Samuels Theodore R. II 4

What Happened
Theodore R. Samuels II, a director of Iron Mountain Incorporated, received 310.86 phantom shares (derivative award) on 2026-07-02. The award is reported at an equivalent price of $116.61 per share, for a total economic value of about $36,249. This was an award under the company’s director deferred compensation arrangement (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-07-02; filing date: 2026-07-06 (timely filing).
• Transaction type/code: A — Grant/award (derivative phantom stock).
• Shares awarded: 310.86 Phantom Shares; reported equivalent price: $116.61; total value ≈ $36,249.
• Shares owned after transaction: Not reported on the Form 4.
• Footnote F1: Phantom Shares will be payable in common stock upon the reporting person’s disability or cessation of service as a director; each Phantom Share is the economic equivalent of one common share.
• Footnote F2: These Phantom Shares reflect the reporting person’s quarterly cash board compensation being treated as reinvested into Phantom Shares.

Context
This was a routine deferred-compensation award to a board member (phantom stock), commonly used to defer director fees and align pay with shareholder outcomes. As a derivative award, it does not represent an immediate open-market purchase or sale of common stock and will convert to actual shares only under the conditions described in the filing.