CFO David Smith Receives 9,219 Restricted Stock Units in Innovative Industrial Properties

Innovative Industrial Properties Inc. (IIPR) CFO and Treasurer David Smith received 9,219 restricted stock units on June 19, 2026, as reported in this Form 4 filing. The restricted stock grant vests in three equal installments on January 1, 2027, January 1, 2028, and January 1, 2029, contingent on Smith's continued employment with the company. Following this transaction, Smith's direct holdings increased to 32,801 common shares. The filing also details Smith's existing restricted stock unit holdings from previous grants: 13,080 RSUs from 2023 (vesting through 2026), 10,893 RSUs from 2024 (vesting through 2027), and 9,110 RSUs from 2025 (vesting through 2028). All RSUs represent contingent rights to receive common stock upon vesting under the company's NQDC Plan.