IRON MOUNTAIN INC, DEF 14A filed on 4/18/2025
Proxy Statement (definitive)
v3.25.1
Cover
 12 Months Ended
Dec. 31, 2024
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Iron Mountain Inc
Entity Central Index Key 0001020569
v3.25.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
AVERAGE
SUMMARY
COMPENSATION
TABLE TOTAL
FOR NON-PEO
NEOs(3)
AVERAGE
COMPENSATION
ACTUALLY PAID
TO NON-PEO
NEOs(4)
VALUE OF INITIAL FIXED $100
INVESTMENT BASED ON:
YEAR
SUMMARY
COMPENSATION
TABLE
TOTAL FOR PEO(1)
COMPENSATION
ACTUALLY
PAID TO PEO(2)
TOTAL
SHAREHOLDER
RETURN
PEER GROUP
TOTAL
SHAREHOLDER
RETURN(5)
NET INCOME
(MILLIONS)(6)
REVENUE
(MILLIONS)(7)
(a)(b)(c)(d)(e)(f)(g)(h)(i)
2024$18,363,886 $118,475,621 $5,599,851 $23,508,532 $428.77 $123.47 $183.67 $6,150 
2023$14,899,851 $48,816,841 $4,006,367 $8,834,113 $277.56 $113.54 $187.26 $5,480 
2022$15,112,551 $14,447,959 $3,737,013 $4,268,120 $189.43 $99.82 $562.15 $5,104 
2021$17,046,118 $59,232,411 $3,562,277 $7,434,654 $189.58 $132.23 $452.73 $4,492 
2020$12,281,609 $13,757,847 $3,744,539 $3,807,249 $100.98 $92.43 $343.10 $4,147 
        
Company Selected Measure Name Revenue        
Named Executive Officers, Footnote The dollar amounts reported in column (b) are the amounts of total compensation reported for our CEO, William L. Meaney, in the Summary Compensation Table for fiscal years ended December 31, 2024, December 31, 2023, December 31, 2022, December 31,2021, and December 31, 2020. Mr. Meaney was the CEO for each of the fiscal years presented.The dollar amounts reported in column (d) represent the average of the amounts of total compensation reported for our NEOs as a group (excluding our CEO) for the applicable fiscal years. The names of the NEOs (excluding our CEO) included for purposes of calculating the average amounts in each applicable fiscal year are as follows:
NAMED EXECUTIVE OFFICER20242023202220212020
Barry HytinenIncludedIncludedIncludedIncludedIncluded
Ernest CloutierNot IncludedNot IncludedNot IncludedIncludedIncluded
Deirdre EvensNot IncludedNot IncludedIncludedIncludedIncluded
Greg McIntosh
IncludedIncludedIncludedNot IncludedNot Included
John Tomovcsik
Not IncludedIncludedIncludedIncludedIncluded
Mark Kidd
Included
IncludedNot includedNot IncludedNot Included
Mithu BhargavaIncludedNot IncludedNot IncludedNot IncludedNot Included
        
