Deborah Marson - Feb 23, 2023 Form 4 Insider Report for IRON MOUNTAIN INC (IRM)

Role: EVP, General Counsel, Sec.
Signature: /s/ Elizabeth Tammaro, under Power of Attorney dated December 7, 2016, from Deborah Marson
Stock symbol: IRM
Transactions as of: Feb 23, 2023
Transactions value $: -$359,347
Form type: 4
Date filed: 2/27/2023, 05:14 PM
Previous filing: Feb 23, 2023
Next filing: Mar 2, 2023

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	+18K	+37.41%	$0.00	66.3K	Feb 23, 2023	Direct	F1
transaction	IRM	Common Stock, par value $.01 per share	Tax liability	-$301K	-5.71K	-8.61%	$52.77	60.5K	Feb 23, 2023	Direct
transaction	IRM	Common Stock, par value $.01 per share	Sale	-$58.2K	-1.13K	-1.86%	$51.77	59.4K	Feb 24, 2023	Direct	F2

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	+18K		$0.00	18K	Feb 23, 2023	Common Stock	18K		Direct	F3, F4, F5
transaction	IRM	Performance Units	Options Exercise	$0	-18K	-100%	$0.00^*	0	Feb 23, 2023	Common Stock	18K		Direct	F3, F6

* 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 19, 2020. Effective February 23, 2023, 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 23, 2023.
F2	This transaction was effected pursuant to a 10b5-1 trading plan which was approved and became effective as of May 11, 2022.
F3	Each PU represents a contingent right to receive one share of Iron Mountain Incorporated common stock ("Common Stock").
F4	The PUs were initially granted to the Reporting Person on February 19, 2020. This Form 4 is being filed to reflect the determination by the Compensation Committee, effective as of February 23, 2023, of the actual award of PUs under the grant after completion of the relevant performance period.
F5	The PUs were initially granted to the Reporting Person on February 19, 2020 and fully vested on February 23, 2023.
F6	The PUs were initially granted to the Reporting Person on February 19, 2020. Effective February 23, 2023, 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 23, 2023.