X0508 4 2026-01-02 0001677576 INNOVATIVE INDUSTRIAL PROPERTIES INC IIPR 0001689305 Shoemaker Scott C/O INNOVATIVE INDUSTRIAL PROPERTIES 11440 WEST BERNARDO COURT, SUITE 100 SAN DIEGO CA 92127 true false false false 0 Common Stock 2026-01-02 4 M 0 911 0 A 2611 D Restricted Stock Units 2020 0 2026-01-02 4 M 0 911 0 D Common Stock 911 0 D Restricted Stock Units 2025 0 Common Stock 2796 2796 D Restricted Stock Units 2024 0 Common Stock 1416 1416 D Restricted Stock Units 2023 0 Common Stock 2247 2247 D Restricted Stock Units 2022 0 Common Stock 1249 1249 D Restricted Stock Units 2021 0 Common Stock 883 883 D 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. The vesting of RSUs is subject to the satisfaction of the vesting conditions under the Company's NQDC Plan. All of the RSUs shall be released from the forfeiture restriction on June 11, 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" /s/ Scott Shoemaker 2026-02-03