Form 4: Innovative Industrial Properties Director Scott Shoemaker Disposes of Shares and Acquires Restricted Stock Units
SEC Form 4 Filing
Director Scott Shoemaker disposed of 1,700 shares of Innovative Industrial Properties and acquired 1,416 restricted stock units.
Summary
- On May 15, 2024, Scott Shoemaker, a director of Innovative Industrial Properties Inc. (IIPR), disposed of 1,700 shares of common stock.
- On the same day, Shoemaker acquired 1,416 restricted stock units (RSUs) under the company's Nonqualified Deferred Compensation Plan (NQDC Plan).
- These RSUs will vest on May 15, 2025, contingent upon Shoemaker's continued service as a non-employee director or employee.
- Shoemaker also holds other RSUs granted in 2020, 2021, 2022 and 2023, which are subject to the vesting conditions under the NQDC Plan.
- The reporting person continues to hold 2,247 RSUs from 2023, 1,249 RSUs from 2022, 883 RSUs from 2021 and 911 RSUs from 2020.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the director's holdings and transactions.
Negatives
- Scott Shoemaker disposed of 1,700 shares of common stock.
Future Outlook
The vesting of the RSUs is contingent upon the reporting person's continued service as a non-employee director or employee of the company and the satisfaction of the vesting conditions under the Company's Nonqualified Deferred Compensation Plan.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions. It doesn't provide specific insights into the broader industry trends but reflects standard compensation practices for directors.
Stakeholder Impact
- The disposal of shares may have a minor impact on shareholders, but the acquisition of RSUs is part of standard director compensation.
Key Dates
| Date | Description |
|---|---|
| 05/15/2024 | Date of transaction: disposal of shares and acquisition of RSUs |
| 05/15/2025 | Vesting date for 1,416 RSUs acquired in 2024, contingent upon continued service |
| 06/07/2024 | Date that RSUs from 2023 shall be released from forfeiture restriction, provided that the reporting person continues to be a non-employee director or employee of the Company on such date. |
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