Innovative Industrial director sells 611 shares
IIPR director Scott Shoemaker sold a small block of shares while retaining common stock and several tranches of restricted stock units.
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) director Scott Shoemaker reported selling 611 shares of common stock on September 15, 2026 at $56.36 per share, leaving 2,000 common shares held directly. He also reports multiple series of restricted stock units, each representing the right to receive one share of common stock upon vesting under the company’s Nonqualified Deferred Compensation Plan.
Insider Trade Summary
Net Seller: 611 shares
Net Sell
1 txn
Insider
Shoemaker Scott
Role
Director
Sold
611 shs ($34K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 611 | $56.36 | $34K |
| Holding | Restricted Stock Units 2026 F1, F2 | -- | -- | -- |
| Holding | Restricted Stock Units 2025 F1, F3 | -- | -- | -- |
| Holding | Restricted Stock Units 2024 F1, F3 | -- | -- | -- |
| Holding | Restricted Stock Units 2023 F1, F3 | -- | -- | -- |
| Holding | Restricted Stock Units 2022 F1, F3 | -- | -- | -- |
| Holding | Restricted Stock Units 2021 F1, F3 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 2,000 shares (Direct);
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)
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
Shares sold: 611 shares
Sale price per share: $56.36 per share
Common shares held after sale: 2,000 shares
+5 more
8 metrics
Shares sold
611 shares
Common stock sale on September 15, 2026
Sale price per share
$56.36 per share
Common stock sale on September 15, 2026
Common shares held after sale
2,000 shares
Direct ownership after September 15, 2026 transaction
RSUs 2026 underlying shares
2,652 shares
Restricted Stock Units 2026 tied to common stock
RSUs 2025 underlying shares
2,796 shares
Restricted Stock Units 2025 tied to common stock
RSUs 2024 underlying shares
1,416 shares
Restricted Stock Units 2024 tied to common stock
RSUs 2023 underlying shares
2,247 shares
Restricted Stock Units 2023 tied to common stock
RSUs 2022 and 2021 underlying shares
1,249 and 883 shares
Restricted Stock Units 2022 and 2021 tied to common stock
Key Terms
Restricted Stock Units, Nonqualified Deferred Compensation Plan, forfeiture restriction, vesting conditions
4 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents the contingent right to receive"
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.
Nonqualified Deferred Compensation Plan financial
"under the Company's Nonqualified Deferred Compensation Plan (the "NQDC 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.
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"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did IIPR director Scott Shoemaker report on this Form 4?
He reported a sale of 611 shares of INNOVATIVE INDUSTRIAL PROPERTIES INC common stock on September 15, 2026, in a transaction classified as a sale in the open market or a private transaction.
What restricted stock unit (RSU) holdings for IIPR does Scott Shoemaker report?
He reports RSUs tied to IIPR common stock: 2,652 (2026), 2,796 (2025), 1,416 (2024), 2,247 (2023), 1,249 (2022), and 883 (2021), each representing the right to receive one share upon vesting.
When do Scott Shoemaker’s 2026 IIPR RSUs vest and what conditions apply?
All 2026 RSUs are scheduled to be released from forfeiture on June 9, 2027, provided he remains a non-employee director or employee on that date and the vesting conditions under the company’s Nonqualified Deferred Compensation Plan are satisfied.
Were Scott Shoemaker’s IIPR transactions made under a Rule 10b5-1 trading plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not checked, and there is no footnote stating that the September 15, 2026 sale was made pursuant to a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
