GOLD ALAN D (Executive Chairman) purchased 3.5% of their position (2K shares) of INNOVATIVE INDUSTRIAL PROPERTIES INC on the open market

Open‑market purchase worth $92.0K — a small addition. The strongest form of insider conviction signal.

P · 2 purchases

GOLD ALAN D

Filed: 11/20/2025ACC: 0001298786-25-000003

InsiderGOLD ALAN DCIK 1298786

→

IssuerINNOVATIVE INDUSTRIAL PROPERTIES INCCIK 1677576

DirectorOfficer· Executive Chairman

Since Oct 2018

+2K

Net shares

Net buyer

$92.0K

Total acquired

Open market trades

2B · 0S

Total transactions

2K acquired

Non-Derivative Transactions2

Common Stock

Indirect

P · Purchase

+1K

Price / share

$46.26

Trade value

$46.26K

% of position

1.8%

11/19/2025

56.50K→57.50K

Common Stock

Indirect

P · Purchase

+1K

Price / share

$45.70

Trade value

$45.70K

% of position

1.7%

11/20/2025

57.50K→58.50K

Total

Net shares

+2K

Net value

$91.95K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Indirect	11/19/2025	P · Purchase	+1K	$46.26	$46.26K	1.8%	56.50K	57.50K
Common Stock Indirect	11/20/2025	P · Purchase	+1K	$45.70	$45.70K	1.7%	57.50K	58.50K
Total			+2K		$91.95K

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)1

Common Stock

Direct

Shares owned213.31K

Total

213.31K direct213.31K

Security Title	Shares Owned	Ownership Type
Common Stock	213.31K	Direct
Total	213.31K	213.31K direct

Derivative Holdings (Post-Transaction)6

Restricted Stock Units 2022

Direct

Underlying security

Common Stock

Underlying shares

16.22K

Shares owned

16.22K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2023

Direct

Underlying security

Common Stock

Underlying shares

31.57K

Shares owned

31.57K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2021

Direct

Underlying security

Common Stock

Underlying shares

12.61K

Shares owned

12.61K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2024

Direct

Underlying security

Common Stock

Underlying shares

38.12K

Shares owned

38.12K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2025

Direct

Underlying security

Common Stock

Underlying shares

45.44K

Shares owned

45.44K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2020

Direct

Underlying security

Common Stock

Underlying shares

15.98K

Shares owned

15.98K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

159.94K

Owned

159.94K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Restricted Stock Units 2022 Direct	Common Stock	0	—	—	16.22K	16.22K
Restricted Stock Units 2023 Direct	Common Stock	0	—	—	31.57K	31.57K
Restricted Stock Units 2021 Direct	Common Stock	0	—	—	12.61K	12.61K
Restricted Stock Units 2024 Direct	Common Stock	0	—	—	38.12K	38.12K
Restricted Stock Units 2025 Direct	Common Stock	0	—	—	45.44K	45.44K
Restricted Stock Units 2020 Direct	Common Stock	0	—	—	15.98K	15.98K
Total					159.94K	159.94K