Iron Mountain (IRM) EVP Mithu Bhargava granted new performance unit awards

Rhea-AI Filing Summary

Bhargava Mithu reported acquisition or exercise transactions in this Form 4 filing.

Iron Mountain Incorporated executive Mithu Bhargava received final performance-based equity awards. The Form 4 shows two grants of Performance Units, one for 37,085 units and another for 43,652 units, each representing a contingent right to receive one share of common stock at no cash cost.

The awards relate to grants originally made in 2023, with the Compensation Committee determining the actual number of units earned effective February 16, 2026 after completion of the performance period. According to the footnotes, these Performance Units will fully vest on March 1, 2026, aligning Bhargava’s compensation with longer-term performance.

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^*

Bhargava Mithu

(Last) (First) (Middle)

C/O IRON MOUNTAIN INCORPORATED

85 NEW HAMPSHIRE AVE, 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)
	EVP, GM Digital Business Unit

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		37,085(2)		(3)	(3)	Common Stock, par value $.01 per share	37,085	$0	51,919	D
Performance Units	(1)	02/16/2026		A		43,652(4)		(5)	(5)	Common Stock, par value $.01 per share	43,652	$0	61,113	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.

4. The PUs were initially granted to the Reporting Person on July 3, 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.

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

Remarks:

	/s/ Christine Zhang, under Power of Attorney dated November 19, 2024, from Mithu Bhargava	02/18/2026
	** 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 transaction did IRM executive Mithu Bhargava report on this Form 4?

Mithu Bhargava reported receiving two grants of Performance Units as equity compensation. These awards represent contingent rights to Iron Mountain common stock, determined by the Compensation Committee after the completion of a performance period tied to earlier 2023 grants.

How many Performance Units did Mithu Bhargava acquire in the latest IRM filing?

The filing shows awards of 37,085 Performance Units and 43,652 Performance Units. Each Performance Unit corresponds to a contingent right to receive one share of Iron Mountain common stock, subject to vesting and the conditions set out in the original 2023 grant agreements.

What does each Iron Mountain Performance Unit represent for Mithu Bhargava?

Each Performance Unit represents a contingent right to receive one share of Iron Mountain common stock. The actual delivery of shares depends on meeting performance criteria and vesting conditions described in the grant, rather than involving any cash purchase by the executive.

When were the underlying Iron Mountain Performance Units originally granted to Mithu Bhargava?

According to the footnotes, one set of Performance Units was initially granted on March 1, 2023, and another on July 3, 2023. The current Form 4 reflects the Compensation Committee’s determination of the final awards after the relevant performance periods concluded.

When will Mithu Bhargava’s Iron Mountain Performance Units fully vest?

The footnotes state that both sets of Performance Units will fully vest on March 1, 2026. Full vesting means the contingent rights to Iron Mountain common stock become earned at that date, assuming all performance and service conditions have been satisfied under the plan.

Did Mithu Bhargava pay cash for the Iron Mountain Performance Units reported?

No cash price per unit is shown; the transactions are reported at a price of 0.0000 per unit. This indicates the Performance Units were granted as compensation awards rather than purchased in the open market, consistent with typical executive equity incentive structures.