Iron Mountain director granted phantom stock units

Simons Doyle reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Simons Doyle reported acquisition or exercise transactions in this Form 4 filing.

IRON MOUNTAIN INC director Simons Doyle reported an award of 379.69 units of Phantom Stock on Common Stock, treated as a grant under the company’s Directors Deferred Compensation Plan. Each phantom share is economically equivalent to one share of common stock and will be settled in common shares after disability or when board service ends.

Following this award and related dividend-equivalent credits, the director now holds 45,873.936 phantom shares. The price used for the award is a weighted average of $103.52 per share, based on multiple transactions in a range from $103.45 to $103.54.

Insider Trade Summary

Grant/Award: 379.69 shares

Grant/Award 1 txn

Insider Simons Doyle

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	379.69	$103.52	$39K

Holdings After Transaction: Phantom Stock — 45,873.936 contracts (Direct)

Footnotes (3)

1. F1. 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. F2. These shares give effect to dividends paid on Common Stock as if reinvested in Phantom Shares.
3. F3. 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 $103.45 to $103.54, 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 (3).

Key Figures

Phantom stock granted: 379.69 units Weighted average price: $103.52 per share Price range: $103.45–$103.54 +2 more

5 metrics

Phantom stock granted 379.69 units Award to director on 2026-04-06

Weighted average price $103.52 per share Reference price for award

Price range $103.45–$103.54 Underlying common stock trade range

Phantom stock balance 45,873.936 units Total phantom shares after transaction

Conversion price $0.00 Phantom stock conversion or exercise price

Key Terms

Phantom Stock, Directors Deferred Compensation Plan, economic equivalent, weighted average price, +1 more

5 terms

Phantom Stock financial

"the shares of phantom stock (the "Phantom Shares") will become payable"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Directors Deferred Compensation Plan financial

"election to participate in the Iron Mountain Incorporated Directors Deferred Compensation Plan"

A directors deferred compensation plan lets a board member postpone receiving part or all of their cash fees or stock-based pay until a future date, often retirement, allowing taxes to be delayed and payouts to be structured over time. Investors care because these plans change a company’s future cash obligations and reveal how the board’s pay is aligned with long-term performance—like choosing to take a paycheck later to tie personal reward to the company’s future results.

economic equivalent financial

"Each Phantom Share is the economic equivalent of one share of Common Stock."

weighted average price financial

"The price reported in Column 8 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

dividends paid on Common Stock financial

"These shares give effect to dividends paid on Common Stock as if reinvested"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did IRM director Simons Doyle report?

Simons Doyle reported receiving 379.69 units of Phantom Stock linked to IRON MOUNTAIN INC common stock. This award is part of the company’s Directors Deferred Compensation Plan and represents compensation, not an open-market purchase or sale of existing shares.

What is the value basis of the new IRM phantom stock award?

The 379.69 phantom shares use a weighted average price of $103.52 per share. Footnotes state the underlying common stock reference price came from multiple trades between $103.45 and $103.54 per share, inclusive, on the transaction date.

How many IRM phantom shares does the director hold after this Form 4?

After this award, Simons Doyle holds 45,873.936 phantom shares tied to IRON MOUNTAIN INC common stock. This total includes the new 379.69-unit grant and prior balances, as well as adjustments reflecting dividends treated as if reinvested in phantom shares.

When will the IRM phantom stock become payable to the director?

Under the Directors Deferred Compensation Plan, the phantom stock becomes payable in IRON MOUNTAIN INC common shares after the director’s disability or when service as a director ends. Until then, the units track the economic value of common stock, including dividend equivalents.

Does the IRM phantom stock award involve actual common shares today?

The award records 379.69 phantom shares, not immediate delivery of common shares. Each phantom share is an economic equivalent of one common share and will be settled later in actual IRON MOUNTAIN INC stock after disability or board service cessation, per the plan terms.

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

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Accepted by SEC EDGAR 04/07/2026 - 04:15 PM Learn about SEC filing dates

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^*

Simons Doyle

(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)
04/06/2026

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

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
Phantom Stock	(1)	04/06/2026		A		379.69(2)		(1)	(1)	Common Stock	379.69	$103.52(3)	45,873.936	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 dividends paid on Common Stock 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 $103.45 to $103.54, 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 (3).

Remarks:

	/s/ Keely Stewart, under Power of Attorney dated April 17, 2023 from Doyle R. Simons	04/07/2026
	** 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)