Peer Group Issuers, Footnote The dollar amounts reported in column (g) represent the weighted peer group cumulative TSR of the MSCI US REIT Index as discussed in the 5-Year Total Shareholder Return section on page 40.        
PEO Total Compensation Amount $ 18,363,886 $ 14,899,851 $ 15,112,551 $ 17,046,118 $ 12,281,609
PEO Actually Paid Compensation Amount $ 118,475,621 48,816,841 14,447,959 59,232,411 13,757,847
Adjustment To PEO Compensation, Footnote The dollar amounts reported in column (c) represent the amounts of compensation actually paid to our CEO for the applicable fiscal year, as computed in accordance with applicable SEC rules. The dollar amounts reported may not reflect the actual amount of compensation earned by or paid to our CEO during the applicable fiscal year. In accordance with applicable SEC rules, the following adjustments were made to our CEO’s total compensation for each applicable fiscal year to determine the compensation actually paid to our CEO:
PEO
YEARSUMMARY
COMPENSATION
TABLE TOTAL		EXCLUSION OF
CHANGE IN
PENSION VALUE		EXCLUSION OF
STOCK AWARDS
AND OPTION
AWARDS		INCLUSION OF
PENSION
SERVICE COST		INCLUSION OF
EQUITY VALUES		COMPENSATION
ACTUALLY
PAID
2024$18,363,886 — $(13,934,501)— $114,046,236 $118,475,621 
2023$14,899,851 — $(11,181,861)— $45,098,851 $48,816,841 
2022$15,112,551 — $(11,423,262)— $10,758,670 $14,447,959 
2021$17,046,118 — $(12,622,305)— $54,808,598 $59,232,411 
2020$12,281,609 — $(9,265,643)— $10,741,881 $13,757,847 
The amounts in the Inclusion of Equity Values in the table above are derived from the amounts set forth in the following table.
YEARYEAR END
FAIR VALUE
OF EQUITY
AWARDS		YEAR OVER
YEAR CHANGE
IN FAIR
VALUE OF
OUTSTANDING
AND UNVESTED
EQUITY
AWARDS 		FAIR VALUE
AS OF
VESTING DATE
OF EQUITY
AWARDS
GRANTED
AND VESTED
IN THE YEAR		YEAR OVER YEAR
CHANGE IN FAIR
VALUE OF EQUITY
AWARDS GRANTED
IN PRIOR YEARS
THAT VESTED IN
THE YEAR		FAIR VALUE AT
THE END OF THE
PRIOR YEAR OF
EQUITY AWARDS
THAT FAILED TO
MEET VESTING
CONDITIONS IN
THE YEAR		VALUE OF DIVIDENDS
OR OTHER EARNINGS
PAID ON STOCK OR
OPTION AWARDS
NOT OTHERWISE
REFLECTED IN FAIR
VALUE OR TOTAL
COMPENSATION		TOTAL EQUITY
AWARD
ADJUSTMENTS
2024$19,422,960 $84,552,078 — $6,973,885 — $3,097,313 $114,046,236 
2023$17,248,412 $23,789,603— $2,039,360 — $2,021,476$45,098,851 
2022$15,180,077 $(1,385,555)— $(4,530,733)— $1,494,881 $10,758,670 
2021$30,532,123 $22,647,626 — $1,052,694 — $576,154 $54,808,598 
2020$9,042,239 $536,799 — $355,676 — $807,166 $10,741,881 
        
