Iron Mountain (NYSE: IRM) director reports new phantom stock awards

Q: What does Iron Mountain (IRM) director Theodore R. Samuels II report in this Form 4?

The filing shows that Theodore R. Samuels II , a director of Iron Mountain Incorporated , acquired additional phantom stock units as part of his deferred board compensation and dividend reinvestment.

Q: How many phantom stock units did the IRM director acquire on January 6, 2026?

On January 6, 2026 , he acquired 425.125 phantom stock units at a weighted average price of $85.269 and 107.445 phantom stock units at a weighted average price of $84.625 .

Q: What is phantom stock in the context of Iron Mountain (IRM) director compensation?

Phantom stock represents units that are the economic equivalent of one share of Iron Mountain common stock , to be paid out in common shares after the director’s disability or cessation of service.

Q: Does this Iron Mountain (IRM) Form 4 indicate a stock sale by the director?

No. The reported transactions have a code A , indicating acquisitions of phantom stock units related to deferred compensation and dividend reinvestment, not open-market sales.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Iron Mountain Incorporated director Theodore R. Samuels II reported additional deferred equity-based compensation in the form of phantom stock units. On January 6, 2026, he acquired 425.125 phantom stock units at a weighted average price of $85.269 per unit and 107.445 phantom stock units at a weighted average price of $84.625 per unit. These entries reflect his quarterly cash board fees and dividends on common stock treated as if reinvested into phantom stock under the company’s Directors Deferred Compensation Plan. Each phantom stock unit is economically equivalent to one share of Iron Mountain common stock and will be settled in common shares after his disability or when his board service ends, bringing his reported phantom stock balance to 11,056.26 units held directly.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Samuels Theodore R. II

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	425.125	$85.269	$36K
Grant/Award	Phantom Stock	107.445	$84.625	$9K

Holdings After Transaction: Phantom Stock — 10,948.815 shares (Direct)

Footnotes (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. 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. The price reported in Column 8 is a weighted average price. These shares of Common Stock were acquired in multiple transactions at prices ranging from $85.254 to $85.279, 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 acquired at each separate price within the ranges set forth in this footnote (3). These shares give effect to dividends paid on Common Stock as if reinvested in Phantom Shares. The price reported in Column 8 is a weighted average price. These shares of Common Stock were acquired in multiple transactions at prices ranging from $84.304 to $84.979, 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 acquired at each separate price within the ranges set forth in this footnote (5).

Form 4 Insider Transactions: What Each Field Means →

01/08/2026 - 05:29 PM

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

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
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/06/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	⁽¹⁾	01/06/2026		A		425.125⁽²⁾		⁽¹⁾	⁽¹⁾	Common Stock	425.125	$85.269⁽³⁾	10,948.815	D
Phantom Stock	⁽¹⁾	01/06/2026		A		107.445⁽⁴⁾		⁽¹⁾	⁽¹⁾	Common Stock	107.445	$84.625⁽⁵⁾	11,056.26	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.

3. The price reported in Column 8 is a weighted average price. These shares of Common Stock were acquired in multiple transactions at prices ranging from $85.254 to $85.279, 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 acquired at each separate price within the ranges set forth in this footnote (3).

4. These shares give effect to dividends paid on Common Stock as if reinvested in Phantom Shares.

5. The price reported in Column 8 is a weighted average price. These shares of Common Stock were acquired in multiple transactions at prices ranging from $84.304 to $84.979, 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 acquired at each separate price within the ranges set forth in this footnote (5).

Remarks:

	/s/ Keely Stewart, under Power of Attorney dated July 6, 2023 from Theodore R Samuels	01/08/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What does Iron Mountain (IRM) director Theodore R. Samuels II report in this Form 4?

The filing shows that Theodore R. Samuels II, a director of Iron Mountain Incorporated, acquired additional phantom stock units as part of his deferred board compensation and dividend reinvestment.

How many phantom stock units did the IRM director acquire on January 6, 2026?

On January 6, 2026, he acquired 425.125 phantom stock units at a weighted average price of $85.269 and 107.445 phantom stock units at a weighted average price of $84.625.

What is the total phantom stock balance reported after these transactions for IRM?

After the reported transactions, the director beneficially owns 11,056.26 phantom stock units, all reported as held directly.

What is phantom stock in the context of Iron Mountain (IRM) director compensation?

Phantom stock represents units that are the economic equivalent of one share of Iron Mountain common stock, to be paid out in common shares after the director’s disability or cessation of service.

How are the IRM director’s fees and dividends treated in this Form 4?

The filing explains that the new phantom stock units reflect the director’s quarterly cash compensation for board service and dividends on common stock, each treated as if reinvested into phantom stock under the deferred compensation plan.

Does this Iron Mountain (IRM) Form 4 indicate a stock sale by the director?

No. The reported transactions have a code A, indicating acquisitions of phantom stock units related to deferred compensation and dividend reinvestment, not open-market sales.