RSVR Form 4: Director now holds 172,376 Reservoir Media shares

Rhea-AI Filing Summary

Reservoir Media, Inc. (RSVR) reported an insider equity award for a non-employee director. On 11/21/2025, the director received 1,712 Deferred Stock Units (DSUs) related to quarterly board compensation, instead of taking this compensation in cash. Each DSU is economically equivalent to one share of Reservoir Media common stock at a reference price of $7.30, the closing price on the grant date.

After this transaction, the reporting person beneficially owns 172,376 shares of common stock. The DSUs are scheduled to be settled in shares of common stock on January 2, 2026, aligning the director’s compensation more closely with shareholder value over time.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Field Ezra S.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common stock, $0.0001 par value	1,712	$7.30	$12K

Holdings After Transaction: Common stock, $0.0001 par value — 172,376 shares (Direct)

Footnotes (1)

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 January 2, 2026 (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 $7.30, which was the closing price of the Issuer's Common Stock on the date of grant.

Form 4 Insider Transactions: What Each Field Means →

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^*

Field Ezra S.

(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)		1,712(2)	A	$7.3	172,376	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 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 January 2, 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 Ezra S. Field	11/25/2025
	** 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 insider transaction did Reservoir Media (RSVR) report in this Form 4?

The company reported that a non-employee director received 1,712 Deferred Stock Units (DSUs) on 11/21/2025 as part of quarterly board compensation, elected in equity instead of cash.

How many Reservoir Media (RSVR) shares does the reporting person own after this transaction?

Following the DSU grant, the reporting person beneficially owns 172,376 shares of Reservoir Media common stock.

What is a DSU in the context of Reservoir Media (RSVR)?

A DSU, or Deferred Stock Unit, in this case is the economic equivalent of one share of Reservoir Media common stock, awarded under the company’s 2021 Omnibus Incentive Plan.

At what price were the DSUs for Reservoir Media (RSVR) calculated?

The number of DSUs granted was based on a stock price of $7.30, which was the closing price of Reservoir Media common stock on the grant date.

When will the Reservoir Media (RSVR) DSUs be settled into shares?

The DSUs granted to the director are scheduled to be settled in shares of common stock on January 2, 2026.

Why did the Reservoir Media (RSVR) director receive DSUs instead of cash?

The reporting person elected to receive his quarterly compensation in DSUs in lieu of cash, aligning compensation with the performance of Reservoir Media’s stock.

Does the Reservoir Media (RSVR) director fully own all underlying DSU shares?

The reporting person disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest in them.