Reservoir Media (RSVR) director takes board pay in 654 stock units

Rhea-AI Filing Summary

Reservoir Media, Inc. director Stephen M. Cook reported an equity-based compensation grant tied to his board service. He acquired 654 Deferred Stock Units (DSUs), each economically equivalent to one share of common stock, based on a price of $7.64 per share, which was the closing price on the grant date.

The DSUs were received in lieu of cash for his quarterly compensation as a non-employee director and were awarded under the company’s 2021 Omnibus Incentive Plan. These DSUs are scheduled to be settled in shares of common stock on July 28, 2026. Cook reports both directly held and indirectly held shares and disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest.

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)
02/20/2026

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	02/20/2026		A(1)		654(2)	A	$7.64	946,117	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 $7.64, 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	02/24/2026
	** 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 did Reservoir Media (RSVR) director Stephen M. Cook report on this Form 4?

Stephen M. Cook reported receiving 654 Deferred Stock Units as part of his quarterly compensation for serving as a non-employee director. Each DSU is economically equivalent to one share of Reservoir Media common stock and will be settled in shares at a future settlement date.

How many Deferred Stock Units did Stephen M. Cook receive from Reservoir Media (RSVR)?

Stephen M. Cook received 654 Deferred Stock Units under Reservoir Media’s 2021 Omnibus Incentive Plan. The number of DSUs was calculated using a price of $7.64 per share, which was the closing price of the company’s common stock on the grant date.

At what price were Stephen M. Cook’s Reservoir Media (RSVR) DSUs calculated?

The 654 Deferred Stock Units granted to Stephen M. Cook were calculated using $7.64 per share. This amount represents the closing price of Reservoir Media’s common stock on the date of grant, directly determining how many DSUs he received as director compensation.

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

Stephen M. Cook’s Deferred Stock Units are scheduled to be settled in shares of Reservoir Media common stock on July 28, 2026. At that time, each DSU converts into one share, delivering equity that reflects compensation he chose instead of receiving cash.

Why did Stephen M. Cook receive DSUs instead of cash from Reservoir Media (RSVR)?

Stephen M. Cook elected to receive his quarterly non-employee director compensation in Deferred Stock Units rather than cash. This election converts his board fees into equity-based awards, aligning part of his compensation with Reservoir Media’s stock performance over time.

What does Stephen M. Cook’s beneficial ownership disclaimer mean for Reservoir Media (RSVR) shares?

Stephen M. Cook disclaims beneficial ownership of the underlying Reservoir Media shares except to the extent of his pecuniary interest. This means his economic stake is acknowledged, but he does not claim full beneficial ownership beyond his direct financial interest in the DSUs and related shares.