0001415889-24-000308.txt : 20240103 0001415889-24-000308.hdr.sgml : 20240103 20240103163907 ACCESSION NUMBER: 0001415889-24-000308 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240101 FILED AS OF DATE: 20240103 DATE AS OF CHANGE: 20240103 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Wolfe Brian J. CENTRAL INDEX KEY: 0001689397 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-37949 FILM NUMBER: 24507315 MAIL ADDRESS: STREET 1: C/O INNOVATIVE INDUSTRIAL PROPERTIES INC STREET 2: 17190 BERNARDO CENTER DRIVE 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 form4-01032024_090145.xml X0508 4 2024-01-01 0001677576 INNOVATIVE INDUSTRIAL PROPERTIES INC IIPR 0001689397 Wolfe Brian J. C/O INNOVATIVE INDUSTRIAL PROPERTIES 11440 WEST BERNARDO COURT, SUITE 100 SAN DIEGO CA 92127 false true false false VP, GEN. COUNSEL AND SECRETARY 0 Common Stock 2024-01-01 4 F 0 885 100.82 D 8928 D Performance Share Units 2022 0 Common Stock 10264 10264 D Restricted Stock Units 2023 0 Common Stock 8118 8118 D Represents payment of tax liability by the forfeiture of shares of common stock to Innovative Industrial Properties, Inc. (the "Company") incident to the vesting of the reporting person's restricted stock. 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 the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of the Company following the conclusion of the performance period. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Company's common stock. 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 Nonqualified Deferred Compensation Plan. /s/ Brian J. Wolfe 2024-01-03