Bhargava Mithu 4

What Happened
Mithu Bhargava, Executive Vice President and GM of Iron Mountain's Digital Business Unit, was awarded two performance unit (PU) grants totaling 80,737 PUs (37,085 and 43,652) effective February 16, 2026. Each PU represents a contingent right to one share of Iron Mountain common stock; the units were recorded at $0 (award/derivative transaction code A) and will fully vest on March 1, 2026. The awards reflect the Compensation Committee’s determination following the relevant performance periods.

Key Details

• Transaction date: February 16, 2026; Form 4 filed February 18, 2026 (timely).
• Grant type/code: Award/Grant (A); price reported $0 because these are performance-contingent units (derivative).
• Amounts: 37,085 PUs and 43,652 PUs, total 80,737 PUs.
• Vesting/delivery: PUs will fully vest on March 1, 2026 (per footnotes).
• Footnotes: F1–F5 note that each PU equals a contingent right to one share, grants were originally made on Mar 1, 2023 and Jul 3, 2023, and this filing reflects the Compensation Committee’s post-performance determination effective Feb 16, 2026.
• Shares owned after transaction: Not specified in the Form 4.
• Filing timeliness: Filed within the required period (not reported as late).

Context
Performance units are compensation awards tied to company performance and time-based vesting; they do not represent immediate share ownership until any performance conditions are satisfied and the units vest. This Form 4 documents the committee’s determination of the award amounts after the performance periods — it is informational about compensation, not an open-market purchase or sale.