IRON MOUNTAIN INC — Director's Dealing 2016

Oct 7, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IRON MOUNTAIN INC (IRM)
CIK: 0001020569
Period of Report: 2016-10-05

Reporting Person: HALVORSEN KRIS (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-05	Common Stock, par value $.01 per share	M	5816.4447	—	Acquired	26542.4447	Direct
2016-10-05	Common Stock, par value $.01 per share	D	0.4447	$34.27	Disposed	26542	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-05	Phantom Stock	$	M	5816.4447	Disposed		Common Stock (5816.4447)	Direct

Footnotes

F1: Pursuant to the Reporting Person's election to participate in the Iron Mountain Incorporated Directors Deferred Compensation Plan (the "Plan"), the shares of phantom stock (the "Phantom Shares") are payable in shares of Iron Mountain Incorporated common stock on various dates selected by the Reporting Person or as otherwise provided in the Plan. Each Phantom Share is the economic equivalent of one (1) share of Iron Mountain Incorporated common stock ("Common Stock").

F2: Represents the fraction of a share of Common Stock otherwise issuable to the Reporting Person for which cash was paid in lieu of the issuance of a fractional share, based on the closing price of Common Stock on the New York Stock Exchange on the transaction date.

F3: Settlement of the Phantom Shares is in an equivalent number of whole shares of Common Stock and cash in lieu of the issuance of a fractional share.

F4: Settlement of the Phantom Shares is made in accordance with distribution elections made by the Reporting Person or as otherwise provided in the Plan.