IIPR

SEC source: 0000897069-26-001838 · form4.xml · nonDerivative · entry 1

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 40,000

F1 · price: Represents shares purchased by the reporting person in connection with Innovative Industrial Properties, Inc.'s public offering of Series B Preferred Stock at the offering price pursuant to a registration statement on Form S-3 under the Securities Act of 1933, as amended.

SEC source: 0001689305-26-000006 · form4-09172026_090929.xml · nonDerivative · entry 1

Shoemaker Scott · CIK 0001689305 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,000

SEC source: 0002132853-26-000007 · form4-09012026_080914.xml · nonDerivative · entry 1

Ives Bruce Alan · CIK 0002132853 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,180

SEC source: 0001764631-26-000006 · form4-06232026_090653.xml · nonDerivative · entry 1

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 32,801

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028, and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. (the "Company") on such date.

SEC source: 0001689308-26-000008 · form4-06232026_090619.xml · nonDerivative · entry 1

Smithers Paul E. · CIK 0001689308 · Director · PRESIDENT, CEO AND DIRECTOR

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 172,876

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028, and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. (the "Company") on such date.

SEC source: 0001298786-26-000004 · form4-06232026_090638.xml · derivative · entry 4

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 33,960

Underlying: Common Stock · 33,960 shares

Expires not disclosed

F3 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Innovative Industrial Properties, Inc.'s (the "Company") common stock.

F4 · derivative.exercise_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028, and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan.

F4 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028, and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan.

SEC source: 0001689305-26-000004 · form4-06102026_100659.xml · derivative · entry 2

Shoemaker Scott · CIK 0001689305 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,652

Underlying: Common Stock · 2,652 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F2 · derivative.exercise_date: All of the RSUs shall be released from the forfeiture restriction on June 9, 2027, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

F2 · derivative.expiration_date: All of the RSUs shall be released from the forfeiture restriction on June 9, 2027, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

SEC source: 0002069795-26-000002 · form4-06102026_100642.xml · derivative · entry 2

Boyle David Gerard · CIK 0002069795 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,652

Underlying: Common Stock · 2,652 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F2 · derivative.exercise_date: All of the RSUs shall be released from the forfeiture restriction on June 9, 2027, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan"

F2 · derivative.expiration_date: All of the RSUs shall be released from the forfeiture restriction on June 9, 2027, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan"

SEC source: 0002132853-26-000005 · form4-06112026_090606.xml · nonDerivative · entry 1

Ives Bruce Alan · CIK 0002132853 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,652

F1 · price: . Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on June 9, 2027, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. on such date.

SEC source: 0001764631-26-000004 · form4-01222026_120155.xml · nonDerivative · entry 1

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 23,582

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028, and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. (the "Company") on such date.

SEC source: 0001689308-26-000006 · form4-01222026_120104.xml · nonDerivative · entry 1

Smithers Paul E. · CIK 0001689308 · Director · PRESIDENT, CEO AND DIRECTOR

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 150,577

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028, and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. (the "Company") on such date.

SEC source: 0001298786-26-000002 · form4-01222026_120113.xml · derivative · entry 4

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 66,702

Underlying: Common Stock · 66,702 shares

Expires not disclosed

F3 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Innovative Industrial Properties, Inc.'s (the "Company") common stock.

F4 · derivative.exercise_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028, and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan.

F4 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028, and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan.

SEC source: 0001836866-26-000004 · form4-01222026_120109.xml · nonDerivative · entry 1

Bui Andy · CIK 0001836866 · VP, CHIEF ACCOUNTING OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,186

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2027, January 1, 2028 and January 1, 2029, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. on such date.

SEC source: 0001689308-26-000004 · form4-01072026_120121.xml · derivative · entry 3

Smithers Paul E. · CIK 0001689308 · Director · PRESIDENT, CEO AND DIRECTOR

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,653 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Company's common stock.

F3 · derivative.exercise_date: The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan.

F3 · derivative.expiration_date: The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan.

SEC source: 0001689308-26-000004 · form4-01072026_120121.xml · nonDerivative · entry 2

Smithers Paul E. · CIK 0001689308 · Director · PRESIDENT, CEO AND DIRECTOR

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 102,934

F1 · kind: Represents payment of tax liability by the withholding of shares of common stock by Innovative Industrial Properties, Inc. incident to the settlement of the reporting person's restricted stock units.

SEC source: 0001689308-26-000004 · form4-01072026_120121.xml · nonDerivative · entry 1

Smithers Paul E. · CIK 0001689308 · Director · PRESIDENT, CEO AND DIRECTOR

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 108,103

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001689305-26-000002 · form4-02032026_090214.xml · derivative · entry 2

Shoemaker Scott · CIK 0001689305 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 911 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F2 · derivative.exercise_date: The vesting of RSUs is subject to the satisfaction of the vesting conditions under the Company's NQDC Plan.

