Gold Alan D 4

What Happened

• Alan D. Gold, Executive Chairman and Director of Innovative Industrial Properties, received a grant of 33,960 restricted stock units (RSUs) reported as a derivative acquisition on 2026-06-19. The reported price is $0.00, so no cash was paid; the award is recorded as $0 value at grant.
• Each RSU represents the right to receive one share of IIPR common stock upon vesting (see footnote F3). The vesting and release schedule is governed by the company’s nonqualified deferred compensation plan and related terms in the filing (see Footnotes F4–F7).

Key Details

• Transaction date and type: 2026-06-19 — Award/Grant of 33,960 RSUs (code A); reported price $0.00.
• Filing date: 2026-06-23 — filed two business days after the transaction (timely under Form 4 rules).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes of note:
  • F3: RSUs convert to one share each upon vesting.
  • F4–F7/F5: Vesting is subject to the company’s Nonqualified Deferred Compensation (NQDC) Plan; several footnotes describe staggered one‑third release schedules on specified January 1 dates for different grants.
  • F1–F2: References to trusts (SLAT and SMG Irrevocable Trust) controlled by the reporting person and spouse for beneficiaries (spouse/adult child).
• Transaction type implication: This is an equity compensation award (not an open‑market purchase or sale).

Context

• RSU grants are a common form of executive/director compensation and indicate future potential share issuance on vesting rather than an immediate market purchase. They do not by themselves signal a buy or sell decision by the insider.
• Vesting schedules and trust arrangements in the footnotes indicate the timing and potential ultimate ownership of the underlying shares; consult the company’s proxy/NQDC plan for exact vesting conditions.