Form 4: Iron Mountain EVP and CFO Barry Hytinen Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Barry Hytinen, EVP and CFO of Iron Mountain, reports transactions related to the vesting of performance units and restricted stock units.
Summary
- On March 1, 2024, Barry Hytinen, EVP and CFO of Iron Mountain, reported changes in beneficial ownership of Iron Mountain common stock.
- These changes are due to the vesting of performance units (PUs) and restricted stock units (RSUs) previously granted to Hytinen.
- 53,335 performance units vested, converting into an equal number of common stock shares.
- 10,894 restricted stock units from a 2021 grant vested, also converting into common stock.
- An additional 5,033 restricted stock units from a 2022 grant vested.
- 22,750 shares were disposed of to cover tax obligations at a price of $81.03.
- 5,022 shares were disposed of to cover tax obligations at a price of $81.03.
- 2,320 shares were disposed of to cover tax obligations at a price of $81.03.
- Following these transactions, Hytinen directly owns 119,367 shares of Iron Mountain common stock.
Sentiment
Score: 6
Explanation: The document is a routine filing related to executive compensation. The vesting of performance units suggests the company is meeting its goals, which is mildly positive.
Positives
- The vesting of performance units indicates that performance goals were met, which is a positive signal.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting schedules and equity grants are typical compensation components for executives in similar roles at comparable companies.
Stakeholder Impact
- The vesting of equity awards aligns management's interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/01/2021 | Initial grant date of performance units and restricted stock units. |
| 03/01/2022 | Initial grant date of additional restricted stock units. |
| 04/21/2023 | Date of Power of Attorney granted to Keely Stewart. |
| 02/22/2024 | Compensation Committee determined the actual award of PUs under the grant after completion of the relevant performance period. |
| 03/01/2024 | Date of transaction: Vesting of performance units and restricted stock units, and subsequent disposal of shares for tax obligations. |
| 03/05/2024 | Date of Form 4 filing. |
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