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

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 29
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 Equity Group as managing director from September 2016 and vice president from September 2014 to September 2016, leading New Senior’s capital markets and investor relations activities. Prior to Fortress, Mr. Smith served as a managing director, capital markets & investor relations at Aviv REIT, Inc. (NYSE: AVIV) from April 2012 to August 2014. Prior to Aviv REIT, Mr. Smith held various finance, capital markets, and investor relations roles at Ventas (NYSE: VTR) from November 2006 to March 2012. He began his career in the real estate investment banking group at A.G. Edwards. Mr. Smith received a Bachelor of Science degree with honors in Finance from the University of Wisconsin-La Crosse.

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TABLE OF CONTENTS

EXECUTIVE COMPENSATION Compensation Discussion and Analysis This Compensation Discussion and Analysis describes our executive compensation program, including determinations regarding the compensation of our named executive officers for 2024. The following table identifies our named executive officers and their positions in 2024:

| ​ | Name          | ​ | ​ | Position                                                | ​ |
| ​ | Alan Gold     | ​ | ​ | Executive Chairman                                      | ​ |
| ​ | Paul Smithers | ​ | ​ | President and Chief Executive Officer                   | ​ |
| ​ | David Smith   | ​ | ​ | Chief Financial Officer and Treasurer                   | ​ |
| ​ | Brian Wolfe   | ​ | ​ | Former Vice President, General Counsel and Secretary(1) | ​ |

(1) As previously disclosed, Mr. Wolfe resigned as an employee and officer of the Company effective January 9, 2025. 2024 Business Performance Overview Despite the headwinds faced by the regulated cannabis industry specifically in 2024, we focused on executing our long-term and annual strategies that included re-leasing approximately 530,000 square feet or 6% of our total portfolio, bringing our total occupancy to 96.6%. We also focused on further strengthening our liquidity position and strong balance sheet with the upsizing of our credit facility to $87.5 million and continuing our track record of increasing our dividend each year since our inception in 2016. Highlights for 2024 include the following: • Consistent Revenue and Bottom-Line Performance : Although our pace of investment activity slowed significantly in 2024, existing property portfolio performance resulted in total revenues of $308.5 million in 2024, total net income attributable to common stockholders of $159