Innovative Industrial Properties insider reports stock buy and RSU awards
Rhea-AI Filing Summary
Innovative Industrial Properties (IIPR) disclosed that Executive Chairman and director Alan D. Gold reported a purchase of common stock. On 11/24/2025, a trust for the benefit of his adult child bought 2,600 IIPR common shares at $49.09 per share, and now holds 2,600 shares indirectly. Following this transaction, Gold reports 213,308 shares held directly and 58,500 shares held indirectly through a spousal lifetime access trust.
Gold also reports several grants of restricted stock units (RSUs) with a $0 exercise price. These RSUs cover different award years and each unit represents the right to receive one IIPR common share upon vesting. The awards generally vest in one‑third increments on specified January 1 dates from 2023 through 2028, provided Gold remains a non‑employee director or employee and the vesting conditions under the company’s Nonqualified Deferred Compensation Plan are satisfied.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 2,600 | $49.09 | $128K |
| holding | Restricted Stock Units 2022 | -- | -- | -- |
| holding | Restricted Stock Units 2023 | -- | -- | -- |
| holding | Restricted Stock Units 2024 | -- | -- | -- |
| holding | Restricted Stock Units 2025 | -- | -- | -- |
| holding | Restricted Stock Units 2021 | -- | -- | -- |
| holding | Restricted Stock Units 2020 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- SMG Irrevocable Trust for the benefit of the reporting person's adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of SMG Irrevocable Trust. A Spousal Lifetime Access Trust ("SLAT") for the benefit of the reporting person's spouse and adult child. The reporting person and the reporting person's spouse control the entity that serves as trustee of the SLAT. Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting of the RSU, one share of the Innovative Industrial Properties, Inc.'s (the "Company") common stock. One-third of the RSUs shall be released from the forfeiture restriction on each of January 1, 2023, January 1, 2024 and January 1, 2025, 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. 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. 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. 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 Nonqualified Deferred Compensation Plan (the "NQDC Plan"). The vesting of RSUs is subject to satisfaction of the vesting conditions under the Company's NQDC Plan.
FAQ
What insider transaction in IIPR stock is reported on this Form 4?
The filing reports that Executive Chairman Alan D. Gold had a trust purchase 2,600 shares of Innovative Industrial Properties (IIPR) common stock on 11/24/2025 at a price of $49.09 per share.
What is the SMG Irrevocable Trust mentioned in the IIPR Form 4?
The SMG Irrevocable Trust is for the benefit of Alan D. Gold’s adult child. Gold and his spouse control the entity that serves as trustee of this trust, which now holds 2,600 IIPR shares.
What is the SLAT referenced in Alan D. Gold’s IIPR holdings?
The Spousal Lifetime Access Trust (SLAT) is for the benefit of Gold’s spouse and adult child. Gold and his spouse control the trustee entity, and this SLAT holds 58,500 IIPR common shares indirectly for him.
What restricted stock units (RSUs) in IIPR does Alan D. Gold report?
Gold reports multiple restricted stock unit (RSU) awards from years including 2020, 2021, 2022, 2023, 2024 and 2025, each with an exercise price of $0. Each RSU gives the right to receive one share of IIPR common stock upon vesting, subject to plan conditions.
How do Alan D. Gold’s IIPR RSUs vest over time?
The RSUs generally vest in one‑third installments on January 1 in successive years. For example, one award vests in thirds on January 1 of 2023, 2024 and 2025, while later awards vest on January 1 dates extending through 2028, as long as he remains a non‑employee director or employee and vesting conditions under the company’s Nonqualified Deferred Compensation Plan are met.