Jemma Johns
About Jemma Johns
Jemma Johns, age 51, was appointed Executive Vice President and Chief Human Resources Officer (CHRO) of Iron Mountain in January 2025. She previously served as Chief People Officer at Irdeto (Nov 2022–Dec 2024) and as Vice President, Human Resources at Prosus Group (Jun 2018–Sep 2022); earlier in her career she held senior HR leadership roles at Hewlett Packard in Europe and the US. She holds a bachelor’s degree from the University of Birmingham with post‑graduate qualifications in business and HR management . IRM’s 2024 performance provides context for her pay-for-performance alignment remit: revenue was $6.15B (+12% YoY), Adjusted EBITDA was $2.24B (+14% YoY), AFFO was $1.34B ($4.54/share), and 5-year cumulative TSR was 329% versus 23% for the MSCI US REIT Index . At the 2025 annual meeting, IRM identified “Gemma Johns, EVP & CHRO” among management in attendance (naming variation likely clerical) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Irdeto (global digital platform cybersecurity) | Chief People Officer | Nov 2022 – Dec 2024 | Senior HR leadership for a global cybersecurity platform company (specific initiatives not disclosed) |
| Prosus Group (global consumer internet) | Vice President, Human Resources | Jun 2018 – Sep 2022 | Senior HR leadership for a large global consumer internet group (specific initiatives not disclosed) |
| Hewlett Packard (Europe/US) | Various senior HR leadership roles | Earlier career | Senior HR roles across geographies (specific initiatives not disclosed) |
Fixed Compensation
- Base salary and target/actual bonus for Ms. Johns were not disclosed in the 2025 DEF 14A (she was not a 2024 NEO) .
- Executive stock ownership guidelines require EVPs reporting to the CEO to hold Common Stock equal to 2x base salary and to retain 50% of net shares until compliant. IRM measures compliance annually in March; as of March 2025, all executive officers subject to the guidelines were in compliance .
| Executive ownership guideline | Multiple of salary | Compliance measurement | Compliance status (Mar 2025) |
|---|---|---|---|
| EVP (e.g., CHRO) | 2x base salary | Measured annually in March; retain 50% of net shares until compliant | All execs subject to guidelines in compliance |
Performance Compensation
IRM’s executive incentive architecture (applies enterprise-wide to executive team) balances financial and strategic metrics; specific 2025 targets for Ms. Johns are not disclosed.
| Component | Metric | Weighting | Target | Actual | Payout mechanics |
|---|---|---|---|---|---|
| Short-term incentive | Adjusted EBITDA + Revenue (enterprise) | 40% | Compensation Committee sets annually (not disclosed for 2025) | Not disclosed | Payout up to 200% if exceeds target; combined STI payout band 0–212.5% |
| Short-term incentive | AFFO per share (constant currency) | 30% | Committee sets annually (not disclosed for 2025) | Not disclosed | Payout up to 150% if exceeds target |
| Short-term incentive | Strategic objectives | 30% | Committee sets annually (not disclosed for 2025) | Not disclosed | Payout up to 150%; individual multiplier ±25% |
| Long-term incentive | PUs (operational revenue goals + rTSR vs MSCI US REIT) | Typical execs can elect RSU/PU mix; 2025 PU design: 75% operational revenue (with ROIC hurdle), 25% rTSR; operational payout capped at 133% if absolute TSR negative | Committee sets 3-year fixed revenue goals at start of period | Not disclosed | Cliff vest at 3 years; settle in stock; subject to clawback |
Note: 2024 enterprise STI results (for context) produced a final calculated payout of 124.9% after a negative discretionary adjustment applied by the Compensation Committee; these applied to NEOs and provide calibration of plan rigor .
