Reservoir Media (RSVR) awards 10,430 RSUs to Director Jennifer Koss

Rhea-AI Filing Summary

Insider award of restricted stock units to a director The Form 4 shows that Jennifer G. Koss, a director of Reservoir Media, Inc. (RSVR), was granted 10,430 restricted stock units (RSUs) under the company's 2021 Omnibus Incentive Plan. Each RSU converts to one share of common stock and the award carries a $0 per-share purchase price. The RSUs are contingent on continued board service and vest on July 28, 2026. After the award, Ms. Koss is reported to beneficially own 64,243 shares of common stock. The disclosure identifies the grant as non‑derivative equity compensation for board service.

Positive

• Director alignment: Granting 10,430 RSUs aligns the director’s interests with shareholders by tying value to future share performance
• Retention incentive: Vesting contingent on continued service through July 28, 2026 supports board continuity

Negative

• Potential future dilution: 10,430 RSUs represent possible future issuance of common stock upon vesting
• No immediate purchase signal: The grant is non‑cash ($0 price) and does not indicate insider buying of shares on the open market

Insights

Corporate Governance Expert

TL;DR: A board director received time‑based RSUs, increasing her reported ownership; this is routine compensation, not an immediate cash transaction.

The RSU grant to a director is a common governance practice to align director incentives with shareholders. The award vests contingent on continued board service, which supports retention. The grant price of $0 indicates these are compensation RSUs rather than market purchases. There is no sale or acquisition of shares for consideration and no immediate dilution until RSUs convert to shares on vesting. For investors, this is a standard non‑cash director compensation disclosure without immediate balance sheet impact.

Securities Analyst

TL;DR: The transaction is a non‑cash equity grant that modestly increases insider ownership; it's informational, not a liquidity signal.

The reported increase of 10,430 RSUs raises the director's beneficial ownership to 64,243 shares upon conversion. Because the RSUs vest in the future and carry no exercise price, there is a potential future issuance of shares which could cause modest dilution when settled. The filing contains no evidence of stock sales, option exercises, or other transactions that would indicate insider buying or selling activity today.

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

OMB Number:			3235-0287
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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^*

Koss Jennifer G.

(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)
08/15/2025

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	08/15/2025		A(1)		10,430	A	$0	64,243	D

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 Restricted Stock Units ("RSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan"). Each RSU represents a contingent right to receive one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The RSUs will vest on July 28, 2026, subject to Reporting Person's continued service on the board of directors (the "Board") of the Issuer on such date.

	/s/ James A. Heindlmeyer, as attorney-in-fact for Jennifer G. Koss	08/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Jennifer G. Koss report on Form 4 for RSVR?

She was granted 10,430 RSUs under the 2021 Omnibus Incentive Plan, increasing her reported beneficial ownership to 64,243 shares.

When do the RSUs awarded to the director vest?

The RSUs vest on July 28, 2026, subject to the director’s continued service on the board on that date.

Did the director purchase shares for cash in this transaction?

No. The RSUs were granted with a per‑share price of $0, indicating a compensation award rather than a market purchase.

Will the RSU grant immediately dilute RSVR shares outstanding?

No immediate dilution. Dilution would occur only if and when the RSUs vest and are settled in shares.

Is this Form 4 filing a signal of insider selling or buying?

No. The disclosure documents a compensated equity grant, not a sale or purchase of existing shares on the market.