SEC Form 4 · accession 0001298786-26-000004
INNOVATIVE INDUSTRIAL PROPERTIES INC · IIPR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Alan D Gold
Officer — EXECUTIVE CHAIRMAN · Director
Period of report
Jun 19, 2026
Accepted (ET)
Jun 23, 2026 · 5:10 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001677576
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 213,308 | D | ||
| Common StockF1 | holding | — | — | — | 58,500 | I | By SLAT | |
| Common StockF2 | holding | — | — | — | 2,600 | I | By Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units 2026F3,F4 | — | Jun 19, 2026 | A | 33,960 | A | — | — | Common Stock | 33,960 | 33,960 | D |
| Restricted Stock Units 2020F3,F5 | — | holding | — | — | — | — | — | Common Stock | 15,978 | 15,978 | D |
| Restricted Stock Units 2021F3,F5 | — | holding | — | — | — | — | — | Common Stock | 12,612 | 12,612 | D |
| Restricted Stock Units 2022F3,F5 | — | holding | — | — | — | — | — | Common Stock | 16,218 | 16,218 | D |
| Restricted Stock Units 2023F3,F5 | — | holding | — | — | — | — | — | Common Stock | 31,566 | 31,566 | D |
| Restricted Stock Units 2024F3,F6 | — | holding | — | — | — | — | — | Common Stock | 38,124 | 38,124 | D |
| Restricted Stock Units 2025F3,F7 | — | holding | — | — | — | — | — | Common Stock | 45,438 | 45,438 | D |
| Restricted Stock Units 2026F3,F4 | — | holding | — | — | — | — | — | Common Stock | 66,702 | 66,702 | D |
Explanation of responses
- F1A Spousal Lifetime Access Trust ("SLAT") for the benefit of the reporting person's spouse and adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of the SLAT.
- F2SMG Irrevocable Trust for the benefit of the reporting person's adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of SMG Irrevocable Trust.
- F3Each 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.
- F4One-third of the RSUs 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 the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan.
- F5The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan.
- F6One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2025, January 1, 2026, and January 1, 2027, 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.
- F7One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027, and January 1, 2028, 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.