Samuels Theodore R. II 4

What Happened

• Theodore R. Samuels II, a director of Iron Mountain Inc. (IRM), was granted 1,892 phantom shares (derivative award) on May 7, 2026. The reported acquisition price is $0.00, and the award is reported as a derivative holding rather than an open-market purchase or sale. This reflects compensation/deferral rather than a purchase or sale of stock.

Key Details

• Transaction date: 2026-05-07; Filing date: 2026-05-11 (filed within the typical two-business-day window).
• Transaction type/code: Award/Grant (A) — derivative instrument (Phantom Shares).
• Shares involved: 1,892 Phantom Shares; reported acquisition price $0.00 (total reported cash value $0).
• Shares owned after transaction: Not specified in this Form 4.
• Footnotes:
  • F1: Phantom Shares are payable in shares of common stock following the reporting person’s disability or cessation of service; each Phantom Share equals one share economically.
  • F2: These Phantom Shares consist of RSUs granted on May 7, 2026 that vested in full on the grant date; the reporting person elected to defer receipt under the Directors Deferred Compensation Plan (DDCP), so vested RSUs were converted to Phantom Shares.
• No 10b5-1 plan, tax-withholding sale, or immediate disposition is reported.

Context

• This is a compensation-related grant (not a purchase or sale). Phantom Shares are a deferred, derivative form of equity tied to future settlement conditions (disability or end of director service); they do not represent immediate open-market buying or selling. For retail investors, such awards are routine director compensation and do not by themselves signal a buying or selling decision by the insider.