Company: IIPR
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001677576-25-000005
Chunk: 33

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part II, Item 2
Chunk 33
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ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the nine months ended September 30, 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 ProgramsJuly 1, 2025 - July 31, 20252,901$55.75 ——August 1, 2025 - August 31, 2025—— ——September 1, 2025 - September 30, 2025—— ——Total2,901$55.75 —$79,904 

(1)Includes 2,901 shares withheld by us from an employee to satisfy employee tax obligations upon vesting and conversion of RSUs granted to the employee 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 distribution date. 

(3)The Company’s common stock repurchases are made pursuant to the Company’s stock repurchase plan, which was authorized by the board of directors in March 2025, to repurchase up to $100.0 million of the Company’s common stock. The timing, volume and nature of the repurchases will be at the discretion of management based on its evaluation of the capital needs of the Company, market conditions, applicable legal requirements and other factors. There is no guarantee as to the number of shares that will be repurchased. Repurchases under the share repurchase plan are expected to be funded from existing cash balances and proceeds from the sale of the Company’s Series A Preferred Stock under its at-the-market offering program. During the three months ended September 30, 2025, no shares were repurchased under the share repurchase plan. The repurchase plan expires on March 17, 2026, and may be extended, suspended, modified or discontinued at any time at the Company’s discretion. 

ITEM 3.