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Form 8-K

sec.gov

8-K — INNOVATIVE INDUSTRIAL PROPERTIES INC

Accession: 0001104659-26-042068

Filed: 2026-04-10

Period: 2026-04-06

CIK: 0001677576

SIC: 6500 (REAL ESTATE)

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

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UNITED STATES

SECURITIES AND

EXCHANGE COMMISSION

WASHINGTON,

D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to

Section 13 or 15(d)

of the Securities

Exchange Act of 1934

Date of

Report (Date of earliest event reported): April 6, 2026

Innovative Industrial

Properties, Inc.

(Exact name

of registrant as specified in its charter)

Maryland

001-37949

81-2963381

(State or Other Jurisdiction

of Incorporation)

(Commission

File No.)

(I.R.S. Employer

Identification No.)

1389 Center

Drive, Suite 200

Park City, UT

84098

(Address of

principal executive offices, including zip code)

Registrant’s

telephone number, including area code: (858) 997-3332

Check the appropriate box below if

the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions

(see General Instruction A.2. below):

¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨

Pre-commencement communications pursuant

to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under

the Exchange Act (17 CFR 240.13e-4(c))

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).                   Emerging growth company

¨

If an emerging growth company, indicate by check mark if the

registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards

provided pursuant to Section 13(a) of the Exchange Act. ¨

Securities Registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.001 per share

IIPR

New York Stock Exchange

Series A Preferred Stock, par value $0.001 per share

IIPR-PA

New York Stock Exchange

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

Director Retirement Upon Expiration

of Term

On April 6, 2026, Gary

Kreitzer informed Innovative Industrial Properties, Inc. (the “Company”) that he will retire from the Board and not stand

for re-election when his term expires at the Company’s 2026 annual meeting of shareholders. Mr.

Kreitzer’s decision not to stand for re-election is not the result of any disagreement with the Company, known to an executive officer

of the Company, on any matter relating to the Company’s operations, policies, or practices.

Alan

Gold, the Company’s Executive Chairman said: “The Company extends its sincere gratitude to Gary for his dedicated service

on the Board since its inception. His leadership and insight have played a meaningful role in shaping our success and guiding the Company

through periods of growth and change.”

SIGNATURES

Pursuant to the requirements

of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto

duly authorized.

Date:

April 10, 2026

INNOVATIVE INDUSTRIAL PROPERTIES, INC.

By:

/s/ David Smith

Name:

David Smith

Title:

Chief Financial Officer

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