Alan D. Gold - 11 Jan 2022 Form 4 Insider Report for INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)

Role
EXECUTIVE CHAIRMAN, Director
Signature
/s/ Brian J. Wolfe, Attorney-in-Fact
Issuer symbol
IIPR
Transactions as of
11 Jan 2022
Net transactions value
$0
Form type
4
Filing time
12 Jan 2022, 14:18:01 UTC
Previous filing
04 Jan 2022
Next filing
11 Aug 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding IIPR Common Stock 56,500 11 Jan 2022 By SLAT F1
holding IIPR Common Stock 211,308 11 Jan 2022 Direct

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 2022 Award $0 +16,218 $0.000000 16,218 11 Jan 2022 Common Stock 16,218 $0.000000 Direct F2, F3
transaction IIPR Performance Share Units 2022 Award $0 +46,188 $0.000000 46,188 11 Jan 2022 Common Stock 46,188 $0.000000 Direct F4
holding IIPR Restricted Stock Units 2020 15,978 11 Jan 2022 Common Stock 15,978 $0.000000 Direct F2, F5
holding IIPR Restricted Stock Units 2021 12,612 11 Jan 2022 Common Stock 12,612 $0.000000 Direct F2, F6
holding IIPR Performance Share Units 2021 31,857 11 Jan 2022 Common Stock 31,857 $0.000000 Direct 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 children. The reporting person and the reporting person's spouse control the entity that serves as trustee of the SLAT.
F2 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.
F3 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 Nonqualified Deferred Compensation Plan (the "NQDC Plan").
F4 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.
F5 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 NQDC Plan.
F6 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.
F7 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, 2021 and ending on December 31, 2023, and certification of such performance by the Compensation Committee of the Board of Directors of the Company following the conclusion of the performance period.