Prologis, Inc. (PLD) Earnings Call Transcript & Summary

Good afternoon and welcome to Prologis' 2020 Annual Meeting of Stockholders. I'm Hamid Moghadam, Chairman and CEO. I'm here with Ed Nekritz, our Chief Legal Officer, General Counsel and Secretary; and Tracy Ward, our Head of Investor Relations.

Thank you for joining us today. As you know, we gave a business update on our earnings call last week, which is available for replay on our corporate website. We will address questions not covered by our earnings call at the end of this meeting. For those questions we did not address during the meeting, we will post responses to our Investor Relations page on our website as appropriate and within a reasonable time following the meeting.

Now at this time, a quorum is present, so I'd like to call the meeting to order. All of our directors are attending this meeting virtually. I'd like to commend Mike Losh, who is retiring today from our Board. Thank you, Mike, for your many years of service and dedication to our company and our shareholders. We have 5 orders of business today: the election of the following Director nominees: myself, Cristina Bita, George Fotiades, Lydia Kennard, Bud Lyons, Avid Modjtabai, Dave O'connor, Olivier Piani, Jeff Skelton, Carl Webb and Bill Zollars; second, the approval of our executive compensation for 2019; third, the approval of our 2020 long-term incentive plan; fourth, the approval of our charter amendment to increase the number of authorized shares of common stock; and finally, fifth, the ratification of our appointment of KPMG, our independent registered public accounting firm, for 2020. Representatives from KPMG are attending today to answer any questions you might have. The polls are now open.

Any stockholder who has not yet voted or wishes to change their vote, may do so by clicking on the voting button on the web portal and follow the instructions there. Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote, do not need to take any further action.

As everyone has had the opportunity to vote, I declare the polls closed. Ed, please announce the voting results.

Each nominated Director and each proposal has received the requisite number of favorable votes. All nominated directors are hereby elected, and all proposals are hereby approved.

Thanks, Ed. The meeting is hereby adjourned. Thank you very much for joining us today.