Company: IIPR
Filing Date: 2025-03-17
Form Type: 8-K
Source: 0001104659-25-024499
Chunk: 0

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-03-17
Form: 8-K
Item: Item 8.01
Chunk 0
---
Item 8.01
Other Events.

On
March 17, 2025, the Company announced that its Board of Directors authorized a share repurchase program of up to $100 million of the Company’s
common stock. Repurchases will be made through open market purchases, block trades and/or privately negotiated transactions in compliance
with Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended, subject to market conditions, applicable
legal requirements, and other relevant factors. The Company may also adopt a Rule 10b5-1 share repurchase plan, which would allow the
Company to repurchase shares through pre-determined criteria at times when it otherwise might be prevented from doing so under insider
trading laws or because of self-imposed trading blackout periods.

The
timing, volume and nature of the repurchases will be at the discretion of management based on its evaluation of the capital needs of the
Company, market conditions, applicable legal requirements and other factors. There is no guarantee as to the number of shares that will
be repurchased, if any. Repurchases under the share repurchase program are expected to be funded from existing cash balances and proceeds
from the sale of the Company’s Series A preferred stock under its at-the-market offering program. The repurchase program expires
on March 17, 2026, and may be extended, suspended, modified or discontinued at any time at the Company’s discretion.