0001415889-23-000168.txt : 20230103
0001415889-23-000168.hdr.sgml : 20230103
20230103205147
ACCESSION NUMBER: 0001415889-23-000168
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230101
FILED AS OF DATE: 20230103
DATE AS OF CHANGE: 20230103
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: 23504122
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
form4-01042023_010139.xml
X0306
4
2023-01-01
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
2023-01-01
4
F
0
1428
101.35
D
36598
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
Performance Share Units 2022
0
Common Stock
30792
30792
D
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.
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.
The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's 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, 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.
/s/ Brian J. Wolfe, Attorney-in-Fact
2023-01-03