IIPR

SEC source: 0001415889-24-001442 · form4-01182024_030141.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: 82,779

F1 · price: Represents grant of restricted stock. One-third of the shares 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 Innovative Industrial Properties, Inc. (the "Company") on such date.

SEC source: 0001415889-24-001437 · form4-01182024_030124.xml · derivative · entry 2

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 9,804

Underlying: Common Stock · 9,804 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 the Innovative Industrial Properties, Inc.'s (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").

SEC source: 0001415889-24-001445 · form4-01182024_030110.xml · derivative · entry 3

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 38,124

Underlying: Common Stock · 38,124 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, 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").

F3 · 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").

SEC source: 0001415889-24-001435 · form4-01182024_030120.xml · nonDerivative · entry 1

Bui Andy · CIK 0001836866 · VP, CHIEF ACCOUNTING OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,755

F1 · price: Represents grant of restricted stock. One-third of the shares 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 Innovative Industrial Properties, Inc. on such date.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 16

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 54,291.9004

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: 0001415889-24-000311 · form4-01032024_090113.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: 55,548

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: 0001415889-24-000308 · form4-01032024_090145.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: 8,928

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: 0001415889-24-000290 · form4-01032024_090157.xml · nonDerivative · entry 1

Bui Andy · CIK 0001836866 · VP, CHIEF ACCOUNTING OFFICER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,574

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: 0001415889-23-015160 · form4-11152023_101148.xml · nonDerivative · entry 1

Stecher David · CIK 0001689405 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,529

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 15

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 53,489.9204

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 14

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 52,742.4557

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: 0001415889-23-009400 · form4-06072023_110652.xml · derivative · entry 2

Curran Mary A · CIK 0001709408 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,247

Underlying: Common Stock · 2,247 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 7, 2024, 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 7, 2024, 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: 0001415889-23-009398 · form4-06072023_110634.xml · derivative · entry 2

Shoemaker Scott · CIK 0001689305 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,247

Underlying: Common Stock · 2,247 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 7, 2024, 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 7, 2024, 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: 0001415889-23-009396 · form4-06072023_100629.xml · nonDerivative · entry 1

Stecher David · CIK 0001689405 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,029

F1 · price: Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on June 7, 2024, 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: 0001415889-23-009394 · form4-06072023_100657.xml · nonDerivative · entry 1

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 42,188

F1 · price: Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on June 7, 2024, 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 13

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 52,003.0952

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: 0001415889-23-001428 · form5-01252023_040104.xml · nonDerivative · entry 2

Curran Mary A · CIK 0001709408 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By the Mary Allis Curran Trust

Disclosed balance after: 2,429.356

F1 · kind: Shares were acquired pursuant to a broker-sponsored dividend reinvestment plan.

F2 · balance_after: Amount reported includes shares previously transferred by the reporting person into the Mary Allis Curran Trust.

SEC source: 0001415889-23-005570 · form4-03292023_090354.xml · derivative · entry 1

Smith David Jon · CIK 0001764631 · CFO AND TREASURER

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,080

Underlying: Common Stock · 13,080 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, 2024, January 1, 2025 and January 1, 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.

F2 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2024, January 1, 2025 and January 1, 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.

SEC source: 0001415889-23-001271 · form4-01202023_040107.xml · derivative · entry 2

HASTINGS CATHERINE · CIK 0001693165 · CFO AND TREASURER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,021

Underlying: Common Stock · 9,021 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.'s (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, 2024, January 1, 2025 and January 1, 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: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2024, January 1, 2025 and January 1, 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: 0001415889-23-001270 · form4-01202023_040102.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 59,146

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2024, January 1, 2025 and January 1, 2026, 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: 0001415889-23-001269 · form4-01202023_040101.xml · derivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,118

Underlying: Common Stock · 8,118 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 the Innovative Industrial Properties, Inc.'s (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, 2024, January 1, 2025 and January 1, 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.

