Iron Mountain director granted Phantom Stock units

Samuels Theodore R. II reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Samuels Theodore R. II reported acquisition or exercise transactions in this Form 4 filing.

IRON MOUNTAIN INC director Theodore R. Samuels II received a grant of 310.86 units of Phantom Stock as board compensation. The award is part of the company’s Directors Deferred Compensation Plan and is economically equivalent to the same number of shares of common stock.

The Phantom Shares will be settled in Iron Mountain common stock after his disability or when his service as a director ends. Following this grant, his Phantom Stock balance reported in this plan totals 13,701.27 units, reflecting ongoing reinvestment of his quarterly cash board compensation.

Insider Trade Summary

Grant/Award: 310.86 shares

Grant/Award 1 txn

Insider Samuels Theodore R. II

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	310.86	$116.61	$36K

Holdings After Transaction: Phantom Stock — 13,701.27 contracts (Direct)

Footnotes (2)

1. F1. Pursuant to the Reporting Person's election to participate in the Iron Mountain Incorporated Directors Deferred Compensation Plan, the shares of phantom stock (the "Phantom Shares") will become payable in shares of Iron Mountain Incorporated common stock ("Common Stock") following the Reporting Person's disability or cessation of service as a director. Each Phantom Share is the economic equivalent of one share of Common Stock.
2. F2. These shares give effect to the Reporting Person's quarterly cash compensation for services on the board of directors of the Company as if reinvested in Phantom Shares.

Key Figures

Phantom Stock grant: 310.86 units Grant reference price: $116.61 per unit Phantom Stock holdings: 13,701.27 units +1 more

4 metrics

Phantom Stock grant 310.86 units Grant of Phantom Stock on 2026-07-02 as board compensation

Grant reference price $116.61 per unit Economic reference value per Phantom Share on grant date

Phantom Stock holdings 13,701.27 units Total Phantom Stock units held after the reported transaction

Conversion ratio 1:1 to common stock Each Phantom Share equals one Iron Mountain common share economically

Key Terms

Phantom Stock, Directors Deferred Compensation Plan, economic equivalent, quarterly cash compensation

4 terms

Phantom Stock financial

"the shares of phantom stock (the "Phantom Shares") will become payable"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Directors Deferred Compensation Plan financial

"election to participate in the Iron Mountain Incorporated Directors Deferred Compensation Plan"

A directors deferred compensation plan lets a board member postpone receiving part or all of their cash fees or stock-based pay until a future date, often retirement, allowing taxes to be delayed and payouts to be structured over time. Investors care because these plans change a company’s future cash obligations and reveal how the board’s pay is aligned with long-term performance—like choosing to take a paycheck later to tie personal reward to the company’s future results.

economic equivalent financial

"Each Phantom Share is the economic equivalent of one share of Common Stock"

quarterly cash compensation financial

"give effect to the Reporting Person's quarterly cash compensation for services"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did IRON MOUNTAIN INC (IRM) disclose for Theodore R. Samuels II?

IRON MOUNTAIN INC reported that director Theodore R. Samuels II received 310.86 Phantom Stock units. These units represent deferred board compensation and are economically equivalent to the same number of Iron Mountain common shares, increasing his Phantom Stock balance under the director plan.

What is Phantom Stock in the IRON MOUNTAIN INC (IRM) Form 4 filing?

Phantom Stock represents a deferred compensation unit economically equal to one common share of Iron Mountain stock. Under the directors’ plan, these units will be paid out in actual common shares after disability or when the director’s service ends.

How many Phantom Stock units does Theodore R. Samuels II hold after this IRM grant?

After the 310.86-unit grant, Theodore R. Samuels II holds 13,701.27 Phantom Stock units. This total reflects his accumulated deferred board compensation, treated as if quarterly cash fees were reinvested into additional Phantom Stock units over time.

Is the IRON MOUNTAIN INC (IRM) Phantom Stock grant a market purchase or sale?

No, the Phantom Stock grant is not a market purchase or sale. It is a compensation-related award under the Directors Deferred Compensation Plan, where quarterly cash board fees are treated as if reinvested into Phantom Stock units for future settlement in shares.

When will the Phantom Stock units reported for IRON MOUNTAIN INC (IRM) be paid out?

The Phantom Stock units will be paid in Iron Mountain common shares following Theodore R. Samuels II’s disability or when his service as a director ends. Until then, the units remain as deferred compensation tracked within the directors’ plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/06/2026 - 04:34 PM EDT Learn about SEC filing dates

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).

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^*

Samuels Theodore R. II

(Last) (First) (Middle)

C/O IRON MOUNTAIN INCORPORATED

85 NEW HAMPSHIRE AVENUE, SUITE 150

(Street)

PORTSMOUTH NEW HAMPSHIRE 03801

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/02/2026

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

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

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

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

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
Phantom Stock	(1)	07/02/2026		A		310.86(2)		(1)	(1)	Common Stock	310.86	$116.61	13,701.27	D

Explanation of Responses:

1. Pursuant to the Reporting Person's election to participate in the Iron Mountain Incorporated Directors Deferred Compensation Plan, the shares of phantom stock (the "Phantom Shares") will become payable in shares of Iron Mountain Incorporated common stock ("Common Stock") following the Reporting Person's disability or cessation of service as a director. Each Phantom Share is the economic equivalent of one share of Common Stock.

2. These shares give effect to the Reporting Person's quarterly cash compensation for services on the board of directors of the Company as if reinvested in Phantom Shares.

Remarks:

	/s/ Keely Stewart, under Power of Attorney dated July 6, 2023 from Theodore R Samuels	07/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)