IIPR (IIPR) CEO Paul Smithers receives 22,299-share equity award
Rhea-AI Filing Summary
Smithers Paul E. reported acquisition or exercise transactions in this Form 4 filing.
Innovative Industrial Properties reported that President and CEO Paul E. Smithers received a grant of 22,299 shares of common stock as equity compensation. Following this award, he holds 172,876 shares of common stock directly.
The filing also shows 6,654 restricted stock units (RSUs) from a 2021 grant, each representing the right to receive one share of common stock upon vesting. One-third of the newly granted restricted shares will be released from forfeiture on each of January 1, 2027, January 1, 2028, and January 1, 2029, if he remains an employee or non-employee director and meets plan vesting conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 22,299 shares
Net Buy
2 txns
Insider
Smithers Paul E.
Role
PRESIDENT, CEO AND DIRECTOR
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 22,299 | $0.00 | $0.00 |
| holding | Restricted Stock Units 2021 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 172,876 shares (Direct);
Restricted Stock Units 2021 — 6,654 shares (Direct)
Footnotes (3)
- 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 the Company's common stock.
- F3. The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan.
Key Figures
Restricted stock grant: 22,299 shares
Common stock held after grant: 172,876 shares
2021 RSU underlying shares: 6,654 shares
+4 more
7 metrics
Restricted stock grant
22,299 shares
Common stock award to CEO on June 19, 2026
Common stock held after grant
172,876 shares
CEO direct holdings following the transaction
2021 RSU underlying shares
6,654 shares
Restricted Stock Units 2021 tied to common stock
RSU exercise price
$0.0000 per unit
Restricted Stock Units 2021 exercise price
Vesting date tranche 1
January 1, 2027
One-third of new restricted shares released from forfeiture
Vesting date tranche 2
January 1, 2028
Second third of new restricted shares vesting
Vesting date tranche 3
January 1, 2029
Final third of new restricted shares vesting
Key Terms
Restricted Stock Units, restricted stock, forfeiture restriction, Nonqualified Deferred Compensation Plan, +1 more
5 terms
Restricted Stock Units financial
"Restricted Stock Units 2021, each representing the right to receive common stock upon vesting"
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.
restricted stock financial
"Represents grant of restricted stock. One-third of the shares shall be released from the forfeiture restriction"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
forfeiture restriction financial
"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"
Nonqualified Deferred Compensation Plan financial
"The vesting of RSUs is subject to 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.
contingent right financial
"Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did IIPR CEO Paul E. Smithers receive in this Form 4 filing?
Paul E. Smithers received a grant of 22,299 shares of Innovative Industrial Properties common stock as equity compensation, increasing his direct holdings to 172,876 shares after the grant, according to the Form 4 insider transaction report.
What are the vesting terms for Paul Smithers’ new IIPR restricted stock grant?
The 22,299-share restricted stock grant vests in three equal installments. One-third of the shares will be released from forfeiture on January 1, 2027, January 1, 2028, and January 1, 2029, if he continues as an employee or non-employee director.
What do the 2021 Restricted Stock Units (RSUs) for IIPR’s CEO represent?
The 2021 RSUs represent the right to receive IIPR common shares upon vesting. The filing lists 6,654 underlying shares, with each RSU convertible into one share, subject to vesting conditions under the company’s Nonqualified Deferred Compensation Plan.
Is the CEO’s equity grant in IIPR a market purchase or compensation award?
The 22,299 shares of Innovative Industrial Properties common stock are a grant or award, not a market purchase. The Form 4 uses transaction code “A,” indicating a compensation-related acquisition of shares rather than an open-market buy.