Iron Mountain (NYSE: IRM) director sells 757 shares under Rule 10b5-1 plan

Rhea-AI Filing Summary

IRON MOUNTAIN INC director Walter C. Rakowich reported an open-market sale of 757 shares of common stock at $124.45 per share. The transaction occurred on May 20, 2026 and was executed under a Rule 10b5-1 trading plan adopted on June 12, 2024.

After the sale, he held 1,135 shares directly and 23,865 shares indirectly through the Rakowich Living Trust, where he is the sole trustee. This filing reflects a relatively small, pre-planned sale compared with his total reported holdings.

Insights

Insider trading analyst

Pre-planned, small open-market sale with substantial holdings retained.

Director Walter C. Rakowich sold 757 Iron Mountain common shares at $124.45 each on May 20, 2026. The filing notes this was done under a Rule 10b5-1 trading plan adopted on June 12, 2024, indicating the trade was pre-scheduled.

Following the sale, he holds 1,135 shares directly and 23,865 shares indirectly via the Rakowich Living Trust where he is sole trustee. Given the modest size relative to these holdings and the pre-planned nature, this appears to be a routine liquidity transaction rather than a strong directional signal. No derivative positions are reported as remaining in this filing.

Insider Trade Summary 10b5-1

Net Seller: 757 shares

Net Sell 2 txns

Insider RAKOWICH WALTER C

Role Director

Sold 757 shs ($94K)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $.01 per share	757	$124.45	$94K
holding	Common Stock, par value $.01 per share	--	--	--

Holdings After Transaction: Common Stock, par value $.01 per share — 1,135 shares (Direct); Common Stock, par value $.01 per share — 23,865 shares (Indirect, By Rakowich Living Trust)

Footnotes (2)

1. F1. The transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 12, 2024.
2. F2. Shares held of record by Rakowich Living Trust. The reporting person is the sole trustee.

Key Figures

Shares sold: 757 shares Sale price: $124.45 per share Direct holdings after sale: 1,135 shares +2 more

5 metrics

Shares sold 757 shares Open-market sale on May 20, 2026

Sale price $124.45 per share Common Stock, par value $.01 per share

Direct holdings after sale 1,135 shares Shares held directly after May 20, 2026 transaction

Indirect trust holdings 23,865 shares Held by Rakowich Living Trust; reporting person sole trustee

10b5-1 plan adoption date June 12, 2024 Rule 10b5-1 trading plan governing the sale

Key Terms

Rule 10b5-1 trading plan, open-market sale, Rakowich Living Trust

3 terms

Rule 10b5-1 trading plan financial

"The transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 12, 2024."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Rakowich Living Trust financial

"Shares held of record by Rakowich Living Trust. The reporting person is the sole trustee."

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 05/21/2026 - 05:55 PM Learn about SEC filing dates

FAQ

What insider transaction did IRON MOUNTAIN INC (IRM) disclose for Walter C. Rakowich?

IRON MOUNTAIN INC disclosed that director Walter C. Rakowich sold 757 common shares in an open-market transaction at $124.45 per share on May 20, 2026. The sale was reported on Form 4 and reflects a relatively small portion of his total reported holdings.

Was the IRM insider sale by Walter C. Rakowich made under a Rule 10b5-1 plan?

Yes. The filing states the transaction was made under a Rule 10b5-1 trading plan adopted on June 12, 2024. Such plans pre-schedule trades, which can make the timing less indicative of the insider’s short-term view of the company’s stock.

At what price did Walter C. Rakowich sell IRM shares and how many?

Walter C. Rakowich sold 757 IRON MOUNTAIN INC common shares at $124.45 per share. This open-market sale on May 20, 2026, was reported on Form 4 and is categorized as a non-derivative transaction in the company’s common stock.

How many IRON MOUNTAIN INC shares does Walter C. Rakowich hold after this Form 4 transaction?

After the reported sale, Walter C. Rakowich holds 1,135 IRON MOUNTAIN INC shares directly. He also has 23,865 shares held indirectly through the Rakowich Living Trust, where he is the sole trustee, according to the Form 4 footnotes.

Does Walter C. Rakowich have indirect ownership in IRON MOUNTAIN INC via a trust?

Yes. The filing notes 23,865 IRON MOUNTAIN INC shares held of record by the Rakowich Living Trust. A footnote explains that the reporting person is the sole trustee of this trust, indicating indirect ownership in addition to his directly held shares.

Did the IRM Form 4 report any option exercises or derivative transactions for Walter C. Rakowich?

No. The Form 4 summarizes only an open-market sale of 757 common shares and a holding entry for trust-owned shares. The derivative transaction count is zero, and no options or other derivative securities are listed as exercised or outstanding in this filing.

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).

X

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^*

RAKOWICH WALTER C

(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)
05/20/2026

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
Common Stock, par value $.01 per share	05/20/2026		S(1)		757	D	$124.45	1,135	D
Common Stock, par value $.01 per share								23,865	I	By Rakowich Living Trust(2)

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

Explanation of Responses:

1. The transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 12, 2024.

2. Shares held of record by Rakowich Living Trust. The reporting person is the sole trustee.

Remarks:

	/s/ Keely Stewart, under Power of Attorney dated April 17, 2023, from Walter C. Rakowich	05/21/2026
	** 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)