| Name | Relationship | Address | Signature | Signature date | CIK |
|---|---|---|---|---|---|
| Gold Alan D | EXECUTIVE CHAIRMAN, Director | C/O INNOVATIVE INDUSTRIAL PROPERTIES, 11440 WEST BERNARDO COURT, SUITE 100, SAN DIEGO | /s/ Alan D. Gold | 25 Nov 2025 | 0001298786 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | IIPR | Common Stock | Purchase | $127,634 | +2,600 | $49.09 | 2,600 | 24 Nov 2025 | By Trust | F1 | |
| holding | IIPR | Common Stock | 213,308 | 24 Nov 2025 | Direct | ||||||
| holding | IIPR | Common Stock | 58,500 | 24 Nov 2025 | By SLAT | F2 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | IIPR | Restricted Stock Units 2022 | 16,218 | 24 Nov 2025 | Common Stock | 16,218 | $0.000000 | Direct | F3, F4 | |||||
| holding | IIPR | Restricted Stock Units 2023 | 31,566 | 24 Nov 2025 | Common Stock | 31,566 | $0.000000 | Direct | F3, F5 | |||||
| holding | IIPR | Restricted Stock Units 2024 | 38,124 | 24 Nov 2025 | Common Stock | 38,124 | $0.000000 | Direct | F3, F6 | |||||
| holding | IIPR | Restricted Stock Units 2025 | 45,438 | 24 Nov 2025 | Common Stock | 45,438 | $0.000000 | Direct | F3, F7 | |||||
| holding | IIPR | Restricted Stock Units 2021 | 12,612 | 24 Nov 2025 | Common Stock | 12,612 | $0.000000 | Direct | F3, F8 | |||||
| holding | IIPR | Restricted Stock Units 2020 | 15,978 | 24 Nov 2025 | Common Stock | 15,978 | $0.000000 | Direct | F3, F8 |
| Id | Content |
|---|---|
| F1 | SMG Irrevocable Trust for the benefit of the reporting person's adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of SMG Irrevocable Trust. |
| F2 | 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. |
| F3 | 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. |
| F4 | 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. |
| F5 | 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. |
| F6 | 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 NQDC Plan. |
| F7 | One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027 and January 1, 2028, 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"). |
| F8 | The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan. |