Non-PEO NEO Average Total Compensation Amount $ 5,599,851 4,006,367 3,737,013 3,562,277 3,744,539
Non-PEO NEO Average Compensation Actually Paid Amount $ 23,508,532 8,834,113 4,268,120 7,434,654 3,807,249
Adjustment to Non-PEO NEO Compensation Footnote The dollar amounts reported in column (e) represent the average amount of compensation actually paid to our NEOs as a group (excluding our CEO), as computed in accordance with applicable SEC rules. The dollar amounts reported may not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding our CEO) during the applicable fiscal year. The names of the NEOs (excluding our CEO) included for purposes of calculating the average amounts in each applicable year are as described in footnote (3) above. In accordance with applicable SEC rules, the following adjustments were made to average total compensation for the NEOs as a group (excluding our CEO) for each fiscal year to determine the compensation actually paid, using the same methodology described above in footnote (2) above:
NON-PEO NEOs
YEARSUMMARY
COMPENSATION
TABLE TOTAL		EXCLUSION OF
CHANGE IN
PENSION VALUE		EXCLUSION OF
STOCK AWARDS
AND OPTION
AWARDS		INCLUSION OF
PENSION
SERVICE COST		INCLUSION OF
EQUITY VALUES		COMPENSATION
ACTUALLY PAID
2024$5,599,851 — $(3,674,547)— $21,583,228 $23,508,532 
2023$4,006,367 — $(2,290,842)— $7,118,587 $8,834,113 
2022$3,737,013 — $(2,325,406)— $2,856,512 $4,268,120 
2021$3,562,277 — $(1,993,553)— $5,865,930 $7,434,654 
2020$3,744,539 — $(1,949,486)— $2,012,196 $3,807,249 
The amounts in the Inclusion of Equity Values in the table above are derived from the amounts set forth in the following table.
YEARYEAR END
FAIR VALUE
OF EQUITY
AWARDS		YEAR OVER
YEAR CHANGE
IN FAIR
VALUE OF
OUTSTANDING
AND UNVESTED
EQUITY
AWARDS 		FAIR VALUE
AS OF
VESTING DATE
OF EQUITY
AWARDS
GRANTED
AND VESTED
IN THE YEAR		YEAR OVER YEAR
CHANGE IN FAIR
VALUE OF EQUITY
AWARDS GRANTED
IN PRIOR YEARS
THAT VESTED IN
THE YEAR		FAIR VALUE AT
THE END OF THE
PRIOR YEAR OF
EQUITY AWARDS
THAT FAILED TO
MEET VESTING
CONDITIONS IN
THE YEAR		VALUE OF DIVIDENDS
OR OTHER EARNINGS
PAID ON STOCK OR
OPTION AWARDS
NOT OTHERWISE
REFLECTED IN FAIR
VALUE OR TOTAL
COMPENSATION		TOTAL EQUITY
AWARD
ADJUSTMENTS
2024$5,007,004 $15,819,186 — $500,237 — $256,801 $21,583,228 
2023$3,353,612 $3,340,849 — $109,007 — $315,119 $7,118,587 
2022$2,983,946 $(101,015)— $(185,430)— $159,011 $2,856,512 
2021$3,433,602 $2,317,677 — $58,121 — $56,530 $5,865,930 
2020$1,860,816 $52,562 — $27,686 — $71,132 $2,012,196 
        
Compensation Actually Paid vs. Total Shareholder Return
►
CAP VERSUS TOTAL SHAREHOLDER RETURN (TSR)
03_PRO013389_line_cap_CAP vs TSR.jpg
►
CAP VERSUS NET INCOME
03_PRO013389_line_cap_CAP vs net income.jpg 
►
CAP VERSUS REVENUE
03_PRO013389_line_cap_CAP vs. revenue.jpg 
        
Compensation Actually Paid vs. Net Income
►
CAP VERSUS TOTAL SHAREHOLDER RETURN (TSR)
03_PRO013389_line_cap_CAP vs TSR.jpg
►
CAP VERSUS NET INCOME
03_PRO013389_line_cap_CAP vs net income.jpg 
►
CAP VERSUS REVENUE
03_PRO013389_line_cap_CAP vs. revenue.jpg 
        
Compensation Actually Paid vs. Company Selected Measure
►
CAP VERSUS TOTAL SHAREHOLDER RETURN (TSR)
03_PRO013389_line_cap_CAP vs TSR.jpg
►
CAP VERSUS NET INCOME
03_PRO013389_line_cap_CAP vs net income.jpg 
►
CAP VERSUS REVENUE
03_PRO013389_line_cap_CAP vs. revenue.jpg 
        
Tabular List, Table
For the fiscal year ended December 31, 2024, the most important financial performance measures used by Iron Mountain to link executive compensation actually paid to the NEOs to our performance are as follows:
PERFORMANCE MEASURES
Adjusted EBITDA
AFFO
Revenue
ROIC
Total Shareholder Return
        
