Iron Mountain management check
IRM · Real Estate · Other Specialized REITs · CEO William L. Meaney
Filings as of
4 good · 2 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $347, against $138 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.61 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- n/a
What does the CEO cost owners?
Not enough dataNo pay or net income figure for the latest year.
- Watch
Do they own the stock?
CEO stake ≈ 0.3 years of payThe CEO holds 38,474 shares, directly or through trusts (unvested awards not counted): about 0.3 years of pay. Light activity: no buys, $35.5m sold in six months. 34 of 34 sales ran on pre-arranged 10b5-1 plans.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +0.7% a year over the last three fiscal years. Stock-based pay was 2.0% of revenue in the latest year.
- Good
Is leadership stable?
5 leadership filings in 3 yearsCEO in the pay table: William L. Meaney. 5 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Real Estate.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 100 | 45 | |
| Pay for performance | 81 | 86 | |
| CEO cost | — | — | 23 |
| Skin in the game | 5 | 32 | |
| Dilution | 42 | 23 | |
| Stable leadership | 100 | 85 | |
| Clean books | 100 | 100 |
Closest peers
Nearest in rank in Real Estate, by management score. Iron Mountain is 9th of 29 in its sector.
- 128CBRECBRE Group74
- 138REGRegency Centers73
- 155PLDPrologis72
- 167MAAMid-America Apartment Communities71
- 169IRMIron Mountain71
- 211VICIVici Properties68
Pay versus performance
From the proxy statement filed March 24, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | William L. Meaney | $17.0m | $21.9m | $5.7m | $347 | $138 | — |
| 2024 | — | $18.4m | $118.5m | $5.6m | $425 | $134 | — |
| 2023 | — | $14.9m | $48.8m | $4.0m | $275 | $123 | — |
| 2022 | — | $15.1m | $14.4m | $3.7m | $188 | $108 | — |
| 2021 | — | $17.0m | $59.2m | $3.6m | $188 | $143 | — |
The board says pay is tied most to Revenue. Its other key measures: Adjusted EBITDA, AFFO, ROIC, Total Shareholder Return.
Insiders and the CEO's stake
William L Meaney (President and CEO) held 38,474 shares directly after their latest Form 4 on Oct 1, 2026, roughly $4.3m at that filing's price.
Light activity: no buys, $35.5m sold in six months. 34 of 34 sales ran on pre-arranged 10b5-1 plans.
- SoldWilliam L MeaneyPresident and CEO · 10b5-1 plan$27.9mOct 1, 2026
- SoldMark KiddEVP, GM Data Centers & ALM · 10b5-1 plan$3.7mSep 1, 2026
- SoldGreg W McIntoshEVP, Chief Commercial Officer · 10b5-1 plan$2.6mOct 1, 2026
- SoldDaniel BorgesSVP & Chief Accounting Officer · 10b5-1 plan$902kMay 21, 2026
Leadership and governance on file
- Oct 21, 2025Leadership change8-K 5.02
- Jun 4, 2025Leadership change8-K 5.02
- Dec 9, 2024Leadership change8-K 5.02
- Jul 22, 2024Leadership change8-K 5.02
- Mar 19, 2024Leadership change8-K 5.02
- Jul 17, 2023Leadership change8-K 5.02
- Feb 7, 2023Leadership change8-K 5.02
- Dec 10, 2021Leadership change8-K 5.02
Latest shareholder vote results: May 12, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $3.9bn returned to owners in buybacks and dividends, and $450.1m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.5bn | $5.1bn | $5.5bn | $6.1bn | $6.9bn |
| Net income | — | — | — | — | — |
| Stock-based pay | $61.0m | $56.9m | $73.8m | $118.1m | $140.3m |
| Buybacks | — | — | — | — | — |
| Dividends | $718.3m | $724.4m | $737.6m | $789.5m | $919.4m |
| Diluted shares | 291m | 292m | 294m | 296m | 298m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.