, 2016		2,023	$	40.33		691

Prologis Outperformance Plan Operating Partnership Long-Term Incentive Plan Units (“POP LTIP Units” formerly “OPP LTIP Units”)

At March 31, 2016, 2.5 million POP LTIP Units were outstanding with respect to the 2014 – 2016 and 2015 – 2017 performance periods. The following table summarizes the activity for the POP LTIP Units for the three months ended March 31, 2016 (units in thousands):

	Number of POP
	LTIP Units
Balance at January 1, 2016		3,464
Forfeited		(927	)
Balance at March 31, 2016		2,537

Stock Options

We have 3.9 million stock options outstanding and exercisable at March 31, 2016, with a weighted average exercise price of $32.78. No stock options were granted in 2016 or 2015.