Ives Bruce Alan 4

What Happened
Bruce Ives, a non-employee director of Innovative Industrial Properties, Inc. (IIPR), was granted 2,652 restricted shares on June 9, 2026 (transaction coded as an award/acquisition). The filing lists no per-share price or immediate cash value (reported as N/A). This was a compensation award rather than a purchase or sale.

Key Details

• Transaction date: 2026-06-09 (Form 4 filed 2026-06-11).
• Transaction type/code: Award/Grant (A) — 2,652 restricted shares granted.
• Price/value: N/A in the filing (no per-share price or total dollar value disclosed).
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Footnote: Shares are restricted and will be released from forfeiture on June 9, 2027, provided Ives remains a non-employee director or employee on that date.
• Timeliness: Filing occurred two days after the transaction date; no late filing flag noted.

Context
Restricted stock awards are routine compensation for directors and are typically subject to vesting/forfeiture conditions; they do not indicate an immediate purchase or sale of stock. The vesting condition here ties continued service (remaining a director/employee) to release of the shares one year from grant.