Iron Mountain director granted 99 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 99.06 units of phantom stock at a reference value of $116.79 per unit under the company’s Directors Deferred Compensation Plan. This increased his phantom stock balance to 13,800.33 units, each economically equivalent to one share of common stock and payable in stock after disability or when he ceases serving as a director. The award also reflects dividends on common stock as if reinvested in additional phantom shares.

Insider Trade Summary

Grant/Award: 99.06 shares

Grant/Award 1 txn

Insider Samuels Theodore R. II

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	99.06	$116.79	$12K

Holdings After Transaction: Phantom Stock — 13,800.33 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 dividends paid on Common Stock as if reinvested in Phantom Shares.

Key Figures

Phantom stock grant: 99.06 units Grant reference price: $116.79 per unit Total phantom stock after grant: 13,800.33 units +2 more

5 metrics

Phantom stock grant 99.06 units Grant of phantom stock units on 2026-07-06

Grant reference price $116.79 per unit Reference value used for phantom stock grant

Total phantom stock after grant 13,800.33 units Holdings following reported transaction

Underlying common stock equivalent 99.06 shares Each phantom share equals one common share

Derivative transactions count 1 transaction Single derivative-type grant reported in Form 4

Key Terms

Phantom Stock, Directors Deferred Compensation Plan, Common Stock, economic equivalent

4 terms

Phantom Stock financial

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

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.

Common Stock financial

"payable in shares of Iron Mountain Incorporated common stock ("Common Stock")"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

economic equivalent financial

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

FAQ

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

What did IRON MOUNTAIN INC director Theodore R. Samuels II report on this Form 4?

He reported receiving 99.06 phantom stock units as a compensation grant. The award was made under Iron Mountain’s Directors Deferred Compensation Plan and is economically equivalent to common shares, increasing his total phantom stock holdings to 13,800.33 units.

What is phantom stock in the IRM Form 4 filing for Theodore R. Samuels II?

Phantom stock represents units tied to the value of Iron Mountain common shares. Each phantom share is economically equivalent to one common share and is ultimately settled in stock, rather than cash, under the company’s director deferred compensation program.

When will Theodore R. Samuels II receive Iron Mountain common stock for these phantom shares?

The phantom shares will be paid out in Iron Mountain common stock after his disability or when he stops serving as a director. This timing is defined by the Directors Deferred Compensation Plan’s terms for deferred director compensation.

How many total phantom stock units does Theodore R. Samuels II hold after this IRM grant?

After the grant of 99.06 new units, he holds 13,800.33 phantom stock units. Each unit tracks the value of one Iron Mountain common share and will ultimately be settled in stock under the plan’s payout conditions.

How is the 99.06 phantom stock grant for IRM’s director valued in this filing?

The 99.06 phantom stock units are reported at a reference value of $116.79 per unit. This value reflects the price used for the grant and helps quantify the size of the compensation award reported in the Form 4 filing.

How do dividends affect Theodore R. Samuels II’s Iron Mountain phantom stock balance?

His phantom stock balance reflects dividends on Iron Mountain common stock as if reinvested in additional phantom shares. This means dividend payments effectively increase the number of phantom units, aligning the award’s value with total shareholder return over time.

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

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Accepted by SEC EDGAR 07/07/2026 - 04:31 PM 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)
07/06/2026

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)	07/06/2026		A		99.06(2)		(1)	(1)	Common Stock	99.06	$116.79	13,800.33	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 dividends paid on Common Stock as if reinvested in Phantom Shares.

Remarks:

	/s/ Keely Stewart, under Power of Attorney dated July 6, 2023 from Theodore R Samuels	07/07/2026
	** 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)