Form 4: Iron Mountain Officer Reports Equity Vesting & Tax Withholding

Iron Mountain's SVP & Chief Accounting Officer, Daniel Borges, reported the vesting of performance and restricted stock units and associated tax withholdings on March 1, 2026.

Summary

• Daniel Borges, SVP & Chief Accounting Officer of Iron Mountain Inc. (IRM), reported multiple equity transactions on March 1, 2026.
• Acquired 9,152 shares of common stock due to the full vesting of Performance Units (PUs) previously granted on March 1, 2023, following a Compensation Committee determination on February 16, 2026.
• Disposed of 3,106 shares of common stock at $108.33 per share to satisfy income tax withholding obligations related to the net settlement of the vested PUs.
• Acquired 713 shares of common stock due to the full vesting of Restricted Stock Units (RSUs) previously granted on March 1, 2023.
• Disposed of 327 shares of common stock at $108.33 per share for income tax withholding related to the net settlement of these RSUs.
• Acquired 463 shares of common stock due to the partial vesting of RSUs previously granted on March 1, 2024.
• Disposed of 212 shares of common stock at $108.33 per share for income tax withholding related to the net settlement of these RSUs.
• Acquired 402 shares of common stock due to the partial vesting of RSUs previously granted on March 1, 2025.
• Disposed of 184 shares of common stock at $108.33 per share for income tax withholding related to the net settlement of these RSUs.
• Received a new grant of 1,104 Restricted Stock Units (RSUs) on March 1, 2026, which will vest in three substantially equal annual installments.
• Following these transactions, Daniel Borges directly beneficially owns 7,189 shares of Common Stock.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a routine and generally positive event for the executive, reflecting the successful vesting of equity awards and ongoing compensation. It has a neutral impact on the company's overall sentiment as it's a standard compensation mechanism.

Positives

• Daniel Borges received 9,152 shares from the full vesting of Performance Units, indicating successful achievement of performance targets.
• An additional 713 shares vested from a 2023 RSU grant, 463 shares from a 2024 RSU grant, and 402 shares from a 2025 RSU grant, representing continued equity compensation.
• A new grant of 1,104 Restricted Stock Units was awarded on March 1, 2026, providing future equity incentives.

Negatives

• A total of 3,106 shares, 327 shares, 212 shares, and 184 shares (totaling 3,829 shares) were disposed of at $108.33 per share to cover income tax withholding obligations, reducing direct share ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that equity compensation, including Performance Units and Restricted Stock Units, along with subsequent tax-related dispositions, are standard practices across various industries for executive remuneration and retention. This filing reflects a routine aspect of executive compensation plans.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine compensation events. The slight increase in shares outstanding from vesting is offset by tax withholdings.
• Employees: Reflects standard executive compensation practices, potentially signaling stability in compensation structure.
• Management: Daniel Borges's equity stake is adjusted, aligning his interests with long-term company performance.

Next Steps

• The newly granted 1,104 Restricted Stock Units will vest in three substantially equal annual installments, beginning on the first anniversary of the March 1, 2026 grant date.
• Future vesting events for other outstanding Restricted Stock Units granted in 2024 and 2025 will occur as per their respective schedules.

Key Dates

Recommendation

This Form 4 details routine insider transactions related to executive compensation, specifically the vesting of equity awards and subsequent tax withholdings. Such events are expected and do not typically provide new material information that would alter an investment thesis for Iron Mountain Inc. Therefore, a 'hold' recommendation is appropriate as this filing alone does not present a compelling reason to buy or sell the stock.

Keywords

Iron Mountain, IRM, Form 4, Insider Transaction, Equity Compensation, Stock Vesting, Restricted Stock Units, Performance Units, Daniel Borges, Tax Withholding