RSVR Form 4: Director Stephen M. Cook awarded 684 DSUs

Rhea-AI Filing Summary

Reservoir Media, Inc. (RSVR) director equity compensation reported

Director Stephen M. Cook reported receiving 684 Deferred Stock Units (DSUs) of Reservoir Media common stock on 11/21/2025 as part of his quarterly compensation for serving as a non-employee director. He elected to take this compensation in DSUs instead of cash, with the grant value based on the closing stock price of $7.30 on the grant date. Each DSU represents the economic equivalent of one share of common stock and will be settled in actual shares on July 28, 2026. After this transaction, he reports beneficial ownership of 945,463 shares directly and 226,089 shares indirectly through BTCSJC Music LLC.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cook Stephen M.

(Last) (First) (Middle)

C/O RESERVOIR MEDIA, INC.

200 VARICK STREET, SUITE 801

(Street)

NEW YORK NY 10014

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Reservoir Media, Inc. [ RSVR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, $0.0001 par value	11/21/2025		A(1)		684(2)	A	$7.3	945,463	D
Common stock, $0.0001 par value								226,089	I	Owned by BTCSJC Music LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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.

2. 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.

	/s/ James A. Heindlmeyer, as attorney-in-fact for Stephen M. Cook	11/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What transaction did Reservoir Media (RSVR) report in this Form 4?

The filing reports that director Stephen M. Cook received 684 Deferred Stock Units (DSUs) of Reservoir Media common stock on 11/21/2025 as part of his quarterly compensation for board service.

How were the 684 DSUs for RSVR director Stephen M. Cook valued?

The 684 DSUs were calculated using a stock price of $7.30, which was the closing price of Reservoir Media’s common stock on the grant date.

When will Stephen M. Cook’s DSUs in Reservoir Media (RSVR) be settled?

The filing states that the DSUs will be settled in shares of Reservoir Media common stock on July 28, 2026.

What is a Deferred Stock Unit (DSU) in the context of RSVR?

A Deferred Stock Unit (DSU) is described as the economic equivalent of one share of Reservoir Media common stock, with payment to be made in shares at a future settlement date.

How many Reservoir Media (RSVR) shares does Stephen M. Cook beneficially own after this transaction?

After the reported transaction, Stephen M. Cook reports 945,463 shares held directly and 226,089 shares held indirectly through BTCSJC Music LLC.

Under which plan were the Reservoir Media (RSVR) DSUs granted to the director?

The DSUs were awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan as part of non-employee director compensation.