Company: IIPR
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041241
Chunk: 64

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 64
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TABLE OF CONTENTS stockholders through grants of restricted stock and RSU awards, thereby giving employees additional incentives to protect and align with long-term value creation. All Other Employees. Other officer and non-officer employee compensation awards are unlikely to encourage the taking of unnecessary or excessive risks that could threaten long-term value creation. Management monitors the cash and equity incentive awards made to our employees and reviews those awards in light of the potential risks relative to the control environment, each respective employee’s responsibilities, and the general policies and procedures of our Company. Key employees also receive grants of restricted stock and RSU awards. Based on its evaluation, the compensation committee does not believe that the compensation programs give rise to any risks that are reasonably likely to have a material adverse effect on our Company. 42

TABLE OF CONTENTS

EQUITY COMPENSATION PLAN INFORMATION The following table gives information about shares of our common stock that may be issued under our Incentive Plan as of December 31, 2024.**

| ​ | Plan Category                                          | ​ | ​ | Number of Securitiesto be IssuedUpon Exercise ofOutstanding Options,Warrants and Rights | ​ | ​ | Weighted AverageExercise Price ofOutstandingOptions,Warrants andRights | ​ | ​ | Number of SecuritiesRemaining Availablefor Future IssuanceUnder EquityCompensation Plans(ExcludingSecurities Reflectedin First Column) | ​ |
| ​ | Equity compensation plans approved by stockholders﻿(1) | ​ | ​ |                                                                                 222,502 | ​ | ​ | —                                                                      | ​ | ​ |                                                                                                                                680,156 | ​ |
| ​ | Equity compensation plans not approved by stockholders | ​ | ​ |                                                                                       — | ​ | ​ | —                                                                      | ​ | ​ |                                                                                                                                      — | ​ |
| ​ | Total                                                  | ​ | ​ |                                                                                 222,502 | ​ | ​ | —                                                                      | ​ | ​ |                                                                                                                                680,156 | ​ |

(1) Our Incentive Plan was approved by our stockholders prior to the completion of our initial public offering. Securities to be issued upon exercise of outstanding options, warrants and rights consist of 222,502 shares of common stock issuable upon vesting of 222,502 RSUs which were outstanding as of December 31, 2024. The RSUs do not have an exercise price.

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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets