Alan D. Gold - 20 Jan 2026 Form 4 Insider Report for INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)

Role
EXECUTIVE CHAIRMAN, Director
Signature
/s/ Alan D. Gold
Issuer symbol
IIPR
Transactions as of
20 Jan 2026
Net transactions value
$0
Form type
4
Filing time
21 Jan 2026, 19:42:17 UTC
Previous filing
25 Nov 2025
SEC
View on sec.gov

Reporting Owners (1)

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 21 Jan 2026 0001298786

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding IIPR Common Stock 213,308 20 Jan 2026 Direct
holding IIPR Common Stock 58,500 20 Jan 2026 By SLAT F1
holding IIPR Common Stock 2,600 20 Jan 2026 By Trust F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IIPR Restricted Stock Units 2026 Award $0 +66,702 $0.000000 66,702 20 Jan 2026 Common Stock 66,702 Direct F3, F4
holding IIPR Restricted Stock Units 2020 15,978 20 Jan 2026 Common Stock 15,978 Direct F3, F5
holding IIPR Restricted Stock Units 2021 12,612 20 Jan 2026 Common Stock 12,612 Direct F3, F5
holding IIPR Restricted Stock Units 2022 16,218 20 Jan 2026 Common Stock 16,218 Direct F3, F5
holding IIPR Restricted Stock Units 2023 31,566 20 Jan 2026 Common Stock 31,566 Direct F3, F5
holding IIPR Restricted Stock Units 2024 38,124 20 Jan 2026 Common Stock 38,124 Direct F3, F6
holding IIPR Restricted Stock Units 2025 45,438 20 Jan 2026 Common Stock 45,438 Direct F3, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 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.
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, 2027, January 1, 2028, and January 1, 2029, 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 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.