Matlock Robin 4

What Happened

• Robin Matlock, a director of Iron Mountain Inc. (IRM), reported the exercise/conversion of 10.189 phantom shares into common stock on 2026-01-21. The Form 4 shows both an acquisition and a simultaneous disposition of 10.189 shares, each reported at $0.00. This activity stems from the company’s Directors Deferred Compensation Plan and is recorded as a derivative conversion (transaction code M), not an open-market buy or sell.

Key Details

• Transaction date: 2026-01-21; transaction code: M (exercise/conversion of derivative).
• Shares converted/acquired: 10.189 common shares; shares disposed: 10.189 — both reported at $0.00 on the Form 4.
• Footnotes: (F1) Conversion stems from participation in the Iron Mountain Directors Deferred Compensation Plan; each phantom share equals one share of common stock. (F2) Settlement of the phantom shares is in common stock.
• Ownership after transaction: not specified in the provided filing.
• Timeliness: filing dated 2026-01-22 for a 2026-01-21 transaction (no late‑filing flag indicated).

Context

• This was a derivative conversion under a director deferred compensation plan (not an open-market trade). The Form 4 shows conversion and disposition at $0.00 because the shares derive from a non-cash phantom stock settlement set by the plan terms. Such plan-driven conversions are generally routine and do not necessarily indicate the director’s market view.