IRON MOUNTAIN INC — Director's Dealing 2011

May 27, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IRON MOUNTAIN INC (IRM)
CIK: 0001020569
Period of Report: 2011-05-25

Reporting Person: MCKEON BRIAN P (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-25	Common Stock	M	3616	$27.665	Acquired	10020	Direct
2011-05-25	Common Stock	M	65064	$27.665	Acquired	75084	Direct
2011-05-25	Common Stock	M	14458	$27.665	Acquired	89542	Direct
2011-05-25	Common Stock	S	83138	$32.8639	Disposed	6404	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-25	Employee Stock Option (Right to Buy)	$27.665	M	3616	Disposed	2019-05-23	Common Stock (3616)	Direct
2011-05-25	Employee Stock Option (Right to Buy)	$27.665	M	65064	Disposed	2017-05-23	Common Stock (65064)	Direct
2011-05-25	Employee Stock Option (Right to Buy)	$27.665	M	14458	Disposed	2017-05-23	Common Stock (14458)	Direct

Footnotes

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

F2: Includes 6,404 shares issuable upon the settlement of restricted stock units granted on March 11, 2011. The restricted stock units vest in three equal annual installments beginning on the first anniversary of the date of grant.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.63 to $32.98, 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 this footnote (3).

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.