IRON MOUNTAIN INC — Director's Dealing 2014

Jun 2, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IRON MOUNTAIN INC (IRM)
CIK: 0001020569
Period of Report: 2014-05-29

Reporting Person: RYAN VINCENT J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-29	Phantom Stock	$	A	4373	Acquired		Common Stock (4373)	Direct
2014-05-29	Phantom Stock	$	A	137.3497	Acquired		Common Stock (137.3497)	Direct

Footnotes

F1: Pursuant to the Reporting Person's election to participate in the Iron Mountain Incorporated Directors Deferred Compensation Plan with respect to certain restricted stock units ("RSUs") received on May 29, 2014, which RSUs shall vest on the one year anniversary of the grant date (or, if earlier, the annual meeting of stockholders that is closest to the one year anniversary), the shares of phantom stock (the "Phantom Shares") will become payable in Iron Mountain Incorporated common stock following the Reporting Person's disability or cessation of service as a director. Each Phantom Share is the economic equivalent of one share of common stock.

F2: Pursuant to the Reporting Person's election to participate in the Iron Mountain Incorporated Directors Deferred Compensation Plan, the Phantom Shares will become payable in shares of Iron Mountain Incorporated common stock following the Reporting Person's disability or cessation of service as a director. Each Phantom Share is the economic equivalent of one share of common stock.

F3: These shares give effect to dividends paid on previously reported restricted stock units as if reinvested in Phantom Shares.