0001638599-21-000386.txt : 20210317 0001638599-21-000386.hdr.sgml : 20210317 20210317213844 ACCESSION NUMBER: 0001638599-21-000386 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210317 FILED AS OF DATE: 20210317 DATE AS OF CHANGE: 20210317 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: 21752814 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 doc4_7180.xml PRIMARY DOCUMENT X0306 4 2021-03-17 0 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 1 1 0 0 President, CEO and Director Common Stock 2021-03-17 4 S 0 2000 195.00 D 31740 D Restricted Stock Units 2020 0 Common Stock 10653 10653 D Restricted Stock Units 2021 0 Common Stock 6654 6654 D Performance Share Units 2021 0 Common Stock 21238 21238 D Each 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. 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 Nonqualified Deferred Compensation Plan (the "NQDC Plan"). 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 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 shareholder 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. /s/ Brian J. Wolfe, Attorney-in-Fact 2021-03-17