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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Innovative Industrial Properties Inc | NYSE:IIPR | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.06 | 0.98% | 109.35 | 111.7116 | 107.44 | 110.00 | 287,338 | 01:00:00 |
| DATE & TIME | | | 8:00 a.m., Pacific Time, on May 22, 2019 | |
| PLACE | | |
Innovative Industrial Properties, Inc.
11440 West Bernardo Court, Suite 220 San Diego, CA 92127 |
|
| ITEMS OF BUSINESS | | | 1. To elect five directors, each to serve until the 2020 annual meeting of stockholders and until his successor is duly elected and qualified. | |
| | | | 2. To ratify the appointment of BDO USA, LLP as our independent registered public accounting firm for the year ending December 31, 2019. | |
| | | | 3. To transact such other business as may be properly presented at the annual meeting or any postponement or adjournment of the meeting. | |
| RECORD DATE | | | You are entitled to vote at the annual meeting if you were a stockholder of record as of the close of business on March 29, 2019. | |
| PROXY MATERIALS | | | This notice of meeting, the proxy statement, the proxy card, and our 2018 annual report to stockholders, which is not part of the proxy solicitation materials, are available at https://www.cstproxy.com/innovativeindustrialproperties/2019. | |
| PROXY VOTING | | | If you received a Notice of Internet Availability of Proxy Materials by mail, you will not receive a printed copy of the proxy materials in the mail. Instead, the Notice of Internet Availability of Proxy Materials instructs you on how to access and review this proxy statement and our 2018 annual report and how to authorize your proxy online or by telephone. If you received a Notice of Internet Availability of Proxy Materials by mail and would like to receive a printed copy of our proxy materials, you should follow the instructions for requesting such materials included in the Notice of Internet Availability of Proxy Materials. We are also sending a paper copy of the proxy materials to any stockholder who has elected to receive its proxy materials by mail. Your proxy is important. Whether or not you plan to attend the annual meeting, please authorize your proxy by Internet or telephone, or, if you received a paper copy of the materials by mail, please mark, sign, date and return your proxy card, so that your shares will be represented at the annual meeting. If you plan to attend the annual meeting and wish to vote your shares personally, you may withdraw your proxy and vote in person at any time before the proxy is voted. | |
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Alan Gold
|
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Gary Kreitzer
|
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Scott Shoemaker
|
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Paul Smithers
|
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David Stecher
|
| |||||||||||||||
|
Extensive commercial real estate
experience |
| | | | X | | | | | | X | | | | | | | | | | | | | | | | | | | | |
|
Relevant executive experience
|
| | | | X | | | | | | X | | | | | | | | | | | | X | | | | | | | | |
|
High level of financial and capital markets
experience |
| | | | X | | | | | | X | | | | | | | | | | | | | | | | | | X | | |
|
Deep understanding of potential medical applications for cannabis
|
| | | | X | | | | | | | | | | | | X | | | | | | | | | | | | | | |
|
Strong regulatory and legal knowledge
|
| | | | | | | | | | X | | | | | | | | | | | | X | | | | | | | | |
|
Risk oversight experience
|
| | | | X | | | | | | X | | | | | | X | | | | | | X | | | | | | X | | |
Name
|
| |
Position
|
| |
Age
|
|
Alan Gold | | | Executive Chairman | | |
58
|
|
Gary Kreitzer | | | Vice Chairman | | |
64
|
|
Scott Shoemaker | | | Director | | |
52
|
|
Paul Smithers | | | President, Chief Executive Officer and Director | | |
62
|
|
David Stecher | | | Director | | |
58
|
|
Name
(1)
|
| |
Fees Earned or
Paid in Cash |
| |
Stock Awards
(2)
|
| |
Total
|
| |||||||||
Gary Kreitzer
|
| | | $ | 52,500 | | | | | $ | 50,013 | | | | | $ | 102,513 | | |
Scott Shoemaker, M.D.
|
| | | | 27,500 | | | | | | 40,018 | | | | | | 67,518 | | |
David Stecher
|
| | | | 30,000 | | | | | | 40,018 | | | | | | 70,018 | | |
| | |
Audit
Committee |
| |
Compensation
Committee |
| |
Nominating
and Corporate Governance Committee |
|
Gary Kreitzer
|
| |
X
|
| |
Chair
|
| |
X
|
|
Scott Shoemaker, M.D.
