Paul Smithers is President and Chief Executive Officer of Innovative Industrial Properties, Inc. (IIPR). The company reported total compensation of $4,722,417 for fiscal year 2025.
| Salary | $1,120,350 |
|---|---|
| Bonus | $0 |
| Stock awards | $2,375,203 |
| Option awards | $0 |
| Non-equity incentive plan | $1,216,364 |
| Pension and non-qualified deferred compensation | $0 |
| All other compensation | $10,500 |
| Total | $4,722,417 |
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed, without adjustment.
Cited to the compensation disclosure Innovative Industrial Properties, Inc. filed April 22, 2026, accession 0001628280-26-026588.
| Fiscal year | Role | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | President and Chief Executive Officer | $1,120,350 | $0 | $2,375,203 | $0 | $1,216,364 | $0 | $10,500 | $4,722,417 |
| FY2024 | President and Chief Executive Officer | $1,067,000 | $0 | $2,500,078 | $0 | $1,421,845 | $0 | $10,350 | $4,999,273 |
| FY2023 | President and Chief Executive Officer | $1,016,400 | $1,524,600 | $2,500,122 | $0 | $0 | $0 | $9,900 | $5,051,022 |
| FY2022 | President and Chief Executive Officer | $924,000 | $1,386,000 | $8,500,204 | $0 | $0 | $0 | $9,150 | $10,819,354 |
| FY2021 | President, Chief Executive Officer and Director | $840,000 | $1,260,000 | $4,860,388 | $0 | $0 | $0 | $8,700 | $6,969,088 |
| FY2020 | President, Chief Executive Officer and Director | $420,000 | $630,000 | $800,147 | $0 | $0 | $0 | $8,550 | $1,858,697 |
| FY2019 | President, Chief Executive Officer and Director | $400,000 | $400,000 | $600,157 | $0 | $0 | $0 | $8,400 | $1,408,557 |
Totals as disclosed in each year's own compensation disclosure for Innovative Industrial Properties, Inc..
| Peer-group chief executive median | $37,749,569 |
|---|---|
| Difference from that median | $-33,027,152 |
| Percentile within the disclosed peer group | 1st |
| Peers with a disclosed figure | 1 |
Medians and percentiles are computed across the peer group Innovative Industrial Properties, Inc. discloses in its own compensation disclosure.
| Named executive officer | Role | FY2025 total |
|---|---|---|
| Alan Gold | Executive Chairman | $6,553,130 |
| Paul Smithers this page | President and Chief Executive Officer | $4,722,417 |
| David Smith | Chief Financial Officer and Treasurer | $1,930,300 |
The company's named executive officers for fiscal year 2025, and what it reported for each. See the full Innovative Industrial Properties, Inc. compensation brief.
Paul Smithers's compensation sits inside Innovative Industrial Properties, Inc.'s full executive and board picture — the peer group, pay against peers, incentive design and the board itself.
The Innovative Industrial Properties, Inc. (IIPR) compensation brief