Total Shareholder Return Amount $ 428.77 277.56 189.43 189.58 100.98
Peer Group Total Shareholder Return Amount 123.47 113.54 99.82 132.23 92.43
Net Income (Loss) $ 183,670,000 $ 187,260,000 $ 562,150,000 $ 452,730,000 $ 343,100,000
Company Selected Measure Amount 6,150,000,000 5,480,000,000 5,104,000,000 4,492,000,000 4,147,000,000
PEO Name William L. Meaney        
Additional 402(v) Disclosure The dollar amounts reported in column (h) represent the amount of net income (in millions) as reported in our audited consolidated financial statements on Form 10-K for the applicable fiscal year.The dollar amounts reported in column (i) represent the amount of revenue (in millions) as reported in our audited consolidated financial statements on Form 10-K for the applicable fiscal year. Revenue is our most important financial performance measure used to link compensation actually paid to our NEOs to company performance.        
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Measure:: 2          
Pay vs Performance Disclosure          
Name AFFO        
Measure:: 3          
Pay vs Performance Disclosure          
Name Revenue        
Measure:: 4          
Pay vs Performance Disclosure          
Name ROIC        
Measure:: 5          
Pay vs Performance Disclosure          
Name Total Shareholder Return        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (13,934,501) $ (11,181,861) $ (11,423,262) $ (12,622,305) $ (9,265,643)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 114,046,236 45,098,851 10,758,670 54,808,598 10,741,881
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 19,422,960 17,248,412 15,180,077 30,532,123 9,042,239
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 84,552,078 23,789,603 (1,385,555) 22,647,626 536,799
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0 0 0 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 6,973,885 2,039,360 (4,530,733) 1,052,694 355,676
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0 0 0 0 0
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 3,097,313 2,021,476 1,494,881 576,154 807,166
PEO | Equity Award Adjustments, Change In Pension Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Equity Award Adjustments, Pension Service Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Equity Award Adjustments, Change In Pension Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Equity Award Adjustments, Pension Service Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Equity Award Adjustments, Stock Awards And Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (3,674,547) (2,290,842) (2,325,406) (1,993,553) (1,949,486)
Non-PEO NEO | Equity Award Adjustments [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 21,583,228 7,118,587 2,856,512 5,865,930 2,012,196
Non-PEO NEO | Equity Awards Granted During the Year, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 5,007,004 3,353,612 2,983,946 3,433,602 1,860,816
Non-PEO NEO | Equity Awards Granted in Prior Years, Unvested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 15,819,186 3,340,849 (101,015) 2,317,677 52,562
Non-PEO NEO | Equity Awards Granted During the Year, Vested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0 0 0 0 0
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 500,237 109,007 (185,430) 58,121 27,686
Non-PEO NEO | Equity Awards that Failed to Meet Vesting Conditions [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards 0 0 0 0 0
Non-PEO NEO | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation Amount, Equity Awards $ 256,801 $ 315,119 $ 159,011 $ 56,530 $ 71,132
v3.25.1
Award Timing Disclosure
 12 Months Ended
Dec. 31, 2024
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure
In accordance with Item 402(x) of Regulation S-K, we are providing information regarding our procedures related to the grant of stock options close in time to the release of material non-public information (“MNPI”). We do not take MNPI into account when determining the timing and terms of stock options and we do not time the disclosure of MNPI for the purpose of affecting the value of executive compensation. Although we do not have a formal policy with respect to the timing of our stock options grants, the Company has historically granted stock options on a predetermined annual schedule. Our insider trading policy also prohibits directors, officers and employees from trading in our Common Stock while in possession of or on the basis of MNPI about the Company.
During fiscal 2024, only our CEO received stock options and there were no stock options granted to our CEO within four business days preceding or one day following the filing of any report of Forms 10-K, 10-Q, or 8-K that discloses MNPI.
Award Timing Method We do not take MNPI into account when determining the timing and terms of stock options and we do not time the disclosure of MNPI for the purpose of affecting the value of executive compensation.
Award Timing Predetermined true
Award Timing MNPI Considered false
Award Timing, How MNPI Considered We do not take MNPI into account when determining the timing and terms of stock options and we do not time the disclosure of MNPI for the purpose of affecting the value of executive compensation.
MNPI Disclosure Timed for Compensation Value false
v3.25.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true