[Form 4] IRON MOUNTAIN INC Insider Trading Activity

Rhea-AI Filing Summary

Iron Mountain (IRM) President and CEO William Meaney reported insider transactions. On November 3, 2025, he exercised 69,125 employee stock options at $36.588 per share pursuant to a Rule 10b5-1 trading plan adopted on August 18, 2023.

The exercised shares were then sold in multiple transactions at weighted-average prices: 22,619 shares at $102.02, 35,678 shares at $102.922, and 10,828 shares at $103.689. After the reported sales, direct common stock holdings were 0 shares. An additional 295,650 shares were reported as indirectly held by a Grantor Retained Annuity Trust. The option exercised ties to a grant with an expiration date of February 18, 2026.

Insights

Equity markets analyst

Routine 10b5-1 option exercise and sales; neutral impact.

William Meaney exercised 69,125 options at $36.588 and sold the resulting shares at weighted-average prices of $102.02, $102.922, and $103.689. The transactions were made pursuant to a Rule 10b5-1 plan adopted on August 18, 2023, indicating a pre-established selling framework.

Following the sales, direct holdings were reported as 0 shares, while 295,650 shares were listed as indirectly held by a GRAT. The exercised option relates to a grant expiring on February 18, 2026. Actual market impact is typically limited for such administrative insider trades.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Meaney William L

(Last) (First) (Middle)

C/O IRON MOUNTAIN INCORPORATED

85 NEW HAMPSHIRE AVENUE, SUITE 150

(Street)

PORTSMOUTH NH 03801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IRON MOUNTAIN INC [ IRM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.01 per share	11/03/2025		M(1)		69,125	A	$36.588	69,125	D
Common Stock, par value $.01 per share	11/03/2025		S(1)		22,619	D	$102.02(2)	46,506	D
Common Stock, par value $.01 per share	11/03/2025		S(1)		35,678	D	$102.922(3)	10,828	D
Common Stock, par value $.01 per share	11/03/2025		S(1)		10,828	D	$103.689(4)	0	D
Common Stock, par value $.01 per share								295,650	I(5)	By GRAT

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$36.588	11/03/2025		M(1)			69,125	(6)	02/18/2026	Common Stock, par value $.01 per share	69,125	$36.588	69,125	D

Explanation of Responses:

1. The transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 18, 2023.

2. The price reported in Column 4 is a weighted average price. These shares of Iron Mountain Incorporated common stock ("Common Stock") were sold in multiple transactions at prices ranging from $101.475 to $102.475, inclusive. The Reporting Person undertakes to provide Iron Mountain Incorporated (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold at each separate price within the ranges set forth in this footnote (2).

3. The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $102.485 to $103.470, inclusive. The Reporting Person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold at each separate price within the ranges set forth in this footnote (3).

4. The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $103.510 to $103.805, inclusive. The Reporting Person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold at each separate price within the ranges set forth in this footnote (4)

5. Balance reflects 295,650 shares transferred from the Grantor for funding of a Grantor Retained Annuity Trust on November 29, 2024. This transfer is exempt from Section 16 pursuant to Rule 16a-13.

6. This stock option, representing a right to purchase a total of 829,506 shares, is fully vested.

Remarks:

	/s/ Christine Zhang, under Power of Attorney dated February 27, 2025, from William Meaney	11/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did IRM CEO William Meaney report on Form 4?

He exercised 69,125 stock options at $36.588 and sold shares in multiple transactions on November 3, 2025 under a Rule 10b5-1 plan.

At what prices were IRM shares sold in the reported transactions?

Weighted-average prices were $102.02 for 22,619 shares, $102.922 for 35,678 shares, and $103.689 for 10,828 shares.

How many IRM shares did the CEO hold directly after the sales?

Direct common stock holdings were 0 shares after the reported transactions.

What indirect IRM holdings were disclosed?

An additional 295,650 shares were reported as indirectly held by a Grantor Retained Annuity Trust (GRAT).

Was the IRM insider trading under a 10b5-1 plan?

Yes. The transactions were pursuant to a Rule 10b5-1 plan adopted on August 18, 2023.

When does the related stock option grant expire?

The grant referenced in the exercise has an expiration date of February 18, 2026.