Taylor Ryan P. 4
4 · Reservoir Media, Inc. · Filed Feb 24, 2026
Research Summary
AI-generated summary of this filing
Reservoir Media (RSVR) Director Taylor Ryan Receives Award
What Happened
Taylor Ryan, a non‑employee director of Reservoir Media, Inc. (RSVR), was granted 654 Deferred Stock Units (DSUs) on Feb 20, 2026. The grant was valued at $7.64 per unit for a total economic value of $4,997. Ryan elected to receive his quarterly director compensation in DSUs instead of cash; these DSUs will be settled in shares of common stock on July 28, 2026. The filing reports an award (grant), not an open‑market purchase or sale.
Key Details
- Transaction date and price: Feb 20, 2026; 654 DSUs at $7.64 each (total ~$4,997).
- Settlement: DSUs will be converted into common shares on July 28, 2026.
- Shares owned after transaction: The filing does not report immediate beneficial ownership of the underlying shares; the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.
- Notable footnotes: F1 — DSUs awarded under the 2021 Omnibus Incentive Plan and are economic equivalents of one share; F2 — DSU count based on the $7.64 closing price; additional footnotes note directed transfers and pecuniary‑interest disclaimers.
- Timeliness: Form 4 filed Feb 24, 2026 covering the Feb 20, 2026 grant (filed within the typical SEC Form 4 deadline).
Context
DSUs are a form of deferred-compensation for directors and are converted to shares at a later settlement date; such awards reflect routine compensation practices rather than immediate buying or selling activity. Because this was an award (code A), it is not an open‑market purchase (P) nor a sale (S), and does not by itself indicate a director's trading sentiment.
Insider Transaction Report
Form 4
Taylor Ryan P.
Other
Transactions
- Award
Common stock, $0.0001 par value
[F1][F2][F3]2026-02-20$7.64/sh+654$4,997→ 13,103 total
Holdings
- 179,389(indirect: By Richmond Hill Capital Partners, LP)
Common stock, $0.0001 par value
[F4] - 418,576(indirect: By LLC)
Common stock, $0.0001 par value
[F5] - 13,652,372(indirect: By LLC)
Common stock, $0.0001 par value
[F6][F7]
Footnotes (7)
- [F1]Represents Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan"). Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The Reporting Person acquired these DSUs in connection with the Reporting Person's quarterly compensation for service as a non-employee director of the Issuer. The Reporting Person elected to receive payment of his quarterly compensation in DSUs in lieu of cash. This issuance of DSUs will be settled in shares of Common Stock on July 28, 2026 (the "Settlement Date"). The Reporting Person disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.
- [F2]The number of DSUs received was calculated based on $7.64, which was the closing price of the Issuer's Common Stock on the date of grant.
- [F3]Represents Restricted Stock Units ("RSUs") and DSUs awarded in connection with the Reporting Person's compensation for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Reporting Person has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of The Fund on the applicable Settlement Date. The Reporting Person disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.
- [F4]The amount of securities shown in this row is owned directly by Richmond Hill Capital Partners, LP ("RHCP"). The Reporting Person is the managing member of the general partner of RHCP and the manager of the general partner of Richmond Hill Investment Co., LP, the investment adviser to RHCP, and may be deemed to be a beneficial owner of the shares owned by RHCP. The Reporting Person disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 of the Exchange Act, or for any other purpose.
- [F5]The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("EEJIV"). The Reporting Person owns an equity interest in an entity that may be deemed to have a pecuniary interest in the shares owned by EEJIV and therefore may be deemed to be a beneficial owner of the shares owned by EEJIV. The Reporting Person disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 of the Exchange Act, or for any other purpose.
- [F6]The amount of securities shown in this row is owned directly by the Fund. The Reporting Person is the manager of the general partner of a manager of the Fund and may be deemed to be a beneficial owner of the shares owned by the Fund. The amount of securities shown in this row also reflects a transfer of a total of 59,579 shares of Common Stock received upon the settlement of previously issued RSUs and DSUs that the Reporting Person directed to be transferred to the account of the Fund due to his position as the manager of the general partner of a manager of the Fund. (Cont'd in FN 7)
- [F7](Cont'd from FN 6) The Reporting Person disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 of the Exchange Act, or for any other purpose.
Signature
/s/ James A. Heindlmeyer, as attorney-in-fact for Ryan P. Taylor|2026-02-24