|
| |
X
|
| |
X
|
| |
Chair
|
|
David Stecher
|
| |
Chair
|
| |
X
|
| |
X
|
|
Number of Meetings in 2018
|
| |
4
|
| |
3
|
| |
2
|
|
| | |
2018
|
| |
2017
|
| ||||||
Audit Fees
(1)
|
| | | $ | 220 | | | | | $ | 183 | | |
Audit Related Fees
|
| | | | — | | | | | | — | | |
Tax Fees
|
| | | | 13 | | | | | | — | | |
All Other Fees
|
| | | | — | | | | | | — | | |
Total | | | | $ | 233 | | | | | $ | 183 | | |
|
Name
|
| |
Position
|
|
Alan Gold | | | Executive Chairman | |
Paul Smithers | | | President and Chief Executive Officer | |
Catherine Hastings | | | Chief Financial Officer, Chief Accounting Officer and Treasurer | |
Brian Wolfe | | | Vice President, General Counsel and Secretary | |
Name and Principal Position
|
| |
Year
|
| |
Salary
|
| |
Bonus
|
| |
Stock
Awards |
| |
All Other
Compensation (3) |
| |
Total
|
| ||||||||||||||||||
Alan Gold
Executive Chairman |
| | | | 2018 | | | | | $ | 600,000 | | | | | $ | 800,000 | | | | | $ | 1,200,058 (2) | | | | | $ | 8,250 | | | | | $ | 2,608,308 | | |
| | | 2017 | | | | | | 600,000 | | | | | | 400,000 | | | | | | 1,199,985 (1) | | | | | | 8,100 | | | | | | 2,208,085 | | | ||
Paul Smithers
President and Chief Executive Officer |
| | | | 2018 | | | | | | 360,000 | | | | | | 360,000 | | | | | | 350,043 (2) | | | | | | 8,250 | | | | | | 1,078,293 | | |
| | | 2017 | | | | | | 350,000 | | | | | | 210,000 | | | | | | 315,000 (1) | | | | | | 8,100 | | | | | | 883,100 | | | ||
Catherine Hastings
Chief Financial Officer, Chief Accounting Officer and Treasurer |
| | | | 2018 | | | | | | 210,000 | | | | | | 210,000 | | | | | | 200,024 (2) | | | | | | 8,250 | | | | | | 628,274 | | |
| | | 2017 | | | | | | 187,000 | | | | | | 120,000 | | | | | | 127,491 (1) | | | | | | 5,671 | | | | | | 440,162 | | | ||
Brian Wolfe
Vice President, General Counsel and Secretary |
| | | | 2018 | | | | | | 210,000 | | | | | | 210,000 | | | | | | 200,024 (2) | | | | | | 8,250 | | | | | | 628,274 | | |
| | | 2017 | | | | | | 200,000 | | | | | | 120,000 | | | | | | 159,994 (1) | | | | | | 8,100 | | | | | | 488,094 | | |
| | |
Stock Awards
|
| |||||||||
Name
|
| |
Number of
Shares or Units of Stock That Have Not Vested (#) (1) |
| |
Market Value of
Shares or Units of Stock That Have Not Vested ($) (1) |
| ||||||
Alan Gold
|
| | | | 83,575 (2) | | | | | $ | 3,793,469 | | |
Paul Smithers
|
| | | | 23,128 (3) | | | | | | 1,049,780 | | |
Catherine Hastings
|
| | | | 11,342 (4) | | | | | | 514,813 | | |
Brian Wolfe
|
| | | | 12,502 (5) | | | | | | 567,466 | | |
Plan Category
|
| |
Number of
Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights |
| |
Weighted Average
Exercise Price of Outstanding Options, Warrants and Rights |
| |
Number of Securities
Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in First Column) |
| |||||||||
Equity compensation plans approved by stockholders
(1)
|
| | | | — | | | | | | — | | | | | | 784,200 | | |
Equity compensation plans not approved by stockholders
|
| | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | — | | | | | | — | | | | | | 784,200 | | |
|
Name of Beneficial Owner
|
| |
Number of
Shares Beneficially Owned |
| |
Percent of All
Shares (1) |
| ||||||
Alan Gold
(2)
|
| | | | 385,989 | | | | | | 3.9 % | | |
Paul Smithers
(3)
|
| | | | 47,565 | | | | | | * | | |
Gary Kreitzer
(4)
|
| | | | 32,430 | | | | | | * | | |
Catherine Hastings
(5)
|
| | | | 18,454 | | | | | | * | | |
Brian Wolfe
(6)
|
| | | | 18,136 | | | | | | * | | |
Scott Shoemaker
(7)
|
| | | | 4,644 | | | | | | * | | |
David Stecher
(8)
|
| | | | 4,644 | | | | | | * | | |
All directors and officers as a group (seven persons)
|
| | | | 511,862 | | | | | | 5.2 % | | |
BlackRock, Inc.
(9)
|
| | | | 1,364,809 | | | | | | 13.9 % | | |
Vanguard Group, Inc.
(10)
|
| | | | 949,620 | | | | | | 9.7 % | | |
TimesSquare Capital Management, LLC
(11)
|
| | | | 608,717 | | | | | | 6.2 % | | |
1 Year Innovative Industrial Pr... Chart |
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