F2 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2024, January 1, 2025 and January 1, 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.

SEC source: 0001415889-23-001272 · form4-01202023_040101.xml · derivative · entry 3

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,566

Underlying: Common Stock · 31,566 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, 2024, January 1, 2025 and January 1, 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").

F3 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2024, January 1, 2025 and January 1, 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: 0001415889-23-001268 · form4-01202023_040101.xml · nonDerivative · entry 1

Bui Andy · CIK 0001836866 · VP, CHIEF ACCOUNTING OFFICER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,091

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2024, January 1, 2025 and January 1, 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 12

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 51,231.5661

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: 0001415889-23-001428 · form5-01252023_040104.xml · nonDerivative · entry 1

Curran Mary A · CIK 0001709408 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By the Mary Allis Curran Trust

Disclosed balance after: 2,406.94

F1 · kind: Shares were acquired pursuant to a broker-sponsored dividend reinvestment plan.

F2 · balance_after: Amount reported includes shares previously transferred by the reporting person into the Mary Allis Curran Trust.

SEC source: 0001415889-23-000168 · form4-01042023_010139.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,598

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: 0001415889-23-000166 · form4-01042023_010112.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,813

F1 · acquired: 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: 0001415889-23-000164 · form4-01042023_010155.xml · nonDerivative · entry 1

Bui Andy · CIK 0001836866 · VP, CHIEF ACCOUNTING OFFICER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,285

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

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 11

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 50,746.8084

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: 0001415889-22-008547 · form4-08122022_010837.xml · nonDerivative · entry 1

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 213,308

F1 · price: Reflects multiple purchase transactions at share prices ranging from $97.74 to $97.87. Upon request by the Securities and Exchange Commission staff, Innovative Industrial Properties, Inc. or a security holder of Innovative Industrial Properties, Inc., full information shall be provided regarding the number of shares purchased at each price.

SEC source: 0001415889-22-008482 · form4-08112022_110848.xml · nonDerivative · entry 1

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 212,308

F1 · price: Reflects multiple purchase transactions at share prices ranging from $93.8499 to $94.5899. Upon request by the Securities and Exchange Commission staff, Innovative Industrial Properties, Inc. or a security holder of Innovative Industrial Properties, Inc., full information shall be provided regarding the number of shares purchased at each price.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 10

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 50,179.7847

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: 0001415889-22-005461 · form4-05232022_060517.xml · derivative · entry 2

Curran Mary A · CIK 0001709408 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,249

Underlying: Common Stock · 1,249 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 18, 2023, 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 18, 2023, 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: 0001415889-22-005460 · form4-05232022_060513.xml · derivative · entry 2

Shoemaker Scott · CIK 0001689305 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,249

Underlying: Common Stock · 1,249 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 18, 2023, 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 18, 2023, 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: 0001415889-22-005459 · form4-05232022_060508.xml · nonDerivative · entry 1

Stecher David · CIK 0001689405 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,782

F1 · price: Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on May 18, 2023, 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: 0001415889-22-005458 · form4-05232022_060501.xml · nonDerivative · entry 1

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 39,380

F1 · price: Represents grant of restricted stock. All of the shares shall be released from the forfeiture restriction on May 18, 2023, 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 9

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 49,666.6417

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: 0001415889-22-002994 · form4-03152022_040343.xml · nonDerivative · entry 1

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,000

F1 · price: Reflects multiple sales transactions at share prices ranging from $30.00 to $31.28. Upon request by the Securities and Exchange Commission staff, Innovative Industrial Properties, Inc. or a security holder of Innovative Industrial Properties, Inc., full information shall be provided regarding the number of shares sold at each price.

SEC source: 0001415889-22-002933 · form4-03142022_010354.xml · nonDerivative · entry 3

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,196

F3 · price: Reflects multiple sales transactions at share prices ranging from $31.00 to $31.48. Upon request by the Securities and Exchange Commission staff, Innovative Industrial Properties, Inc. or a security holder of Innovative Industrial Properties, Inc., full information shall be provided regarding the number of shares sold at each price.

