IRON MOUNTAIN INC — Director's Dealing 2011

May 11, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IRON MOUNTAIN INC (IRM)
CIK: 0001020569
Period of Report: 2011-05-09

Reporting Person: MCKEON BRIAN P (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-09	Common Stock	M	10845	$27.665	Acquired	17249	Direct
2011-05-09	Common Stock	M	99192	$27.665	Acquired	116441	Direct
2011-05-09	Common Stock	M	43375	$27.665	Acquired	159816	Direct
2011-05-09	Common Stock	S	153412	$32.2548	Disposed	6404	Direct
2011-05-10	Common Stock	M	96000	$27.665	Acquired	102404	Direct
2011-05-10	Common Stock	S	96000	$32.3044	Disposed	6404	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-09	Employee Stock Option (Right to Buy)	$27.665	M	10845	Disposed	2019-05-23	Common Stock (10845)	Direct
2011-05-09	Employee Stock Option (Right to Buy)	$27.665	M	99192	Disposed	2017-05-23	Common Stock (99192)	Direct
2011-05-09	Employee Stock Option (Right to Buy)	$27.665	M	43375	Disposed	2017-05-23	Common Stock (43375)	Direct
2011-05-10	Employee Stock Option (Right to Buy)	$27.665	M	96000	Disposed	2017-05-23	Common Stock (96000)	Direct

Footnotes

F1: The transactions reported on this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the reporting person on May 4, 2011.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.25 to $32.29, inclusive. The reporting person undertakes to provide to Iron Mountain Incorporated, any security holder of Iron Mountain Incorporated, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) and (3) to this Form 4.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.25 to $32.555, inclusive.

F4: The option, representing a right to purchase a total of 36,153 shares, vests in ten equal annual installments beginning on May 24, 2008, which was the first anniversary of the date on which the option was granted.

F5: The option, representing a right to purchase a total of 325,321 shares, vests in five equal annual installments beginning on May 24, 2008, which was the first anniversary of the date on which the option was granted.

F6: The option, representing a right to purchase a total of 72,293 shares, vests in five equal annual installments beginning on May 24, 2008, which was the first anniversary of the date on which the option was granted.