H. Bailey - Jan 5, 2023 Form 4 Insider Report for IRON MOUNTAIN INC (IRM)

Role: Director
Signature: /s/ Elizabeth Tammaro, under Power of Attorney dated May 26, 2016, from Clarke H. Bailey
Stock symbol: IRM
Transactions as of: Jan 5, 2023
Transactions value $: $47,972
Form type: 4
Date filed: 1/9/2023, 03:40 PM
Previous filing: Oct 5, 2022
Next filing: Apr 7, 2023

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	Phantom Stock	Award	$48K	+967	+1.25%	$49.59	78.5K	Jan 5, 2023	Common Stock	967		Direct	F1, F2

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

Explanation of Responses:

Id	Content
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.
F2	These shares give effect to dividends paid on Common Stock as if reinvested in Phantom Shares.

Content

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.

These shares give effect to dividends paid on Common Stock as if reinvested in Phantom Shares.