Form 4: Iron Mountain Director Acquires Phantom Stock Through Deferred Compensation Plan

Iron Mountain director Doyle Simons acquired phantom stock equivalent to 330.729 shares of common stock through the company's deferred compensation plan.

Summary

• Doyle Simons, a director at Iron Mountain, acquired 330.729 shares of phantom stock on January 3, 2025.
• The phantom stock was acquired through the Iron Mountain Incorporated Directors Deferred Compensation Plan.
• These phantom shares are economically equivalent to common stock and will be payable in common stock upon disability or cessation of service as a director.
• The acquisition reflects the reinvestment of Simons' quarterly cash compensation for board service.
• The price of the underlying common stock ranged from $105.744 to $105.969 per share, with a weighted average price of $105.827.
• Following the transaction, Simons beneficially owns 40,336.948 shares of common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally neutral to positive. It indicates continued alignment of interests between the director and the company.

Positives

• The acquisition of phantom stock demonstrates the director's continued investment in the company.
• The deferred compensation plan aligns director interests with long-term company performance.

Future Outlook

The phantom shares will be converted to common stock upon the director's disability or cessation of service.

Industry Context

This is a standard transaction for directors participating in deferred compensation plans, common in publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans are a common practice for directors in publicly traded companies, such as Iron Mountain, to align their interests with shareholders.
• Similar plans are often seen at companies like Digital Realty Trust (DLR) and Equinix (EQIX), which also operate in the data storage and real estate sectors.
• The use of phantom stock is a typical method for deferring compensation, allowing directors to benefit from long-term stock appreciation without immediate tax implications.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director interests with long-term company performance.

Key Dates

Keywords

phantom stock, deferred compensation, director, Iron Mountain, IRM, insider trading, Form 4, beneficial ownership