IIPR board authorizes $100 million common stock repurchase program

INNOVATIVE INDUSTRIAL PROPERTIES INC

Board approved repurchase of up to $100M of common stock; expires March 17, 2026.
Repurchases may be made via open market, block trades, or private transactions under Rule 10b-18.
Funding from existing cash and proceeds from Series A preferred ATM offering.
Company may adopt a 10b5-1 plan to repurchase during blackout periods.
Program may be suspended, modified, or discontinued at any time at IIPR's discretion.

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