F2 · derivative.expiration_date: The vesting of RSUs is subject to the satisfaction of the vesting conditions under the Company's NQDC Plan.

SEC source: 0001689305-26-000002 · form4-02032026_090214.xml · nonDerivative · entry 1

Shoemaker Scott · CIK 0001689305 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,611

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001764631-26-000002 · form4-01062026_120125.xml · derivative · entry 3

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,110

Underlying: Common Stock · 4,555 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F3 · derivative.exercise_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027 and January 1, 2028, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of 9,110 of the RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

F3 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027 and January 1, 2028, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of 9,110 of the RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

SEC source: 0001764631-26-000002 · form4-01062026_120125.xml · nonDerivative · entry 2

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,521

F1 · kind: Represents payment of tax liability by the withholding of shares of common stock by Innovative Industrial Properties, Inc. incident to the settlement of the reporting person's restricted stock units.

SEC source: 0001764631-26-000002 · form4-01062026_120125.xml · nonDerivative · entry 1

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,155

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001689308-26-000002 · form4-01062026_120159.xml · nonDerivative · entry 1

Smithers Paul E. · CIK 0001689308 · Director · PRESIDENT, CEO AND DIRECTOR

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 97,450

F1 · kind: Represents payment of tax liability by the forfeiture of shares of common stock to Innovative Industrial Properties, Inc. (the "Company") incident to the vesting of the reporting person's restricted stock.

SEC source: 0001836866-26-000002 · form4-01062026_120153.xml · nonDerivative · entry 1

Bui Andy · CIK 0001836866 · VP, CHIEF ACCOUNTING OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,664

F1 · kind: Represents payment of tax liability by the forfeiture of shares of common stock to the company incident to the vesting of the reporting person's restricted stock.

SEC source: 0001298786-25-000005 · form4-11262025_121136.xml · nonDerivative · entry 1

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: No plan indicated

Ownership: Indirect · By Trust

Disclosed balance after: 2,600

F1 · ownership.nature: SMG Irrevocable Trust for the benefit of the reporting person's adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of SMG Irrevocable Trust.

SEC source: 0001764631-25-000004 · form4-11202025_091130.xml · nonDerivative · entry 1

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 600

SEC source: 0001298786-25-000003 · form4-11202025_091111.xml · nonDerivative · entry 2

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: No plan indicated

Ownership: Indirect · By SLAT

Disclosed balance after: 58,500

F1 · ownership.nature: A Spousal Lifetime Access Trust ("SLAT") for the benefit of the reporting person's spouse and adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of the SLAT.

SEC source: 0001298786-25-000003 · form4-11202025_091111.xml · nonDerivative · entry 1

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: No plan indicated

Ownership: Indirect · By SLAT

Disclosed balance after: 57,500

F1 · ownership.nature: A Spousal Lifetime Access Trust ("SLAT") for the benefit of the reporting person's spouse and adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of the SLAT.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 23

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 63,108.7176

F1 · shares: Shares of common stock acquired with the reinvestment of dividends pursuant to an automatic dividend reinvestment plan entered into with the reporting person's broker.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 22

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 61,269.6394

F1 · shares: Shares of common stock acquired with the reinvestment of dividends pursuant to an automatic dividend reinvestment plan entered into with the reporting person's broker.

SEC source: 0001415889-25-017227 · form4-06132025_080625.xml · derivative · entry 2

Shoemaker Scott · CIK 0001689305 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,796

Underlying: Common Stock · 2,796 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F2 · derivative.exercise_date: All of the RSUs shall be released from the forfeiture restriction on June 11, 2026, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

F2 · derivative.expiration_date: All of the RSUs shall be released from the forfeiture restriction on June 11, 2026, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

SEC source: 0001415889-25-017224 · form4-06132025_080657.xml · nonDerivative · entry 1

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 47,453

F1 · price: Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on June 11, 2026, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. on such date.

SEC source: 0001415889-25-017246 · form4-06132025_090641.xml · nonDerivative · entry 1

Boyle David Gerard · CIK 0002069795 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,951

F1 · price: Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on June 11, 2026, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. on such date.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 21

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 59,487.5019

F1 · shares: Shares of common stock acquired with the reinvestment of dividends pursuant to an automatic dividend reinvestment plan entered into with the reporting person's broker.

SEC source: 0001415889-25-006856 · form4-03052025_020356.xml · nonDerivative · entry 1

Stecher David · CIK 0001689405 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,346

SEC source: 0001415889-25-005377 · form4-02252025_010253.xml · nonDerivative · entry 1

Bui Andy · CIK 0001836866 · VP, CHIEF ACCOUNTING OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,868

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027 and January 1, 2028, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. on such date.

