SHOEMAKER SCOTT exercised options at INNOVATIVE INDUSTRIAL PROPERTIES INC

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 1 exercise

SHOEMAKER SCOTT

Filed: 2/3/2026ACC: 0001689305-26-000002

InsiderSHOEMAKER SCOTTCIK 1689305

→

IssuerINNOVATIVE INDUSTRIAL PROPERTIES INCCIK 1677576

Director

Since May 2019

0.00

Net shares

Net seller

$0.00

Total acquired

Open market trades

0B · 0S

Total transactions

911.00 acquired · 911.00 disposed

Non-Derivative Transactions1

Common Stock

Direct

M · Option Exercise

+911.00

Price / share

—

Trade value

—

% of position

53.6%

1/2/2026

1.70K→2.61K

Total

Net shares

+911.00

Net value

$0.00

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	1/2/2026	M · Option Exercise	+911.00	—	—	53.6%	1.70K	2.61K
Total			+911.00		$0.00

Derivative Transactions1

Restricted Stock Units 2020

Direct

M · Option Exercise

Converts to

Common Stock

911.00 shares

−911.00

Strike price

Held after

0.00

Exercisable

—

1/2/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Restricted Stock Units 2020 Direct	Common Stock911.00 shares	1/2/2026	M · Option Exercise	−911.00	0	—	0.00

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)5

Restricted Stock Units 2021

Direct

Underlying security

Common Stock

Underlying shares

883.00

Shares owned

883.00

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2023

Direct

Underlying security

Common Stock

Underlying shares

2.25K

Shares owned

2.25K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2024

Direct

Underlying security

Common Stock

Underlying shares

1.42K

Shares owned

1.42K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2025

Direct

Underlying security

Common Stock

Underlying shares

2.80K

Shares owned

2.80K

Exercise price

Expiration

—

Exercise window

—

Restricted Stock Units 2022

Direct

Underlying security

Common Stock

Underlying shares

1.25K

Shares owned

1.25K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

8.59K

Owned

8.59K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Restricted Stock Units 2021 Direct	Common Stock	0	—	—	883.00	883.00
Restricted Stock Units 2023 Direct	Common Stock	0	—	—	2.25K	2.25K
Restricted Stock Units 2024 Direct	Common Stock	0	—	—	1.42K	1.42K
Restricted Stock Units 2025 Direct	Common Stock	0	—	—	2.80K	2.80K
Restricted Stock Units 2022 Direct	Common Stock	0	—	—	1.25K	1.25K
Total					8.59K	8.59K