SEC source: 0001415889-22-002933 · form4-03142022_010354.xml · nonDerivative · entry 2

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,300

F2 · price: Reflects multiple sales transactions at share prices ranging from $31.90 to $32.10. Upon request by the Securities and Exchange Commission staff, Innovative Industrial Properties, Inc. or a security holder of Innovative Industrial Properties, Inc., full information shall be provided regarding the number of shares sold at each price.

SEC source: 0001415889-22-002933 · form4-03142022_010354.xml · nonDerivative · entry 1

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,800

F1 · price: Reflects multiple sales transactions at share prices ranging from $31.05 to $32.10. Upon request by the Securities and Exchange Commission staff, Innovative Industrial Properties, Inc. or a security holder of Innovative Industrial Properties, Inc., full information shall be provided regarding the number of shares sold at each price.

SEC source: 0001298785-25-000003 · form4-12302025_091232.xml · nonDerivative · entry 8

Kreitzer Gary A · CIK 0001298785 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 49,369.3495

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: 0001415889-22-000499 · form4-01122022_120133.xml · derivative · entry 3

HASTINGS CATHERINE · CIK 0001693165 · CFO AND TREASURER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,635

Underlying: Common Stock · 4,635 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 Company's common stock.

F3 · derivative.exercise_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2023, January 1, 2024 and January 1, 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").

F3 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2023, January 1, 2024 and January 1, 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: 0001415889-22-000499 · form4-01122022_120133.xml · derivative · entry 2

HASTINGS CATHERINE · CIK 0001693165 · CFO AND TREASURER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,317

Underlying: Common Stock · 12,317 shares

Expires not disclosed

F1 · derivative.exercise_date: Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of Innovative Industrial Properties, Inc. (the "Company") following the conclusion of the performance period.

F1 · derivative.expiration_date: Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of Innovative Industrial Properties, Inc. (the "Company") following the conclusion of the performance period.

SEC source: 0001415889-22-000501 · form4-01122022_120132.xml · derivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,792

Underlying: Common Stock · 30,792 shares

Expires not disclosed

F2 · derivative.exercise_date: Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of the Company following the conclusion of the performance period.

F2 · derivative.expiration_date: Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of the Company following the conclusion of the performance period.

SEC source: 0001415889-22-000501 · form4-01122022_120132.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,026

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2023, January 1, 2024 and January 1, 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: 0001415889-22-000497 · form4-01122022_120111.xml · derivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,264

Underlying: Common Stock · 10,264 shares

Expires not disclosed

F2 · derivative.exercise_date: Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of the Company following the conclusion of the performance period.

F2 · derivative.expiration_date: Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of the Company following the conclusion of the performance period.

SEC source: 0001415889-22-000497 · form4-01122022_120111.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,449

F1 · price: Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction on each of January 1, 2023, January 1, 2024 and January 1, 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: 0001415889-22-000503 · form4-01122022_120152.xml · derivative · entry 4

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 46,188

Underlying: Common Stock · 46,188 shares

Expires not disclosed

F4 · derivative.exercise_date: Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of the Company following the conclusion of the performance period.

F4 · derivative.expiration_date: Each performance share unit represents the right to receive, following vesting, between 0% and 150% of one share of common stock based upon the achievement of pre-established performance metrics related to relative total stockholder return over the performance period beginning January 11, 2022 and ending on December 31, 2024, and certification of such performance by the Compensation Committee of the Board of Directors of the Company following the conclusion of the performance period.

SEC source: 0001415889-22-000503 · form4-01122022_120152.xml · derivative · entry 3

Gold Alan D · CIK 0001298786 · Director · EXECUTIVE CHAIRMAN

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,218

Underlying: Common Stock · 16,218 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, 2023, January 1, 2024 and January 1, 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").

F3 · derivative.expiration_date: One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2023, January 1, 2024 and January 1, 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").