Iron Mountain (IRM) SVP Borges awarded 6,537 performance units in equity grant update

Rhea-AI Filing Summary

Iron Mountain Incorporated senior executive equity award update. SVP & Chief Accounting Officer Daniel Borges reported an acquisition of 6,537 Performance Units, reflecting the Compensation Committee’s February 16, 2026 determination of the actual award under a March 1, 2023 grant. Each unit represents a contingent right to receive one share of common stock. After this award, Borges directly holds 9,152 Performance Units, which are scheduled to fully vest on March 1, 2026, subject to the grant’s terms.

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

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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^*

Borges Daniel

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/16/2026

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

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
Performance Units	(1)	02/16/2026		A		6,537(2)		(3)	(3)	Common Stock, par value $.01 per share	6,537	$0	9,152	D

Explanation of Responses:

1. Each Performance Unit ("PU") represents a contingent right to receive one share of Iron Mountain Incorporated common stock ("Common Stock").

2. The PUs were initially granted to the Reporting Person on March 1, 2023. This Form 4 is being filed to reflect the determination by the Compensation Committee, effective as of February 16, 2026, of the actual award of PUs under the grant after completion of the relevant performance period.

3. The PU were initially granted to the Reporting Person on March 1, 2023, and will fully vest on March 1, 2026.

Remarks:

	/s/ Christine Zhang, under Power of Attorney dated June 19, 2025 from Daniel Borges	02/18/2026
	** 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.

FAQ

What insider transaction did IRM executive Daniel Borges report on this Form 4?

Daniel Borges reported an acquisition of 6,537 Performance Units tied to Iron Mountain common stock. The award reflects the Compensation Committee’s February 16, 2026 determination of the actual number earned under a performance grant originally made on March 1, 2023.

How many Iron Mountain (IRM) Performance Units does Daniel Borges hold after this Form 4?

After this transaction, Daniel Borges directly holds 9,152 Performance Units. These units stem from a performance-based equity grant and represent contingent rights to receive shares of Iron Mountain common stock, subject to satisfaction of the award’s vesting conditions.

What does each Performance Unit reported by IRM’s Daniel Borges represent?

Each Performance Unit represents a contingent right to receive one share of Iron Mountain Incorporated common stock. This means the units convert into shares only if the performance and vesting conditions under the March 1, 2023 grant are satisfied by the scheduled vesting date.

When were the Iron Mountain (IRM) Performance Units initially granted to Daniel Borges?

The Performance Units were initially granted to Daniel Borges on March 1, 2023. The current Form 4 reflects the Compensation Committee’s later determination, effective February 16, 2026, of the actual number of units awarded after the completion of the relevant performance period.

When will Daniel Borges’s Iron Mountain Performance Units vest according to this filing?

The Performance Units reported in this Form 4 are scheduled to fully vest on March 1, 2026. Vesting occurs under the original award terms, following completion of the performance period and the Compensation Committee’s determination of the final earned amount.

Did Daniel Borges buy or sell any Iron Mountain (IRM) shares in the open market?

The Form 4 shows a grant or award acquisition of 6,537 Performance Units, not an open-market stock purchase or sale. These units are part of equity compensation and represent contingent rights to receive common shares at vesting.