Equity Ownership & Alignment
- Initial Section 16 filings: Ms. Johns executed a Power of Attorney for Section 16 filings on January 14, 2025 . Her Form 3 (filed Feb 28, 2025; event date Feb 25, 2025) reported 5,728 RSUs granted January 2, 2025, vesting in three substantially equal annual installments beginning January 2, 2026; each RSU represents one share of Common Stock .
| Equity award | Grant date | Quantity | Vesting | Instrument | Notes |
|---|---|---|---|---|---|
| RSUs | Jan 2, 2025 | 5,728 | Three substantially equal annual installments starting Jan 2, 2026 | RSU (1:1 common) | Reported via Form 3; POA dated Jan 14, 2025 |
- Hedging and pledging: IRM prohibits hedging and pledging of Company stock by directors and executives; certain employees may trade only through approved 10b5‑1 plans; as of April 18, 2025, all executive officers and directors were in compliance .
- Clawback: IRM adopted an executive compensation clawback policy (Nov 30, 2023) requiring recoupment of excess incentive‑based compensation upon accounting restatements; also permits recoupment for fraudulent/intentional misconduct. Applies to cash and time/performance‑vesting awards granted/earned/vested on or after Oct 2, 2023 .
- Beneficial ownership: The DEF 14A’s management ownership table lists directors and 2024 NEOs; it does not include Ms. Johns (appointed in 2025). Her initial beneficial holdings were reported via RSUs in Form 3 above .
Employment Terms
- Change-in-control (CIC) and vesting: Under the 2014 Stock & Cash Incentive Plan, unvested awards generally vest immediately if a participant is terminated without cause or resigns for “good reason” in connection with a “vesting change in control,” within 14 days prior to or 12 months after the event (double trigger). “Good reason” includes a material diminution in total annual compensation/benefits or relocation >50 miles, among other definitions. CIC definitions include sale of substantially all assets, ≥50% voting power acquisition, or non‑Board‑approved Board composition changes .
- Severance programs: The DEF 14A details CEO Severance Program No. 2 and Severance Program No. 1 (for specified NEOs), including cash severance, benefits continuation, and pro-rata equity vesting mechanics for PUs. Ms. Johns’ specific severance program participation is not disclosed; however, equity award treatment follows the 2014 Plan’s CIC and termination provisions for participants .
- Insider trading: Trading restrictions include prohibitions on short sales, options trading, standing/limit orders (except approved 10b5‑1 plans), and hedging; preclearance is required for certain employees .
Performance & Track Record
| Metric | FY 2024 | Notes |
|---|---|---|
| Revenue ($USD Billions) | $6.15 | +12% YoY reported; +13% constant currency |
| Adjusted EBITDA ($USD Billions) | $2.24 | +14% YoY; margin 36.4% vs 35.8% prior year |
| AFFO ($USD Billions) | $1.34 | $4.54 per share |
| 5-year cumulative TSR | 329% | MSCI US REIT Index 23% |
- Compensation governance: Compensation Committee retains independent consultant (Pay Governance), oversees HCM and DEI practices, and annually sets metrics and targets; strong say‑on‑pay support (approx. 96% approval in 2024) indicates shareholder alignment .
Investment Implications
- Alignment signals: As an EVP, Ms. Johns is subject to stock ownership guidelines (2x salary), anti‑hedging/pledging, and clawbacks—positive for alignment and governance. Initial RSU grant with multi‑year vesting creates retention and reduces near‑term selling pressure .
- Incentive levers: Enterprise STI/PU metrics tie pay to Revenue, Adjusted EBITDA, AFFO/share, ROIC, and rTSR, aligning HR leadership priorities with IRM’s growth and capital efficiency objectives (especially under the 2025 PU design) .
- Retention/CIC risk: Double‑trigger CIC vesting under the 2014 Plan and standard severance constructs reduce forced attrition risk but can accelerate equity under qualifying events. Specific severance participation for Ms. Johns is not disclosed; equity award terms apply via the 2014 Plan .
- Trading signals: No Form 4 transaction history for Ms. Johns was identified in the filings reviewed; monitor future Section 16 reports for vesting-related sales as RSUs begin vesting in 2026 .