Company: IIPR
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041241
Chunk: 22

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 22
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 during 2025. (2) Ms. Curran and Mr. Stecher will retire from the Board at the Annual Meeting. If elected, David Boyle, is expected to chair the audit committee and serve on the compensation and the nominating and corporate governance committees. (3) Does not reflect conference calls and other informal meetings of the committee members conducted throughout 2024. Audit Committee In 2024, the audit committee was composed of Messrs. Kreitzer and Stecher and Ms. Curran, each of whom is an independent director for purpose of service on the audit committee and “financially literate” under the rules of the NYSE and SEC. Mr. Stecher serves as chair of the audit committee and qualifies as an “audit committee financial expert” as that term is defined by the SEC. The audit committee assists the Board in overseeing: • our accounting and financial reporting processes; • the integrity and audits of our consolidated financial statements; • our compliance with legal and regulatory requirements; • the qualifications and independence of our independent registered public accounting firm; • the performance of our independent registered public accounting firm and any internal auditors • related party transactions pursuant to the Company’s Related Party Transaction Policy and Procedures; and • the Company’s cybersecurity and data privacy initiatives. The audit committee is also responsible for engaging an independent registered public accounting firm, reviewing with the independent registered public accounting firm the plans and results of the audit engagement, reviewing the appointment of the internal auditor, approving professional services provided by the independent registered public accounting firm and the related audit and non-audit fees. Compensation Committee In 2024, the compensation committee was composed of Messrs. Kreitzer, Shoemaker and Stecher, each of whom is an independent director under the rules of the NYSE and SEC. Mr. Kreitzer serves as chair of the compensation committee, which is responsible for: • evaluating the performance of and compensation of our chief executive officer; • reviewing our compensation philosophy and incentive programs, including to ensure they reflect our risk management philosophies, policies and processes; • reviewing and approving the compensation and benefits of our executive officers and members of our Board; and

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TABLE OF CONTENTS • establishing and administering our Incentive Plan, as well as any other compensation, stock option, stock purchase, incentive or other benefit plans. The compensation committee is primarily responsible for establishing and implementing our compensation program and policies. To fulfill its responsibilities, the compensation committee may engage, oversee and provide appropriate funding for advisors and consultants to advise the committee on executive compensation