H. Bailey - May 9, 2023 Form 4 Insider Report for IRON MOUNTAIN INC (IRM)

Role: Director
Signature: /s/ Keely Stewart, under Power of Attorney dated April 17, 2023 from Clarke Bailey
Stock symbol: IRM
Transactions as of: May 9, 2023
Transactions value $: $30
Form type: 4
Date filed: 5/10/2023, 09:19 PM
Previous filing: Apr 7, 2023
Next filing: Jul 10, 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	$30.50	+3.05K	+3.84%	$0.01^*	82.5K	May 9, 2023	Common Stock	3.05K		Direct	F1

* 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 with respect to certain restricted stock units ("RSUs") received on May 9, 2023, which RSUs vest on the grant date, 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.

Content

Pursuant to the Reporting Person's election to participate in the Iron Mountain Incorporated Directors Deferred Compensation Plan with respect to certain restricted stock units ("RSUs") received on May 9, 2023, which RSUs vest on the grant date, 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.