Andy Bui - 20 Jan 2026 Form 4 Insider Report for INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)

Role: VP, CHIEF ACCOUNTING OFFICER
Signature: /s/ Andy Bui
Issuer symbol: IIPR
Transactions as of: 20 Jan 2026
Net transactions value: $0
Form type: 4
Filing time: 21 Jan 2026, 19:08:12 UTC
Previous filing: 05 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Bui Andy	VP, CHIEF ACCOUNTING OFFICER	C/O INNOVATIVE INDUSTRIAL PROPERTIES, 11440 WEST BERNARDO COURT, SUITE 100, SAN DIEGO	/s/ Andy Bui	21 Jan 2026	0001836866

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IIPR	Common Stock	Award		+6,522	+67%		16,186	20 Jan 2026	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents grant of restricted stock. One-third of the shares 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 Innovative Industrial Properties, Inc. on such date.