0001415889-22-000501.txt : 20220112 0001415889-22-000501.hdr.sgml : 20220112 20220112151241 ACCESSION NUMBER: 0001415889-22-000501 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220111 FILED AS OF DATE: 20220112 DATE AS OF CHANGE: 20220112 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Smithers Paul E. CENTRAL INDEX KEY: 0001689308 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-37949 FILM NUMBER: 22526452 MAIL ADDRESS: STREET 1: C/O INNOVATIVE INDUSTRIAL PROPERTIES INC STREET 2: 17190 BERNARDO CENTER DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92128 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: INNOVATIVE INDUSTRIAL PROPERTIES INC CENTRAL INDEX KEY: 0001677576 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 812963381 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1389 CENTER DRIVE STREET 2: SUITE 200 CITY: PARK CITY STATE: UT ZIP: 84098 BUSINESS PHONE: (858) 997-3332 MAIL ADDRESS: STREET 1: 1389 CENTER DRIVE STREET 2: SUITE 200 CITY: PARK CITY STATE: UT ZIP: 84098 FORMER COMPANY: FORMER CONFORMED NAME: INNOVATIVE GREENHOUSE PROPERTIES INC DATE OF NAME CHANGE: 20160620 4 1 form4-01122022_120132.xml X0306 4 2022-01-11 0001677576 INNOVATIVE INDUSTRIAL PROPERTIES INC IIPR 0001689308 Smithers Paul E. C/O INNOVATIVE INDUSTRIAL PROPERTIES 11440 WEST BERNARDO COURT, SUITE 100 SAN DIEGO CA 92127 true true false false PRESIDENT, CEO AND DIRECTOR Common Stock 2022-01-11 4 A 0 11583 A 38026 D Performance Share Units 2022 0 2022-01-11 4 A 0 30792 0 A Common Stock 30792 30792 D Restricted Stock Units 2021 0 Common Stock 6654 6654 D Performance Share Units 2021 0 Common Stock 21238 21238 D Restricted Stock Units 2020 0 Common Stock 10653 10653 D Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2023, January 1, 2024 and January 1, 2025, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. (the "Company") on such date. 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. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Company's common stock. One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2022, January 1, 2023 and January 1, 2024, 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 (the "NQDC Plan"). 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, 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. One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2021, January 1, 2022 and January 1, 2023, 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. /s/ Brian J. Wolfe, Attorney-in-Fact 2022-01-12