SEC source: 0001415889-25-005391 · form4-02252025_030229.xml · derivative · entry 1

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,665

Underlying: Common Stock · 13,665 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F2 · derivative.exercise_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027 and January 1, 2028, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of 9,110 of the RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

F2 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027 and January 1, 2028, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of 9,110 of the RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

SEC source: 0001415889-25-005421 · form4-02252025_060203.xml · nonDerivative · entry 1

Smithers Paul E. · CIK 0001689308 · Director · PRESIDENT, CEO AND DIRECTOR

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 108,433

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027, and January 1, 2028, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. (the "Company") on such date.

SEC source: 0001415889-25-005389 · form4-02252025_030210.xml · derivative · entry 3

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 45,438

Underlying: Common Stock · 45,438 shares

Expires not disclosed

F2 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Innovative Industrial Properties, Inc.'s (the "Company") common stock.

F3 · derivative.exercise_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027 and January 1, 2028, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

F3 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2026, January 1, 2027 and January 1, 2028, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 20

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 57,755.868

F1 · shares: Shares of common stock acquired with the reinvestment of dividends pursuant to an automatic dividend reinvestment plan entered into with the reporting person's broker.

SEC source: 0001415889-25-000626 · form4-01032025_110112.xml · nonDerivative · entry 1

Wolfe Brian J. · CIK 0001689397 · VP, GEN. COUNSEL AND SECRETARY

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,357

F1 · kind: Represents payment of tax liability by the forfeiture of shares of common stock to Innovative Industrial Properties, Inc. (the "Company") incident to the vesting of the reporting person's restricted stock.

SEC source: 0001415889-25-000628 · form4-01032025_110145.xml · nonDerivative · entry 1

Smithers Paul E. · CIK 0001689308 · Director · PRESIDENT, CEO AND DIRECTOR

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 75,976

F1 · kind: Represents payment of tax liability by the forfeiture of shares of common stock to Innovative Industrial Properties, Inc. (the "Company") incident to the vesting of the reporting person's restricted stock.

SEC source: 0001415889-25-000809 · form4-01062025_100106.xml · nonDerivative · entry 1

Bui Andy · CIK 0001836866 · VP, CHIEF ACCOUNTING OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,083

F1 · kind: Represents payment of tax liability by the forfeiture of shares of common stock to the company incident to the vesting of the reporting person's restricted stock.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 19

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 56,449.2621

F1 · shares: Shares of common stock acquired with the reinvestment of dividends pursuant to an automatic dividend reinvestment plan entered into with the reporting person's broker.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 18

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 55,802.3524

F1 · shares: Shares of common stock acquired with the reinvestment of dividends pursuant to an automatic dividend reinvestment plan entered into with the reporting person's broker.

SEC source: 0001415889-24-013254 · form4-05152024_090516.xml · derivative · entry 2

Curran Mary A · CIK 0001709408 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,416

Underlying: Common Stock · 1,416 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F2 · derivative.exercise_date: All of the RSUs shall be released from the forfeiture restriction on May 15, 2025, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

F2 · derivative.expiration_date: All of the RSUs shall be released from the forfeiture restriction on May 15, 2025, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

SEC source: 0001415889-24-013252 · form4-05152024_090542.xml · derivative · entry 2

Shoemaker Scott · CIK 0001689305 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,416

Underlying: Common Stock · 1,416 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F2 · derivative.exercise_date: All of the RSUs shall be released from the forfeiture restriction on May 15, 2025, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

F2 · derivative.expiration_date: All of the RSUs shall be released from the forfeiture restriction on May 15, 2025, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

SEC source: 0001415889-24-013250 · form4-05152024_090525.xml · nonDerivative · entry 1

Stecher David · CIK 0001689405 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,945

F1 · price: Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on May 15, 2025, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. (the "Company") on such date.

SEC source: 0001415889-24-013258 · form4-05152024_090509.xml · nonDerivative · entry 1

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 43,958

F1 · price: Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on May 15, 2025, provided that the reporting person continues to be a non-employee director or employee of Innovative Industrial Properties, Inc. on such date.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 17

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 55,074.8341

F1 · shares: Shares of common stock acquired with the reinvestment of dividends pursuant to an automatic dividend reinvestment plan entered into with the reporting person's broker.

SEC source: 0001415889-24-001440 · form4-01182024_030137.xml · derivative · entry 1

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,893

Underlying: Common Stock · 10,893 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of Innovative Industrial Properties, Inc. (the "Company") common stock.

F2 · derivative.exercise_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2025, January 1, 2026 and January 1, 2027, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").

F2 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2025, January 1, 2026 and January 1, 2027, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan (the "NQDC Plan").