Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Executive Compensation Decisions

On June 23, 2021, the Compensation Committee (the "Compensation Committee") of the Board of Directors of Innovative Industrial Properties, Inc. (the "Company") evaluated each executive officer's individual performance and the Company's performance year-to-date versus the corporate performance measures previously set by the Compensation Committee to determine executive compensation for 2021, and determined to grant the executive officers mid-year 2021 cash bonuses, as summarized in the following table:





                                                   2021 Mid-Year
Name and Position                                    Cash Bonus
Alan Gold
Executive Chairman                                 $     767,813

Paul Smithers
President and Chief Executive Officer                    420,000

Catherine Hastings
Chief Financial Officer and Treasurer                    154,250

Brian Wolfe
Vice President, General Counsel and Secretary            147,500

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits.




Exhibit
Number    Description of Exhibit

104       Cover Page Interactive Data File (embedded within the Inline XBRL document).

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