Company: IIPR
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041241
Chunk: 50

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 50
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 | N/A            | ​ | ​ |    283,500 | ​ | ​ | ​                                                                 | ​ |   567,000 | ​          | ​ | ​ | ​ | ​ |   850,500 | ​           | ​ | ​ | ​ | ​ | — | ​                                                            | ​ |      ​ | ​ | ​ | — | ​                                         | ​ |           |   |   |

(1) Reflects the threshold, target and maximum potential awards under our annual cash incentive plan. The amounts earned are shown in the Summary Compensation Table for 2024. (2) The forfeiture restrictions on the restricted stock and RSUs lapse ratably on each of January 1, 2025, January 1, 2026 and January 1, 2027. Dividends and dividend equivalents (as applicable) are paid on the entirety of the grant from the date of the grant. Gold, Smith and Wolfe elected to defer settlement of the RSUs pursuant to the NQDC Plan. (3) The grant date fair value of the RSUs and restricted stock awards was calculated by multiplying the closing market price of our common stock on the grant date by the number of shares or RSUs awarded, in accordance with ASC Topic 718. The closing market price on January 17, 2024 was $91.81. (4) Mr. Wolfe resigned as an employee and officer of the Company effective as of January 9, 2025. Outstanding Equity Awards at December 31, 2024 The table below provides information about outstanding equity awards for each of our named executive officers as of December 31, 2024.

| ​ 
 ​ | ​             
 Name          | ​ 
 ​ | ​ 
 ​ | Stock Awards                                            
 Number of Shares or Units of StocksThat Have Not Vested |   |           |   | ​ | ​ | Market Value of Shares or Units ofStock That Have Not Vested(1) |   |           |   | ​ 
 ​ |
|:--|:--------------|:--|:--|:--------------------------------------------------------|:--|:----------|:--|:--|:--|:----------------------------------------------------------------|:--|----------:|:--|:--|
| ​ | Alan Gold     | ​ | ​ | ​                                                       | ​ | 64,574(2) | ​ | ​ | ​ | ​                                                               | $ | 4,303,211 | ​ | ​ |
| ​ | Paul Smithers |