Cook Stephen M. 4

What Happened
Stephen M. Cook, a director of Reservoir Media, Inc. (RSVR), was awarded 492 Deferred Stock Units (DSUs) on June 22, 2026 as quarterly compensation. The DSUs were granted at a calculated price of $10.15 per share, for a reported total value of $4,994. This was an award (compensation) rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-06-22; Filing date: 2026-06-24 (filed on time).
• Award: 492 DSUs at $10.15 per unit; reported total $4,994.
• DSUs represent the economic equivalent of one share each and were elected in lieu of cash compensation.
• Settlement: These DSUs will be settled in common shares on July 28, 2027.
• Beneficial ownership: The reporting person disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest (per footnote).
• Calculation note: Number of DSUs was based on the $10.15 closing stock price on the grant date.
• Shares owned after transaction: Not specified in this filing.

Context
This was a routine director compensation award under the company’s 2021 Omnibus Incentive Plan, not a market purchase or sale. Awards like DSUs are compensation and do not necessarily signal the director’s near‑term trading intent; they will convert to shares at the stated settlement date in 2027.