IRON MOUNTAIN INC — Director's Dealing 2018

Feb 22, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IRON MOUNTAIN INC (IRM)
CIK: 0001020569
Period of Report: 2018-02-16

Reporting Person: Cloutier Ernest W (EVP & Gen. Mgr, Int'l)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-20	Common Stock, par value $.01 per share	M	5871	—	Acquired	50141	Direct
2018-02-20	Common Stock, par value $.01 per share	F	1728	$32.12	Disposed	48413	Direct
2018-02-20	Common Stock, par value $.01 per share	M	1807	—	Acquired	50220	Direct
2018-02-20	Common Stock, par value $.01 per share	F	532	$32.12	Disposed	49688	Direct
2018-02-20	Common Stock, par value $.01 per share	M	2389	—	Acquired	52077	Direct
2018-02-20	Common Stock, par value $.01 per share	F	703	$32.12	Disposed	51374	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-16	Performance Units	$0.0	A	5871	Acquired		Common Stock (5871.0)	Direct
2018-02-20	Performance Units	$	M	5871	Disposed		Common Stock (5871.0)	Direct
2018-02-20	Restricted Stock Units	$0.0	M	1807	Disposed		Common Stock (1807.0)	Direct
2018-02-20	Restricted Stock Units	$	M	2389	Disposed		Common Stock (2389.0)	Direct

Footnotes

F1: This transaction is being reported to reflect the full vesting of performance units ("PUs") initially granted to the Reporting Person on February 19, 2015. Effective February 16, 2018, the Compensation Committee of Iron Mountain Incorporated's Board of Directors (the "Compensation Committee") determined the actual award of PUs under the grant after completion of the relevant performance period, and the PUs vested on February 20, 2018.

F2: This acquisition is reported to reflect the partial vesting of restricted stock units ("RSUs") previously granted to the Reporting Person on February 19, 2015.

F3: This acquisition is reported to reflect the partial vesting of RSUs previously granted to the Reporting Person on February 18, 2016.

F4: Each PU represents a contingent right to receive one share of Iron Mountain Incorporated common stock ("Common Stock").

F5: The PUs were initially granted to the Reporting Person on February 19, 2015, and effective February 16, 2018 the Compensation Committee determined the actual award of PUs under the grant after completion of the relevant performance period.

F6: The PUs were initially granted to the Reporting Person on February 19, 2015 and fully vested on February 20, 2018.

F7: Each RSU represents a contingent right to receive one share of Common Stock.

F8: The RSUs, representing a contingent right to receive a total of 5,408 shares of Common Stock, were granted to the Reporting Person on February 19, 2015 and have vested in full.

F9: The RSUs, representing a contingent right to receive a total of 7,174 shares of Common Stock, were granted to the Reporting Person on February 18, 2016 and vest in three substantially equal annual installments beginning on the first anniversary of the grant date.