Iron Mountain (NYSE: IRM) SVP Borges logs equity vesting and new RSU grant

Rhea-AI Filing Summary

Iron Mountain senior vice president and chief accounting officer Daniel Borges reported multiple equity transactions tied to incentive awards. Performance units covering 9,152 shares fully vested and converted into common stock, and restricted stock units granted in 2023–2025 partially or fully vested, adding several hundred more shares. On the same date, he received a new grant of 1,104 restricted stock units that vest over three years. Shares totaling 3,106, 327, 212 and 184 were withheld at $108.33 per share to cover income tax obligations on these vestings, and are specifically described as not representing open‑market sales.

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)
03/01/2026

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
Common Stock, par value $.01 per share	03/01/2026		M		9,152(1)	A	$0	9,440	D
Common Stock, par value $.01 per share	03/01/2026		F		3,106(2)	D	$108.33	6,334	D
Common Stock, par value $.01 per share	03/01/2026		M		713(3)	A	$0	7,047	D
Common Stock, par value $.01 per share	03/01/2026		F		327(4)	D	$108.33	6,720	D
Common Stock, par value $.01 per share	03/01/2026		M		463(5)	A	$0	7,183	D
Common Stock, par value $.01 per share	03/01/2026		F		212(4)	D	$108.33	6,971	D
Common Stock, par value $.01 per share	03/01/2026		M		402(6)	A	$0	7,373	D
Common Stock, par value $.01 per share	03/01/2026		F		184(4)	D	$108.33	7,189	D

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	(7)	03/01/2026		M			9,152	(8)	(8)	Common Stock, par value $.01 per share	9,152	$0	0	D
Restricted Stock Units	(9)	03/01/2026		M			713	(10)	(10)	Common Stock, par value $.01 per share	713	$0	0	D
Restricted Stock Units	(9)	03/01/2026		M			463	(11)	(11)	Common Stock, par value $.01 per share	463	$0	463	D
Restricted Stock Units	(9)	03/01/2026		M			402	(12)	(12)	Common Stock, par value $.01 per share	402	$0	805	D
Restricted Stock Units	(9)	03/01/2026		A		1,104		(13)	(13)	Common Stock, par value $.01 per share	1,104	$0	1,104	D

Explanation of Responses:

1. This acquisition is reported to reflect the full vesting of performance units ("PUs") previously granted to the Reporting Person on March 1, 2023. Effective February 16, 2026, the Compensation Committee of Iron Mountain Incorporated's Board of Directors determined the actual award of PUs under the grant after completion of the relevant performance period, and the PUs fully vested on March 1, 2026.

2. Represents the number of shares of Common Stock that have been withheld by the Issuer to satisfy its income tax withholding obligation in connection with the net settlement of the PUs and does not represent a sale.

3. This acquisition is reported to reflect the full vesting of restricted stock units ("RSUs") previously granted to the Reporting Person on March 1, 2023.

4. Represents the number of shares of Common Stock that have been withheld by the Issuer to satisfy its income tax withholding obligation in connection with the net settlement of the RSUs and does not represent a sale.

5. This acquisition is reported to reflect the partial vesting of RSUs previously granted to the Reporting Person on March 1, 2024.

6. This acquisition is reported to reflect the partial vesting of RSUs previously granted to the Reporting Person on March 1, 2025.

7. Each PU represents a contingent right to receive one share of Common Stock.

8. The PUs were initially granted to the Reporting Person on March 1, 2023. Effective as of February 16, 2026, the Compensation Committee determined the actual award of PUs under the grant after completion of the relevant performance period, and the PUs fully vested on March 1, 2026.

9. Each RSU represents a contingent right to receive one share of Common Stock.

10. The RSUs, representing a contingent right to receive a total of 2,139 shares of Common Stock, were granted to the Reporting Person on March 1, 2023 and vest in three substantially equal annual installments beginning on the first anniversary of the grant date.

11. The RSUs, representing a contingent right to receive a total of 1,388 shares of Common Stock, were granted to the Reporting Person on March 1, 2024 and vest in three substantially equal annual installments beginning on the first anniversary of the grant date.

12. The RSUs, representing a contingent right to receive a total of 1,207 shares of Common Stock, were granted to the Reporting Person on March 1, 2025 and vest in three substantially equal annual installments beginning on the first anniversary of the grant date.

13. The RSUs, representing a contingent right to receive a total of 1,104 shares of Common Stock, were granted to the Reporting Person on March 1, 2026 and vest in three substantially equal annual installments beginning on the first anniversary of the grant date.

Remarks:

	/s/ Christine Zhang, under Power of Attorney dated June 19, 2025 from Daniel Borges	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did IRM executive Daniel Borges report on March 1, 2026?

Daniel Borges reported vesting and conversion of performance units and restricted stock units into Iron Mountain common stock, plus a new 1,104-unit RSU grant. Some shares were withheld by the company to cover tax obligations, which the disclosure notes do not constitute open-market sales.

How many Iron Mountain performance units vested for IRM executive Daniel Borges?

Performance units covering 9,152 Iron Mountain shares fully vested for Daniel Borges. These units were originally granted on March 1, 2023, with the actual award determined on February 16, 2026 after the performance period, and converted one-for-one into common stock upon vesting.

What restricted stock unit activity did IRM report for Daniel Borges?

Iron Mountain disclosed full vesting of RSUs granted March 1, 2023 and partial vesting of RSUs granted in 2024 and 2025 for Daniel Borges. Each RSU converts into one common share as installments vest, reflecting ongoing equity compensation tied to multi-year vesting schedules.

Did Daniel Borges receive any new Iron Mountain RSU grant in 2026?

Yes. Daniel Borges received a new Iron Mountain RSU grant representing 1,104 shares on March 1, 2026. These restricted stock units vest in three substantially equal annual installments beginning on the first anniversary of the grant date, continuing his long-term, stock-based incentive compensation.

Were any of Daniel Borges’s reported IRM share disposals open-market sales?

The filing states the reported F-code disposals were shares withheld by Iron Mountain to satisfy income tax withholding obligations. Footnotes clarify these withheld shares related to net settlement of vested awards and explicitly note they do not represent open-market sales transactions.

At what price were Iron Mountain shares withheld for Daniel Borges’s tax obligations?

Iron Mountain withheld several blocks of common stock from Daniel Borges at a price of $108.33 per share. These F-code transactions were used to satisfy income tax withholding obligations tied to vesting of performance units and RSUs, rather than discretionary market sales by the executive.