Form 4: Iron Mountain Executive Greg McIntosh Reports Stock Transactions Following Vesting of Performance and Restricted Stock Units
SEC Form 4
Greg McIntosh, EVP, CCO & GM, Global RM at Iron Mountain, reports the acquisition and disposal of Iron Mountain common stock following the vesting of performance units and restricted stock units on March 1, 2024.
Summary
- On March 1, 2024, Greg McIntosh, an executive at Iron Mountain, reported transactions involving the company's common stock.
- These transactions are related to the vesting of performance units (PUs) and restricted stock units (RSUs) previously granted to McIntosh.
- Specifically, 21,334 performance units vested, converting into an equal number of shares of common stock.
- Additionally, 3,935 RSUs from a 2021 grant and 3,104 RSUs from a 2022 grant also vested.
- Concurrently, McIntosh disposed of 11,420 shares at a price of $81.03 and 2,106 shares at a price of $81.03 and 1,661 shares at a price of $81.03 to cover tax obligations associated with the vesting.
- Following these transactions, McIntosh directly owns 28,107 shares of Iron Mountain common stock and 3,104 derivative securities.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Positives
- The vesting of performance units and restricted stock units indicates that McIntosh has met certain performance criteria or time-based vesting requirements set by the company.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect the normal course of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 2021-03-01 | Initial grant date of performance units and restricted stock units. |
| 2022-03-01 | Initial grant date of restricted stock units. |
| 2023-04-17 | Date of Power of Attorney granted to Deborah Marson, Keely Stewart and Luke Cummiskey. |
| 2024-02-22 | Compensation Committee determined the actual award of PUs under the grant after completion of the relevant performance period. |
| 2024-03-01 | Date of reported transactions: vesting of performance units and restricted stock units, and subsequent sale of shares to cover tax obligations. |
| 2024-03-05 | Date of signature of the Form 4 filing. |
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