Company: IIPR
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041241
Chunk: 58

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 58
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                  | ​ |      — | ​ | ​ | ​ | ​                                                                   | ​ | 1,307,010 | ​ | ​ | ​ | ​                                                | ​ | — | ​ | ​ | ​ | ​     | ​ |  1,307,010 | ​ | ​ |
| ​ | Disability                                                                    | ​ | ​ | ​                    | ​ |          — | ​ | ​ | ​ | ​                  | ​ |      — | ​ | ​ | ​ | ​                                                                   | ​ | 1,307,010 | ​ | ​ | ​ | ​                                                | ​ | — | ​ | ​ | ​ | ​     | ​ |  1,307,010 | ​ | ​ |

(1) Amount represents the sum of the executive’s annual base salary and his average annual cash incentive during the past three years, multiplied by three, with respect to Mr. Gold and Mr. Smithers, and two, with respect to Mr. Smith. (2) Amount represents the amount needed to pay for health benefits for the executive and his or her eligible family members for 18 months following the executive’s termination of employment at the same level as in effect immediately preceding such termination. (3) For a Qualifying Termination within two years of a “change of control,” Qualifying Retirement, death or disability, amount is equal to each named executive officer’s total unvested restricted stock awards and RSUs on December 31, 2024 multiplied by our common stock closing price on December 31, 2024 of $66.64 per share. For a Qualifying Termination other than within two years of a “change of control,” amount is equal to each named executive officer’s pro rata restricted stock awards and RSUs that would vest on December 31, 2024 multiplied by our common stock closing price on December 31, 2024 of $66.64 per share. (4) At December 31, 2024, the performance thresholds for the vesting of the 2022 PSUs were not met for any of the applicable awards, and the 2022 PSUs were forfeited in their entirety pursuant to the terms of the agreements. Pay versus Performance We are required by SEC rules to disclose the following information regarding compensation paid to our named executive officers (“NEOs”). The amounts set forth below under the headings “Compensation Actually Paid to CEO” and “Average Compensation Actually Paid to Non-CEO NEOs” have been calculated in a manner consistent with