SEC Form 4 · accession 0001764631-26-000006
INNOVATIVE INDUSTRIAL PROPERTIES INC · IIPR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Jon Smith
Officer — CFO AND TREASURER
Period of report
Jun 19, 2026
Accepted (ET)
Jun 23, 2026 · 5:08 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 StockF1 | Jun 19, 2026 | A | 9,219 | — | A | 32,801 | D |
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 2023F2,F3 | — | holding | — | — | — | — | — | Common Stock | 13,080 | 13,080 | D |
| Restricted Stock Units 2024F2,F4 | — | holding | — | — | — | — | — | Common Stock | 10,893 | 10,893 | D |
| Restricted Stock Units 2025F2,F5 | — | holding | — | — | — | — | — | Common Stock | 9,110 | 9,110 | D |
Explanation of responses
- F1Represents 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. (the "Company") on such date.
- F2Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.
- F3One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2024, January 1, 2025, and January 1, 2026, 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.
- F4One-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.
- F5One-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 NQDC Plan.