Innovative Industrial director awarded 2,652 RSUs
Shoemaker Scott reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Shoemaker Scott reported acquisition or exercise transactions in this Form 4 filing.
Innovative Industrial Properties director Scott Shoemaker received a new equity grant in the form of restricted stock units. On June 9, 2026, he was awarded 2,652 Restricted Stock Units 2026, each representing the right to receive one share of common stock upon vesting.
All of these RSUs are subject to forfeiture restrictions and vesting conditions under the company’s Nonqualified Deferred Compensation Plan, with release from forfeiture scheduled for June 9, 2027 if he remains a director or employee. The filing also shows existing direct holdings of 2,611 common shares and several earlier RSU awards, such as 2,796 underlying shares from the 2025 RSU grant.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 2,652 shares
Grant/Award
7 txns
Insider
Shoemaker Scott
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units 2026 | 2,652 | $0.00 | $0.00 |
| holding | Restricted Stock Units 2025 | -- | -- | -- |
| holding | Restricted Stock Units 2024 | -- | -- | -- |
| holding | Restricted Stock Units 2023 | -- | -- | -- |
| holding | Restricted Stock Units 2022 | -- | -- | -- |
| holding | Restricted Stock Units 2021 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units 2026 — 2,652 contracts (Direct);
Restricted Stock Units 2025 — 2,796 contracts (Direct);
Restricted Stock Units 2024 — 1,416 contracts (Direct);
Restricted Stock Units 2023 — 2,247 contracts (Direct);
Restricted Stock Units 2022 — 1,249 contracts (Direct);
Restricted Stock Units 2021 — 883 contracts (Direct);
Common Stock — 2,611 shares (Direct)
Footnotes (3)
- 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. All of the RSUs shall be released from the forfeiture restriction on June 9, 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 Nonqualified Deferred Compensation Plan (the "NQDC Plan").
- F3. The vesting of RSUs is subject to the satisfaction of the vesting conditions under the Company's NQDC Plan.
Key Figures
New RSU grant 2026: 2,652 units
Common stock holding: 2,611 shares
RSU 2021 underlying shares: 883 shares
+5 more
8 metrics
New RSU grant 2026
2,652 units
Restricted Stock Units 2026 awarded on June 9, 2026
Common stock holding
2,611 shares
Direct common shares following reported transactions
RSU 2021 underlying shares
883 shares
Restricted Stock Units 2021 tied to common stock
RSU 2022 underlying shares
1,249 shares
Restricted Stock Units 2022 tied to common stock
RSU 2023 underlying shares
2,247 shares
Restricted Stock Units 2023 tied to common stock
RSU 2024 underlying shares
1,416 shares
Restricted Stock Units 2024 tied to common stock
RSU 2025 underlying shares
2,796 shares
Restricted Stock Units 2025 tied to common stock
RSU vesting date
June 9, 2027
Release from forfeiture restriction for new RSU grant
Key Terms
Restricted Stock Units, contingent right, forfeiture restriction, vesting conditions, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share..."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
contingent right financial
"Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share..."
forfeiture restriction financial
"All of the RSUs shall be released from the forfeiture restriction on June 9, 2027..."
vesting conditions financial
"The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan..."
Vesting conditions are the rules that determine when someone earning company stock or stock options actually gains the right to keep or sell them, typically based on staying with the company for a set time or meeting performance targets. Think of it like keys that unlock gradually — some unlock by calendar date, others only after agreed milestones. Investors care because vesting shapes management incentives, the timing of share sales, and the number of shares that can enter the market, which can affect a company's valuation and ownership mix.
Nonqualified Deferred Compensation Plan financial
"The vesting of RSUs is subject to the satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan..."
A nonqualified deferred compensation plan is an arrangement where an employer lets select employees postpone receiving part of their pay or bonuses until a future date, often at retirement, so taxes are paid later. It matters to investors because these payouts are typically unsecured promises by the company—like an internal IOU—so they create future cash obligations and expose the company to extra liability risk if the business falters, and they also reveal how executives are being paid and motivated.
FAQ
What did Scott Shoemaker report in the latest Form 4 for IIPR?
Scott Shoemaker reported receiving 2,652 Restricted Stock Units 2026, each tied to one share of Innovative Industrial Properties common stock. These RSUs are compensation-related and subject to vesting and forfeiture conditions under the company’s Nonqualified Deferred Compensation Plan.
When do Scott Shoemaker’s new IIPR RSUs vest?
The new RSUs are scheduled to be released from forfeiture restrictions on June 9, 2027, if Shoemaker remains a non-employee director or employee. Vesting also depends on satisfaction of conditions under Innovative Industrial Properties’ Nonqualified Deferred Compensation Plan.
What other RSU awards does Scott Shoemaker have at IIPR?
Shoemaker has several earlier RSU grants, including awards labeled 2021, 2022, 2023, 2024 and 2025. For example, the 2025 RSU grant is tied to 2,796 underlying common shares, all subject to vesting conditions under the company’s Nonqualified Deferred Compensation Plan.
Are Scott Shoemaker’s new RSUs at IIPR an open-market stock purchase?
No, the 2,652 Restricted Stock Units 2026 are a grant or award, not an open-market stock purchase. They represent a compensation-related equity award that may convert into common shares only if specified vesting and forfeiture conditions are satisfied.
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