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

Role: President and CEO, Director
Signature: /s/ Elizabeth Tammaro, under Power of Attorney dated May 26, 2016, from William Meaney
Stock symbol: IRM
Transactions as of: Feb 24, 2022
Transactions value $: -$3,053,350
Form type: 4
Date filed: 2/28/2022, 08:22 PM
Previous filing: Feb 24, 2022
Next filing: Mar 1, 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	+152K	+60.38%	$0.00	403K	Feb 24, 2022	Direct	F1
transaction	IRM	Common Stock, par value $.01 per share	Tax liability	-$3.05M	-67.2K	-16.7%	$45.43	335K	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	+152K		$0.00	152K	Feb 24, 2022	Common Stock	152K		Direct	F2, F3, F4
transaction	IRM	Performance Units	Options Exercise	$0	-152K	-100%	$0.00^*	0	Feb 24, 2022	Common Stock	152K		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.