Company: IIPR
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041241
Chunk: 28

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 28
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 especially as it pertained to the regulated cannabis industry. From the Company’s initial public offering through December 31, 2024, our Company achieved a total stockholder return of 389%, significantly outperforming the MSCI US REIT Index’s and S&P 500’s total stockholder returns during the same time period of 64% and 207%, respectively. These performance results are discussed in detail in the “Executive Compensation” section of this proxy statement. The affirmative vote of a majority of votes cast at the Annual Meeting, in person or by proxy, is required to approve this proposal. An abstention or broker non-vote will have no effect on the outcome of the vote for this proposal. Recommendation of the Board Our Board recommends that stockholders vote for the approval on a non-binding, advisory basis, of the compensation of our named executive officers. 17

TABLE OF CONTENTS

EXECUTIVE OFFICERS Our executive officers as of April 14, 2025 are as follows:

| ​ | Name          | ​ | ​ | Position                              | ​ |
| ​ | Alan Gold     | ​ | ​ | Executive Chairman                    | ​ |
| ​ | Paul Smithers | ​ | ​ | President and Chief Executive Officer | ​ |
| ​ | David Smith   | ​ | ​ | Chief Financial Officer and Treasurer | ​ |

Biographical information for Mr. Smith is set forth below. Biographical information with respect to Mr. Gold and Mr. Smithers is set forth above under “Election of Directors — Information Regarding Nominees.” David Smith , age 44, has served as our chief financial officer and treasurer since March 2023. Until March 2023, Mr. Smith served as executive vice president and chief financial officer of Aventine Property Group, Inc. (“Aventine”), a privately-held REIT focused on the regulated cannabis industry, since Aventine’s spin-off from Treehouse Real Estate Investment Trust, Inc. (“Treehouse”) in January 2021. Mr. Smith held the same roles at Treehouse, a privately-held REIT focused on the regulated cannabis industry, from October 2019 through December 2020. Prior to Treehouse, Mr. Smith served as the executive vice president and chief financial officer of New Senior Investment Group Inc. (NYSE: SNR) (“New Senior”) from January 2019 to September 2019. Mr. Smith joined New Senior from its financial sponsor, Fortress Investment Group, where he was in the Private