Form 4: Director Ryan Taylor Acquires RSVR Stock Units

Reservoir Media Director Ryan P. Taylor acquired 654 Deferred Stock Units as part of his quarterly compensation, settling in shares by July 2026.

Summary

• Ryan P. Taylor, a Director of Reservoir Media, Inc. (RSVR), acquired 654 Deferred Stock Units (DSUs) on February 20, 2026.
• These DSUs were awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan as quarterly compensation for his service as a non-employee director.
• Taylor elected to receive DSUs in lieu of cash compensation, with each DSU valued at $7.64, the closing price on the grant date.
• The DSUs are scheduled to settle in shares of common stock on July 28, 2026.
• Taylor's direct beneficial ownership of RSUs and DSUs following this transaction is 13,103 units.
• He also holds indirect beneficial ownership of 179,389 shares through Richmond Hill Capital Partners, LP, 418,576 shares through Essex Equity Joint Investment Vehicle, LLC, and 13,652,372 shares through ER Reservoir, LLC.
• Taylor disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, as a director's election to receive equity over cash compensation suggests confidence in the company's future performance, although it is a routine compensation event.

Positives

• Director Ryan P. Taylor is receiving equity-based compensation (DSUs), which aligns his interests with shareholders.
• The election to receive DSUs instead of cash indicates confidence in the company's future stock performance.
• The transaction is part of a pre-planned arrangement under Rule 10b5-1(c), indicating structured and transparent compensation.

Future Outlook

The 654 Deferred Stock Units acquired by Director Ryan P. Taylor are scheduled to settle into shares of common stock on July 28, 2026. This indicates a future conversion of equity compensation.

Management Comments

• 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.
• The Reporting Person disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

Industry Context

StockSavvy.ai notes that equity compensation, such as Deferred Stock Units (DSUs), is a common practice across industries, particularly for non-employee directors. This aligns director incentives with long-term shareholder value, a standard corporate governance practice in the media and entertainment sector where Reservoir Media operates. The use of a Rule 10b5-1(c) plan for this transaction reflects a commitment to transparent and pre-scheduled insider transactions, a best practice for managing potential insider trading concerns.

Comparison to Industry Standards

• The practice of compensating non-employee directors with equity (DSUs) is a standard in publicly traded companies, including peers in the music and entertainment industry like Warner Music Group (WMG) and Universal Music Group (UMG), which also utilize various forms of stock-based awards to align director interests with shareholders.
• The specific DSU grant value of $7.64 per unit is tied to the market price of RSVR stock, a common method for valuing such awards.
• The use of a Rule 10b5-1(c) plan for pre-scheduled transactions is a widely adopted corporate governance best practice, seen in companies across all sectors, including technology and media, to provide an affirmative defense against insider trading allegations.

Corporate Governance

Related Party Transactions

• Ryan P. Taylor, as a director, is receiving compensation from Reservoir Media, Inc. in the form of DSUs.
• Taylor directs the transfer of shares from settled RSUs and DSUs into the account of ER Reservoir, LLC (The Fund), where he is the manager of the general partner of a manager.
• Taylor has indirect beneficial ownership through entities where he holds managing roles or equity interests (Richmond Hill Capital Partners, LP and Essex Equity Joint Investment Vehicle, LLC).

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholders through equity compensation. The director's decision to take stock over cash may be seen as a positive signal of confidence.

Next Steps

• The 654 Deferred Stock Units will settle into shares of common stock on July 28, 2026.

Key Dates

Recommendation

This Form 4 filing details a routine equity compensation award to a non-employee director, which is an expected part of corporate governance and compensation practices. While the director's choice to receive stock over cash can be interpreted as a positive signal of confidence, it does not represent a significant new investment or a material change in the company's operational or financial outlook. Therefore, it is unlikely to cause a significant shift in the stock's valuation, warranting a 'hold' recommendation based solely on this filing.

Keywords

Reservoir Media Inc., RSVR, Ryan P. Taylor, Director Compensation, Deferred Stock Units, DSUs, Insider Trading, SEC Form 4, Equity Compensation, Rule 10b5-1(c)