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

Theodore R. Samuels II, a director at Iron Mountain Incorporated, acquired phantom stock units through the company's Directors Deferred Compensation Plan.

Summary

• On July 5, 2024, Theodore R. Samuels II, a director of Iron Mountain Incorporated, acquired 42.212 phantom stock units.
• This acquisition was made through the Iron Mountain Incorporated Directors Deferred Compensation Plan.
• These shares give effect to dividends paid on Common Stock as if reinvested in Phantom Shares.
• The reporting person also sold shares of common stock in multiple transactions at prices ranging from $92.129 to $92.459, inclusive.
• Following the reported transactions, Samuels beneficially owns 3,776.869 shares of Iron Mountain common stock.
• The phantom stock will become payable in shares of Iron Mountain common stock following the director's disability or cessation of service.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The director's participation in the deferred compensation plan suggests confidence in the company's future.

Positives

• The acquisition of phantom stock units reflects the director's continued investment in the company's future.
• The Directors Deferred Compensation Plan allows directors to align their interests with those of shareholders.

Future Outlook

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

Industry Context

Directors' compensation plans, including deferred stock options, are common in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Deferred compensation plans are a standard practice among publicly traded companies, including competitors of Iron Mountain, such as Equinix and Digital Realty Trust.
• These plans often involve the granting of phantom stock or stock options that vest over time or upon certain events, such as retirement or disability.
• The specific terms of these plans, including the vesting schedule and conversion ratio, can vary widely depending on the company and its compensation policies.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It reinforces the alignment of director interests with shareholder value through equity-based compensation.

Key Dates