Form 4: Hassan Khosrowshahi Increases Stake in Reservoir Media, Inc. Through Multiple Purchases

Hassan Khosrowshahi, a Director and potential 10% Owner of Reservoir Media, Inc., has increased his indirect stake in the company through a series of open market purchases.

Summary

• Hassan Khosrowshahi, a director of Reservoir Media, Inc., has been actively purchasing shares of the company's common stock.
• On February 29, 2024, he indirectly acquired 30,000 shares at a weighted average price of $7.2665 per share.
• On March 1, 2024, he indirectly acquired 40,000 shares at a weighted average price of $7.3293 per share.
• On March 4, 2024, he indirectly acquired 30,000 shares at a weighted average price of $7.2315 per share.
• These shares are held through Persis Holdings Ltd., where Khosrowshahi serves as chairman and controlling person.
• Khosrowshahi also indirectly owns 28,226,573 shares through Wesbild, Inc., where he also serves as chairman and controlling person.
• He disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to the insider buying activity, which suggests confidence in the company's prospects. However, the disclaimer of beneficial ownership tempers the enthusiasm.

Positives

• The director's purchases signal confidence in the company's future prospects.
• Increased insider ownership can be viewed favorably by investors.

Management Comments

• Mr. Khosrowshahi disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

Industry Context

Insider buying is often seen as a positive signal in the market, suggesting that those with the most knowledge of the company's prospects are optimistic about its future.

Stakeholder Impact

• Shareholders may view the insider buying as a positive signal.
• The increased stake of a director could lead to greater alignment of interests between management and shareholders.

Key Dates