0001415889-24-001445.txt : 20240118 0001415889-24-001445.hdr.sgml : 20240118 20240118102716 ACCESSION NUMBER: 0001415889-24-001445 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240117 FILED AS OF DATE: 20240118 DATE AS OF CHANGE: 20240118 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Gold Alan D CENTRAL INDEX KEY: 0001298786 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-37949 FILM NUMBER: 24540440 MAIL ADDRESS: STREET 1: 17140 BERNARDO CENTER DRIVE STREET 2: SUITE 195 CITY: SAN DIEGO STATE: CA ZIP: 92128 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: INNOVATIVE INDUSTRIAL PROPERTIES INC CENTRAL INDEX KEY: 0001677576 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 812963381 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1389 CENTER DRIVE STREET 2: SUITE 200 CITY: PARK CITY STATE: UT ZIP: 84098 BUSINESS PHONE: (858) 997-3332 MAIL ADDRESS: STREET 1: 1389 CENTER DRIVE STREET 2: SUITE 200 CITY: PARK CITY STATE: UT ZIP: 84098 FORMER COMPANY: FORMER CONFORMED NAME: INNOVATIVE GREENHOUSE PROPERTIES INC DATE OF NAME CHANGE: 20160620 4 1 form4-01182024_030110.xml X0508 4 2024-01-17 0001677576 INNOVATIVE INDUSTRIAL PROPERTIES INC IIPR 0001298786 Gold Alan D C/O INNOVATIVE INDUSTRIAL PROPERTIES 11440 WEST BERNARDO COURT, SUITE 100 SAN DIEGO CA 92127 true true false false EXECUTIVE CHAIRMAN 0 Common Stock 213308 D Common Stock 56500 I By SLAT Restricted Stock Units 2024 0 2024-01-17 4 A 0 38124 0 A Common Stock 38124 38124 D Restricted Stock Units 2023 0 Common Stock 31566 31566 D Restricted Stock Units 2022 0 Common Stock 16218 16218 D Restricted Stock Units 2021 0 Common Stock 12612 12612 D Restricted Stock Units 2020 0 Common Stock 15978 15978 D Performance Share Units 2022 0 Common Stock 46188 46188 D A Spousal Lifetime Access Trust ("SLAT") for the benefit of the reporting person's spouse and adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of the SLAT. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Innovative Industrial Properties, Inc.'s (the "Company") common stock. One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2025, January 1, 2026 and January 1, 2027, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan"). One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2024, January 1, 2025 and January 1, 2026, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan. One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2023, January 1, 2024 and January 1, 2025, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan. Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee following the conclusion of the performance period. /s/ Brian J. Wolfe, Attorney-in-Fact 2024-01-18