Brian J. Wolfe - Jan 1, 2023 Form 4 Insider Report for INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)

Role
VP, GEN. COUNSEL AND SECRETARY
Signature
/s/ Brian J. Wolfe
Stock symbol
IIPR
Transactions as of
Jan 1, 2023
Transactions value $
-$165,809
Form type
4
Date filed
1/3/2023, 07:48 PM
Previous filing
Jan 12, 2022
Next filing
Jan 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IIPR Common Stock Tax liability -$166K -1.64K -14.29% $101.35 9.81K Jan 1, 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 7.08K Jan 1, 2023 Common Stock 7.08K $0.00 Direct F2
holding IIPR Performance Share Units 2022 10.3K Jan 1, 2023 Common Stock 10.3K $0.00 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.