Reservoir Media (RSVR) Director Ryan P. Taylor Receives RSU/DSU Award

What Happened

• Ryan P. Taylor, a non‑employee director of Reservoir Media, was awarded equity on 2026-08-14: 8,032 Restricted Stock Units (RSUs) issued at $0.00 and 502 Deferred Stock Units (DSUs) valued at $9.96 each (total ≈ $5,000). The RSUs and DSUs are awards (code A on Form 4) and are not open‑market purchases or sales.
• The RSUs vest and the DSUs will be settled into shares on July 28, 2027, subject to continued service. The reporting was made by ER Reservoir LLC (a reported 10% owner); Mr. Taylor has directed that shares issued upon settlement be transferred to the Fund’s account.

Key Details

• Transaction date: 2026-08-14. DSU price basis: $9.96 (closing price on grant date). DSU value: 502 × $9.96 ≈ $5,000. RSUs reported at $0.00 (award).
• Shares reported as beneficially owned after the transaction: includes 8,032 shares underlying RSUs and a total of 3,667 shares underlying DSUs (per filing).
• Vest/settlement date: July 28, 2027 (vesting/settlement contingent on continued board service).
• Reporting person: ER Reservoir LLC (10% owner). Footnotes state Mr. Taylor directs transfers to the Fund and disclaims beneficial ownership of underlying shares except to the extent of his pecuniary interest.
• Filing timing: Form filed 2026-08-18 for a 2026-08-14 grant (filed after the typical 2-business‑day Form 4 window).

Context

• RSUs and DSUs are deferred equity awards: RSUs convert to shares on vesting; DSUs here are the economic equivalent of shares and will be settled in stock on the stated settlement date. These are awards for director compensation, not open‑market buys or sales, so they generally reflect routine compensation rather than a direct buy/sell signal.
• The filing also includes several group/manager disclosures (footnotes) clarifying which entities may be deemed to have pecuniary interests; Mr. Taylor and related managers disclaim beneficial ownership except to the extent of such pecuniary interest.