Iron Mountain Form 144: Insider Registers $1.7M Share Sale

Rhea-AI Filing Summary

Iron Mountain Inc. (IRM) filed a Form 144 indicating that an affiliate—identified in prior sales tables as Gregory McIntosh—plans to sell up to 17,339 common shares through Fidelity on or after 01-Aug-2025. The shares have an estimated aggregate market value of $1.69 million, representing less than 0.01% of the company’s 295.0 million shares outstanding, thus posing minimal dilution risk.

The seller has been a consistent disposer of stock: over the last three months he sold 42,066 shares for total gross proceeds of approximately $4.6 million (8,398 on 22-May-2025; 17,334 on 02-Jun-2025; 17,334 on 01-Jul-2025). The current notice discloses that the shares being sold were acquired via restricted-stock vesting on 01-Mar-2025 as compensation.

Form 144 filings do not guarantee that a sale will occur, but they flag potential insider selling. Given the modest size relative to float yet the continuing pattern of disposals, investors may view the filing as a mildly negative sentiment indicator rather than a financially material event.

Positive

• None.

Negative

• Repeated insider selling: 42,066 shares (~$4.6 m) already sold in prior 3 months, with another 17,339 shares planned, may signal waning insider confidence.
• Potential sentiment drag: Even immaterial sales can influence market perception, especially when they follow a pattern.

Insights

Securities Analyst

TL;DR: Small sale (<0.01% float) but continues insider-selling trend—sentiment negative, financial impact immaterial.

The proposed 17.3k-share sale adds to three sales totaling 42.1k shares over the past quarter. While the cash value (~$1.7 m) is meaningful for the individual, it is negligible for IRM’s $19 bn market cap and will not affect liquidity or earnings. Nevertheless, persistent insider selling can pressure sentiment, particularly for income-oriented REIT investors who monitor executive confidence amid rising rates. I rate the event not impactful to fundamentals but slightly negative to optics.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	17339	1685350.80	295043896	08/01/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	03/01/2025	Restricted Stock Vesting	Issuer			17339	03/01/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Gregory Mcintosh 85 New Hampshire Avenue Suite 150 Portsmouth NH 03801	Common	05/22/2025	8398	807383.72
Gregory Mcintosh 85 New Hampshire Avenue Suite 150 Portsmouth NH 03801	Common	06/02/2025	17334	1702025.46
Gregory Mcintosh 85 New Hampshire Avenue Suite 150 Portsmouth NH 03801	Common	07/01/2025	17334	1733466.02

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Iron Mountain (IRM) shares are being registered for sale?

The Form 144 covers 17,339 common shares.

What is the estimated market value of the shares to be sold?

The filing lists an aggregate market value of $1,685,350.80.

When can the insider begin selling the shares?

Sales may begin on or about 08/01/2025, subject to Rule 144 conditions.

How large is this sale relative to Iron Mountain’s share count?

It represents less than 0.01% of the 295,043,896 shares outstanding.

Has the filer sold IRM shares recently?

Yes. The same individual sold 8,398 shares on 22-May-2025, 17,334 on 02-Jun-2025, and 17,334 on 01-Jul-2025.

Where will the shares be sold?

The filing notes the NYSE as the exchange and Fidelity Brokerage Services LLC as broker.