铁山 2025年度报告

FORM 10-K (Mark One)☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the Fiscal Year Ended December31, 2025or☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the transition period fromtoCommission File Number1-13045_________________________________________________________ IRON MOUNTAIN INCORPORATED (Exact name of Registrant as Specified in Its Charter) Name of Exchange on Which Registered New York Stock Exchange Securities registered pursuant to Section12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒No☐ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerginggrowth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of theExchange Act. (Check one): Accelerated filer Smaller reporting company Emerging growth company Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.Yes☒No☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filingreflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received byany of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ As of June30, 2025, the last business day of the registrant's most recently completed second fiscal quarter, the aggregate market value of the Common Stock ofthe registrant held by non-affiliates of the registrant was approximately $29.8 billion based on the closing price on the New York Stock Exchange on such date. Number of shares of the registrant’s Common Stock at February6, 2026: 295,835,206 DOCUMENTS INCORPORATED BY REFERENCE Certain information required in Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form10-K (the"Annual Report") is incorporated by reference fromour definitive Proxy Statement for our 2026 Annual Meeting of Stockholders (our "Proxy Statement") to be filed with the Securities and Exchange Commission (the"SEC") within 120days after the close of the fiscal year ended December31, 2025. TABLE OF CONTENTS References in this Annual Report on Form 10-K for the year ended December31, 2025 (this "Annual Report") to "the Company", "Iron Mountain","we", "us" or "our" include Iron Mountain Incorporated, a Delaware corporation, and its predecessor, as applicable, and its consolidated subsidiaries,unless the context indicates otherwise. CAUTIONARY NOTE REGARDING FORWARD-LOOKINGSTATEMENTS We have made statements in this Annual Report that constitute "forward-looking statements" as that term is defined in the Private SecuritiesLitigation Reform Act of 1995 and other securities laws. These forward-looking statements concern our current expectations regarding our futureresults from operations, economic performance, financial condition, goals, strategies, investment objectives, plans and achievements. Theseforward-looking statements are subject to various known and unknown risks, uncertainties and other factors, and you should not rely upon themexcept as statements of our present intentions and of our present expectations, which may or may not occur. When we use words such as "believes","expects", "anticipates", "estimates", "plans", "intends", "pursue", "commits", "will" or similar expressions, we are making forward-looking statements.Although we believe that our forward-looking statements are based on reasonable assumptions, our expected results may not be achieved, andactual results may differ