RSVR Form 4: Director Ryan P. Taylor receives DSU equity award
Rhea-AI Filing Summary
Reservoir Media, Inc. (RSVR) reported an insider equity compensation transaction involving director Ryan P. Taylor. On 11/21/2025, Taylor received 684 Deferred Stock Units (DSUs) under the company’s 2021 Omnibus Incentive Plan as his quarterly compensation for service as a non-employee director. The DSUs were valued using the closing price of $7.30 per share of Reservoir’s common stock on the grant date, with each DSU economically equivalent to one common share.
The DSUs will be settled in shares of common stock on July 28, 2026, and Taylor elected to receive this compensation in DSUs instead of cash. Following the transaction, indirect holdings reported for Taylor total 12,449 shares, which include common stock underlying both Restricted Stock Units and DSUs. A separate line reflects 13,652,372 shares held directly by ER Reservoir LLC, with various affiliated entities and individuals disclosing that they may be deemed beneficial owners of portions of these securities while generally disclaiming beneficial ownership beyond their pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common stock, $0.0001 par value | 684 | $7.30 | $5K |
| holding | Common stock, $0.0001 par value | -- | -- | -- |
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, 2026 (the "Settlement Date"). The number of DSUs received was calculated based on $7.30, which was the closing price of the Issuer's Common Stock on the date of grant. Amount of securities beneficially owned following the reported transactions includes 10,430 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 2,019 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. As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of 9,897,970 of the Issuer's securities held by the Fund. (continued in footnote 6) (Continued from footnote 5) As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of 9,897,970 of the Issuer's securities held by the Fund. 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, the EEH Manager, Mr. Liu 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 Form 4's 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.
FAQ
What insider transaction did Reservoir Media (RSVR) report in this Form 4?
The filing reports that director Ryan P. Taylor received 684 Deferred Stock Units (DSUs) on 11/21/2025 as part of his quarterly compensation for serving as a non-employee director of Reservoir Media, Inc.
At what price were the Reservoir Media DSUs granted to Ryan P. Taylor?
The number of DSUs granted to Ryan P. Taylor was calculated using $7.30, the closing price of Reservoir Media’s common stock on the grant date.
When will the DSUs granted to the Reservoir Media director be settled?
The DSUs granted to Ryan P. Taylor are scheduled to be settled in shares of Reservoir Media common stock on July 28, 2026, referred to as the Settlement Date.
How many Reservoir Media securities does Ryan P. Taylor beneficially own after this transaction?
After the reported Form 4 transaction, the amount of securities beneficially owned indirectly by Ryan P. Taylor is listed as 12,449 shares, which includes common stock underlying previously awarded RSUs and DSUs for his director service.
Why were DSUs used instead of cash for the Reservoir Media director’s compensation?
Ryan P. Taylor elected to receive his quarterly compensation for service as a non-employee director of Reservoir Media in the form of Deferred Stock Units under the company’s 2021 Omnibus Incentive Plan, in lieu of cash.