Brian J. Wolfe - 01 Jan 2023 Form 4 Insider Report for INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)

Role
VP, GEN. COUNSEL AND SECRETARY
Signature
/s/ Brian J. Wolfe
Issuer symbol
IIPR
Transactions as of
01 Jan 2023
Net transactions value
-$165,809
Form type
4
Filing time
03 Jan 2023, 19:48:22 UTC
Previous filing
12 Jan 2022
Next filing
20 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IIPR Common Stock Tax liability $165,809 -1,636 -14% $101.35 9,813 01 Jan 2023 Direct F1

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
holding IIPR Performance Share Units 2021 7,080 01 Jan 2023 Common Stock 7,080 $0.000000 Direct F2
holding IIPR Performance Share Units 2022 10,264 01 Jan 2023 Common Stock 10,264 $0.000000 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 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 of the Board of Directors of the Company following the conclusion of the performance period.
F3 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.