Form Type: 4

SEC EDGAR Link
Accession Number:0001638599-21-000694
Date:2021-09-01
Issuer: INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR)
Original Submission Date:

Reporting Person:

SMITHERS PAUL E.
C/O INNOVATIVE INDUSTRIAL PROPERTIES
11440 WEST BERNARDO COURT, SUITE 100 SAN DIEGO, CA 92127

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2021-09-01 S 3,954 d $249.00 27,786 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
RESTRICTED STOCK UNITS 2020 0.0 deemed execution date 0 ( ) common stock 10,653 $0.00 10,653 direct
RESTRICTED STOCK UNITS 2021 0.0 deemed execution date 0 ( ) common stock 6,654 $0.00 6,654 direct
PERFORMANCE SHARE UNITS 2021 0.0 deemed execution date 0 ( ) common stock 21,238 $0.00 21,238 direct
Footnotes
IDfootnote
f1 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 one-third of the rsus shall be released from the forfeiture restriction on each of january 1, 2021, january 1, 2022 and january 1, 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").
f3 one-third of the rsus shall be released from the forfeiture restriction on each of january 1, 2022, january 1, 2023 and january 1, 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 nqdc plan.
f4 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 shareholder return over the performance period beginning january 11, 2021 and ending on december 31, 2023, and certification of such performance by the compensation committee of the board of directors of the company following the conclusion of the performance period.

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