| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | IIPR | Common Stock | Gift | -1K | -0.47% | 213K | Mar 18, 2021 | Direct | F1 | ||
| transaction | IIPR | Common Stock | Tax liability | -$520K | -1.98K | -0.93% | $262.91 | 211K | Jan 1, 2022 | Direct | F2, F3 |
| holding | IIPR | Common Stock | 56.5K | Jan 1, 2022 | By SLAT | F4 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | IIPR | Restricted Stock Units 2020 | 16K | Jan 1, 2022 | Common Stock | 16K | $0.00 | Direct | F5, F6 | |||||
| holding | IIPR | Restricted Stock Units 2021 | 12.6K | Jan 1, 2022 | Common Stock | 12.6K | $0.00 | Direct | F5, F7 | |||||
| holding | IIPR | Performance Share Units 2021 | 31.9K | Jan 1, 2022 | Common Stock | 31.9K | $0.00 | Direct | F8 |
| Id | Content |
|---|---|
| F1 | Represents bona fide gift to charity. |
| F2 | 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. |
| F3 | The reporting person discontinued reporting beneficial ownership of a total of 67,500 shares of common stock of the Company held by two irrevocable trusts of which a family member of the reporting person is a trustee and of which one of the reporting person's adult children is the sole beneficiary. |
| F4 | A Spousal Lifetime Access Trust ("SLAT") for the benefit of the reporting person's spouse and adult children. The reporting person and the reporting person's spouse control the entity that serves as trustee of the SLAT. |
| F5 | Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Company's common stock. |
| F6 | One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2021, January 1, 2022 and January 1, 2023, 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"). |
| F7 | One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2022, January 1, 2023 and January 1, 2024, 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. |
| F8 | 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, 2021 and ending on December 31, 2023, and certification of such performance by the Compensation Committee following the conclusion of the performance period. |