Mark Kidd - Feb 24, 2022 Form 4 Insider Report for IRON MOUNTAIN INC (IRM)

Role: EVP, GM Data Centers
Signature: /s/ Elizabeth Tammaro, under Power of Attorney dated February 13, 2018 from Mark Kidd
Stock symbol: IRM
Transactions as of: Feb 24, 2022
Transactions value $: -$296,067
Form type: 4
Date filed: 2/28/2022, 08:19 PM
Previous filing: Feb 24, 2022
Next filing: Mar 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IRM	Common Stock, par value $.01 per share	Options Exercise	$0	+14.7K	+61.78%	$0.00	38.5K	Feb 24, 2022	Direct	F1
transaction	IRM	Common Stock, par value $.01 per share	Tax liability	-$296K	-6.52K	-16.94%	$45.43	32K	Feb 24, 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	IRM	Performance Units	Award	$0	+14.7K		$0.00	14.7K	Feb 24, 2022	Common Stock	14.7K		Direct	F2, F3, F4
transaction	IRM	Performance Units	Options Exercise	$0	-14.7K	-100%	$0.00^*	0	Feb 24, 2022	Common Stock	14.7K		Direct	F2, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This acquisition is reported to reflect the full vesting of performance units ("PUs") previously granted to the Reporting Person on February 20, 2019. Effective February 24, 2022, the Compensation Committee of Iron Mountain Incorporated's Board of Directors (the "Compensation Committee") determined the actual award of PUs under the grant after completion of the relevant performance period, and the PUs vested in full on February 24, 2022.
F2	Each PU represents a contingent right to receive one share of Iron Mountain Incorporated common stock ("Common Stock").
F3	The PUs were initially granted to the Reporting Person on February 20, 2019. This Form 4 is being filed to reflect the determination by the Compensation Committee, effective as of February 24, 2022, of the actual award of PUs under the grant after completion of the relevant performance period.
F4	The PUs were initially granted to the Reporting Person on February 20, 2019 and fully vested on February 24, 2022.
F5	The PUs were initially granted to the Reporting Person on February 20, 2019. Effective February 24, 2022, the Compensation Committee determined the actual award of PUs under the grant after completion of the relevant performance period, and the PUs vested in full on February 24, 2022.