Director Ryan P. Taylor gets DSU award at Reservoir Media (RSVR)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ER Reservoir LLC reported acquisition or exercise transactions in this Form 4 filing.
Reservoir Media, Inc. reported that director Ryan P. Taylor received 492 Deferred Stock Units (DSUs) as part of his quarterly compensation for service as a non-employee director. The DSUs were valued using the $10.15 closing price of the company’s common stock on the grant date and are economically equivalent to common shares.
These DSUs will be settled in shares of common stock on July 28, 2027. Following this grant, Taylor beneficially owns 13,595 shares, including 10,430 shares underlying Restricted Stock Units (RSUs) and 3,165 shares underlying DSUs. Separately, ER Reservoir LLC, described as the Fund, directly owns 13,652,372 shares of Reservoir Media common stock, with various Richmond Hill entities and Taylor potentially deemed beneficial owners of portions of this stake, while each disclaims beneficial ownership except to the extent of pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
ER Reservoir LLC, Richmond Hill Investments, LLC, Richmond Hill Investment Co., LP, Richmond Hill Capital Management, LLC, Taylor Ryan P.
Role
null | null | null | null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common stock, $0.0001 par value | 492 | $10.15 | $5K |
| holding | Common stock, $0.0001 par value | -- | -- | -- |
Holdings After Transaction:
Common stock, $0.0001 par value — 13,595 shares (Indirect, See Footnote);
Common stock, $0.0001 par value — 13,652,372 shares (Direct, null)
Footnotes (1)
- The shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. 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 DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2027 (the "Settlement Date"). The number of DSUs received was calculated based on $10.15, which was the closing price of the Issuer's Common Stock on the date of grant. Amount of securities beneficially owned following the reported transaction includes 10,430 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 3,165 shares of Common Stock underlying DSUs awarded to Mr. Taylor 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"), Mr. Taylor 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. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein. The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group. The amount of securities shown in this row is owned directly by the Fund. As a manager of the Fund, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of 9,897,970 of the Issuer's securities held by the Fund. As a manager of the Fund, Richmond Hill Investment Co., LP (the "RHIC Manager") may be deemed to be a beneficial owner of 3,754,402 of the Issuer's securities held by the Fund. As the general partner of the RHIC Manager, Richmond Hill Capital Management, LLC (the "General Partner") may be deemed to be a beneficial owner of 3,754,402 of the Issuer's securities held by the Fund. (continued in footnote 6) (Continued from footnote 5) As the manager of the General Partner, Ryan P. Taylor may be deemed to be a beneficial owner of 3,754,402 of the Issuer's securities held 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 Mr. Taylor 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. Each of the RHI Manager, the RHIC Manager, the General Partner and Mr. Taylor 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 its or his respective pecuniary interest therein. The Reporting Persons listed on this Form 4 may be deemed members of a group with Essex Equity Joint Investment Vehicle, LLC and certain of its affiliates (collectively, the "Essex Entities") and Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RHCP Entities"), which have each previously filed a Form 3 and Forms 4 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the Essex Entities or the RHCP Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the Essex Entities and the RHCP Entities, except to the extent of their pecuniary interests therein.
Key Figures
DSUs granted: 492 units
DSU valuation price: $10.15 per share
DSU settlement date: July 28, 2027
+5 more
8 metrics
DSUs granted
492 units
Director quarterly compensation grant
DSU valuation price
$10.15 per share
Closing common stock price on grant date
DSU settlement date
July 28, 2027
Date DSUs convert into common shares
Taylor equity-based holdings
13,595 shares
Beneficially owned after transaction via RSUs and DSUs
RSUs included
10,430 shares
Common stock underlying Restricted Stock Units
DSUs included
3,165 shares
Common stock underlying Deferred Stock Units
Fund direct holdings
13,652,372 shares
Common stock owned directly by ER Reservoir LLC (the Fund)
Transferred RSU/DSU shares
59,579 shares
Shares from settled RSUs and DSUs transferred to Fund’s account
Key Terms
Deferred Stock Units ("DSUs"), Restricted Stock Units ("RSUs"), 2021 Omnibus Incentive Plan, pecuniary interest, +2 more
6 terms
Deferred Stock Units ("DSUs") financial
"The shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan"
Restricted Stock Units ("RSUs") financial
"includes 10,430 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 3,165 shares of Common Stock underlying DSUs"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
2021 Omnibus Incentive Plan financial
"DSUs awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor"
pecuniary interest financial
"disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein"
Section 16 of the Exchange Act regulatory
"disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act"
beneficial owner financial
"may be deemed to be a beneficial owner of 3,754,402 of the Issuer's securities held by the Fund"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
FAQ
What insider transaction did Reservoir Media (RSVR) report for Ryan P. Taylor?
Reservoir Media reported that director Ryan P. Taylor received 492 Deferred Stock Units (DSUs) as part of his quarterly compensation. Each DSU is economically equivalent to one share of common stock and represents equity-based pay rather than cash.
At what price were the 492 DSUs for Reservoir Media (RSVR) calculated?
The 492 DSUs were calculated using a price of $10.15, the closing price of Reservoir Media’s common stock on the grant date. This price determined how many DSUs Taylor received for his elected quarterly director compensation.
When will Ryan P. Taylor’s Reservoir Media (RSVR) DSUs be settled?
The DSUs awarded to Ryan P. Taylor will be settled in shares of Reservoir Media common stock on July 28, 2027. Until then, they represent deferred stock-based compensation rather than currently issued shares.
How large is ER Reservoir LLC’s position in Reservoir Media (RSVR)?
ER Reservoir LLC, referred to as the Fund, directly owns 13,652,372 Reservoir Media common shares. Richmond Hill entities and Ryan P. Taylor may be deemed beneficial owners of portions of this stake but each disclaims beneficial ownership except for their pecuniary interest.
Why are multiple Richmond Hill entities mentioned in the Reservoir Media (RSVR) Form 4?
Multiple Richmond Hill entities are listed because they manage or are general partners of the Fund that holds Reservoir Media shares. They may be deemed beneficial owners of specified share amounts, but each entity and Ryan P. Taylor disclaim beneficial ownership beyond their pecuniary interests.