[Form 4] Reservoir Media, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Reservoir Media insider sales reduced beneficial ownership by 100,000 shares across September 9–10, 2025. The Form 4, filed for director Adam Rothstein, reports three open-market sales: 34,719 shares on 09/09/2025 at a weighted average price of $7.92, 55,000 shares on 09/10/2025 at a weighted average price of $7.80, and 10,281 shares on 09/10/2025 at a weighted average price of $7.81. After each reported sale the filing shows beneficial ownership of 142,827 shares, then 87,827 shares, and finally 77,546 shares. The filing was signed by an attorney-in-fact on 09/11/2025 and includes explanations that each sale was executed in multiple trades with weighted average prices reported.

Positive

• Timely disclosure: Form 4 was signed and filed on 09/11/2025 following trades on 09/09 and 09/10/2025.
• Detailed execution notes: The filer provides weighted-average prices and offers to supply trade-level details on request, improving transparency.

Negative

• Large insider sales: Director Adam Rothstein sold a total of 100,000 shares over two days, reducing reported beneficial ownership to 77,546 shares.
• Potential liquidity or signaling impact: The sales materially reduced direct holdings; the filing contains no statement of purpose for the dispositions.

Insights

Securities Analyst

TL;DR: Director sold 100,000 shares in two days, materially reducing direct holdings.

The reported transactions are open-market sales totaling 100,000 shares executed on 09/09 and 09/10/2025 at weighted average prices between $7.80 and $7.92. The filings explicitly show beneficial ownership declining from 142,827 shares after the first sale to 77,546 shares after the last sale. For investors, director sales of this size can affect float and signal personal liquidity actions, though the Form 4 provides no explanation beyond execution details. Reporting appears timely with the Form executed on 09/11/2025.

Corporate Governance Expert

TL;DR: Compliance appears intact; disclosures include weighted-average prices and offer to provide trade-level detail.

The Form 4 discloses transaction codes, aggregate share amounts, and weighted-average prices and contains an explicit pledge to provide detailed trade-level information on request. The signature by an attorney-in-fact is present and the form includes explanatory notes for the multiple-trade executions. There is no indication in the filing of any derivative transactions or special trading plans disclosed on this Form 4.

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
Estimated average burden
hours per response:			0.5

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^*

Rothstein Adam

(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)
09/09/2025

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	09/09/2025		S		34,719(1)	D	$7.92	142,827	D
Common stock, $0.0001 par value	09/10/2025		S		55,000(2)	D	$7.8	87,827	D
Common stock, $0.0001 par value	09/10/2025		S		10,281(3)	D	$7.81	77,546	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. The sales were executed in multiple trades at prices ranging from $7.90 to $7.92. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

2. The sales were executed in multiple trades at prices ranging from $7.80 to $7.82. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

3. The sales were executed in multiple trades at prices ranging from $7.80 to $7.81. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

	/s/ James A. Heindlmeyer, as attorney-in-fact for Adam Rothstein	09/11/2025
	** 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 Reservoir Media (RSVR) insider Adam Rothstein report on Form 4?

The Form 4 reports director Adam Rothstein sold 34,719 shares on 09/09/2025 at a weighted average price of $7.92, and sold 65,281 shares on 09/10/2025 at weighted average prices of $7.80 and $7.81.

How many shares does Adam Rothstein beneficially own after the reported sales?

Following the reported sales the filing shows beneficial ownership of 77,546 shares after the final transaction.

Were the sales executed in single trades or multiple trades?

The filing states the sales were executed in multiple trades and the reported prices are weighted averages; the filer offers to provide specific trade-level details on request.

When were the transactions and when was the Form 4 signed?

Transactions occurred on 09/09/2025 and 09/10/2025; the Form 4 was signed by an attorney-in-fact on 09/11/2025.

Did the Form 4 disclose any derivative transactions or 10b5-1 plans?

No derivative securities, option exercises, or specific 10b5-1 plan references are disclosed on this Form 4.