Reservoir Media (RSVR) director takes DSU grant instead of cash fees
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Taylor Ryan P. reported acquisition or exercise transactions in this Form 4 filing.
Reservoir Media, Inc. director Ryan P. Taylor received a grant of 492 Deferred Stock Units (DSUs) valued at $10.15 per unit as quarterly compensation for service as a non-employee director, elected in lieu of cash, under the 2021 Omnibus Incentive Plan. Each DSU is economically equivalent to one share of common stock and is scheduled to settle in shares on July 28, 2027. The filing also reports indirect holdings of 13,652,372 shares through ER Reservoir, LLC and 179,389 shares through Richmond Hill Capital Partners, LP, with beneficial ownership of these shares and the DSUs disclaimed except to the extent of Taylor’s pecuniary interest. In addition, 418,576 shares previously reported as owned by Essex Equity Joint Investment Vehicle, LLC are no longer deemed to be beneficially owned by Taylor and have been removed from his reported holdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Taylor Ryan P.
Role
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 | -- | -- | -- |
| holding | Common stock, $0.0001 par value | -- | -- | -- |
Holdings After Transaction:
Common stock, $0.0001 par value — 13,595 shares (Direct, null);
Common stock, $0.0001 par value — 179,389 shares (Indirect, By Richmond Hill Capital Partners, LP)
Footnotes (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, 2027 (the "Settlement Date"). The Reporting Person disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein. 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. Represents Restricted Stock Units ("RSUs") and DSUs awarded in connection with the Reporting Person's compensation 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"), Reporting Person has directed the issuer to to transfer shares upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. The Reporting Person disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein. The amount of securities shown in this row is owned directly by Richmond Hill Capital Partners, LP ("RHCP"). The Reporting Person is the managing member of the general partner of RHCP and the manager of the general partner of Richmond Hill Investment Co., LP, the investment adviser to RHCP, and may be deemed to be a beneficial owner of the shares owned by RHCP. The Reporting Person disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 of the Exchange Act, or for any other purpose. The amount of securities shown in this row is owned directly by the Fund. The Reporting Person is the manager of the general partner of a manager of the Fund and may be deemed to be a beneficial owner of the shares owned 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 the Reporting Person directed to be transferred into the account of the Fund due to his position as the manager of the general partner of a manager of the Fund (Cont'd in FN 6) (Cont'd from FN 5) The Reporting Person 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 his pecuniary interest therein, and the inclusion of the shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 of the Exchange Act, or for any other purpose. The amount of 418,576 shares of Common Stock owned directly by Essex Equity Joint Investment Vehicle, LLC previously reported on Form 4's by the Reporting Person have been removed from this and any subsequent Form 4's of the Reporting Person with respect to the Common Stock of the Issuer as such shares of Common Stock are no longer deemed to be beneficially owned by the Reporting Person.
Key Figures
DSU grant size: 492 units
Grant valuation price: $10.15 per unit
DSU settlement date: July 28, 2027
+4 more
7 metrics
DSU grant size
492 units
Director quarterly compensation grant under 2021 Omnibus Incentive Plan
Grant valuation price
$10.15 per unit
Closing price of common stock on grant date used to calculate DSUs
DSU settlement date
July 28, 2027
Date when DSUs will be settled in common shares
Direct RSUs and DSUs after grant
13,595 units
Total Restricted Stock Units and DSUs held directly after this transaction
Indirect shares via ER Reservoir LLC
13,652,372 shares
Common stock owned by ER Reservoir LLC; reporting person may be deemed beneficial owner
Indirect shares via Richmond Hill Capital Partners LP
179,389 shares
Common stock owned by Richmond Hill Capital Partners, LP; beneficial ownership disclaimed except for pecuniary interest
Shares removed from beneficial ownership
418,576 shares
Essex Equity Joint Investment Vehicle, LLC shares no longer deemed beneficially owned
Key Terms
Deferred Stock Units ("DSUs"), Restricted Stock Units ("RSUs"), pecuniary interest, Section 16 of the Securities Exchange Act of 1934, +1 more
5 terms
Deferred Stock Units ("DSUs") financial
"Represents Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan"
Restricted Stock Units ("RSUs") financial
"Represents Restricted Stock Units ("RSUs") and DSUs awarded in connection with the Reporting Person's compensation"
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.
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein"
Section 16 of the Securities Exchange Act of 1934 regulatory
"shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 of the Securities Exchange Act of 1934"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
2021 Omnibus Incentive Plan financial
"Represents Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan"
FAQ
What insider transaction did RSVR director Ryan P. Taylor report?
Ryan P. Taylor reported receiving 492 Deferred Stock Units as compensation for service as a non-employee director. The units were granted at $10.15 each instead of cash fees under Reservoir Media’s 2021 Omnibus Incentive Plan.
How many Deferred Stock Units did the RSVR director receive and at what price?
The director received 492 Deferred Stock Units based on a price of $10.15 per unit. That price reflects the closing price of Reservoir Media common stock on the grant date used to calculate the number of DSUs awarded.
What indirect Reservoir Media holdings are associated with ER Reservoir LLC and Richmond Hill Capital Partners?
The filing shows 13,652,372 Reservoir Media shares owned directly by ER Reservoir LLC and 179,389 shares owned directly by Richmond Hill Capital Partners, LP. Ryan P. Taylor may be deemed a beneficial owner but disclaims ownership except for his pecuniary interest.