Iron Mountain Inc . (NYSE:IRM) President and CEO William L. Meaney recently sold a significant portion of his holdings in the company, according to a recent SEC filing. Meaney disposed of shares totaling approximately $6.9 million. The sales occurred at prices ranging from $97.038 to $100.738 per share, with the stock currently trading at $103.91. The company, valued at over $30.5 billion, has delivered an impressive 56% return over the past year.
The transactions were part of a series of sales on February 3, 2025, which saw Meaney selling a total of 71,125 shares of Iron Mountain’s common stock. Following these transactions, Meaney’s direct ownership has been adjusted to reflect the changes.
In addition to the sales, Meaney also acquired 69,125 shares through the exercise of stock options at a price of $36.588 per share, amounting to a total of $2,529,145.
Iron Mountain Inc., a real estate investment trust (REIT), specializes in storage and information management services. The company is headquartered in Boston, Massachusetts. The REIT maintains a steady 2.75% dividend yield and has consistently paid dividends for 15 consecutive years. InvestingPro subscribers can access 10+ additional insights about Iron Mountain’s financial health and growth prospects.
In other recent news, Iron Mountain Incorporated has seen significant developments. The company has elected June Yee Felix to its Board of Directors, effective January 1, 2025. Ms. Felix brings a wealth of experience from her leadership roles in the financial services, fintech, and technology sectors. This news comes alongside Iron Mountain’s announcement of successfully issuing $1.2 billion in senior notes, maturing on January 15, 2033. The net proceeds from this offering, approximately $1.185 billion after expenses, are planned to repay a portion of its outstanding revolving credit facility borrowings. These recent developments reflect Iron Mountain’s strategic moves to strengthen its board and manage its financial leverage. It’s important to note that these are recent events and represent ongoing strategic decisions within the company.
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