Company: IIPR
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023920
Chunk: 1

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 3
Chunk 1
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 government has signaled its intent to shift its approach to international trade policy, including the potential renegotiation or termination of certain bilateral or multilateral trade agreements with foreign nations. This has led to proposals and actions aimed at imposing higher tariffs on foreign goods imported into the U.S., such as steel and aluminum from countries like China, Canada, and Mexico. In retaliation, some foreign governments, including China, have 

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introduced counter-tariffs on U.S. goods. Additional government actions, such as the imposition of further tariffs, trade barriers, or changes to international trade policies, could lead to higher costs, reduced profit margins, and diminished competitiveness for products offered by our current and future tenants, particularly those reliant on imports from affected countries. Such changes or uncertainties could also increase costs and reduce margins for our development or expansion projects. These factors may slow economic activity and materially harm the businesses of our tenants, as well as on our business, financial conditions and results of operations.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the three months ended March 31, 2025, we did not sell any equity securities that were not registered under the Securities Act of 1933.

Issuer Purchases of Equity Securities

The following table provides information with respect to the number of shares of common stock repurchased by us for the periods indicated (in thousands, except share and per share amounts):

PeriodTotal Number ofShares of CommonStock Purchased(1)Weighted Average Price Paidper Common Share(2)Purchased as Part ofPublicly AnnouncedPlans or Programs(3)Maximum Number (or dollar value) of Shares that May Yetbe Purchased Under thePlans or ProgramsJanuary 1, 2025 - January 31, 202511,883$67.80 —$— February 1, 2025 - February 28, 2025—— —— March 1, 2025 - March 31, 20254,58663.00 4,58699.7 Total16,469$66.46 4,586$99.7 

(1)Includes 11,883 shares withheld by us from employees to satisfy employee tax obligations upon vesting of restricted stock granted to our employees under the Company's equity incentive plans.

(2)The value of the common stock withheld to satisfy employee tax was based on the closing price of our common stock on the applicable vest