4//SEC Filing
Smith David Jon 4
Accession 0001764631-26-000004
CIK 0001677576other
Filed
Jan 20, 7:00 PM ET
Accepted
Jan 21, 7:11 PM ET
Size
10.5 KB
Accession
0001764631-26-000004
Research Summary
AI-generated summary of this filing
IIPR CFO David Jon Smith Receives 20,061 Restricted Shares
What Happened
- David Jon Smith, Chief Financial Officer and Treasurer of Innovative Industrial Properties, Inc. (IIPR), was granted 20,061 restricted shares on 2026-01-20. No purchase price or dollar value is reported (price listed as N/A). This is an award/grant (not a purchase or sale).
Key Details
- Transaction date: 2026-01-20; Form 4 filed 2026-01-21 (filed the next day, which is timely).
- Price: N/A (award of restricted stock).
- Shares granted: 20,061 restricted shares.
- Shares owned after transaction: Not specified in the provided filing data.
- Relevant footnote: F1 — the restricted stock vests one‑third on each of January 1, 2027, 2028 and 2029, provided Smith remains a non‑employee director or employee of the company on those dates.
- Other footnotes (F2–F5) in the filing describe RSU mechanics and vesting schedules for other awards but do not change this restricted‑stock grant.
Context
- Restricted stock awards are subject to forfeiture until vesting and do not indicate an immediate market purchase or sale. This grant vests over three years (2027–2029) contingent on continued service, so the shares are not immediately liquid. Such awards are common compensation and should be viewed as part of long‑term incentive pay rather than a near‑term trading signal.
Insider Transaction Report
Form 4
Smith David Jon
CFO AND TREASURER
Transactions
- Award
Common Stock
[F1]2026-01-20+20,061→ 23,582 total
Holdings
- 13,080
Restricted Stock Units 2023
[F2][F3]→ Common Stock (13,080 underlying) - 10,893
Restricted Stock Units 2024
[F2][F4]→ Common Stock (10,893 underlying) - 9,110
Restricted Stock Units 2025
[F2][F5]→ Common Stock (9,110 underlying)
Footnotes (5)
- [F1]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.
- [F2]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]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 NQDC Plan.
- [F4]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 NQDC Plan.
- [F5]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 NQDC Plan.
Signature
/s/ David Smith|2026-01-21
Documents
Issuer
INNOVATIVE INDUSTRIAL PROPERTIES INC
CIK 0001677576
Entity typeother
Related Parties
1- filerCIK 0001764631
Filing Metadata
- Form type
- 4
- Filed
- Jan 20, 7:00 PM ET
- Accepted
- Jan 21, 7:11 PM ET
- Size
- 10.5 KB