Form 4: Reservoir Media Director Ryan P. Taylor Acquires Deferred Stock Units

Director Ryan P. Taylor acquired 639 Deferred Stock Units (DSUs) of Reservoir Media, Inc. as part of his quarterly compensation.

Summary

• On June 7, 2024, Ryan P. Taylor, a director of Reservoir Media, Inc., acquired 639 Deferred Stock Units (DSUs) at a price of $7.82 per unit.
• These DSUs were awarded under the company's 2021 Omnibus Incentive Plan as part of his quarterly compensation for serving as a non-employee director.
• Taylor elected to receive his compensation in DSUs instead of cash.
• The DSUs will be settled in shares of Common Stock on July 28, 2025.
• Following the transaction, Taylor directly owns 18,841 shares, and indirectly owns 179,389 shares through Richmond Hill Capital Partners, LP, 418,576 shares through Essex Equity Joint Investment Vehicle, LLC, and 13,620,418 shares through ER Reservoir, LLC.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director is increasing their stake in the company, which is generally a good sign. The transaction is part of a pre-existing compensation plan, so it's not unexpected.

Positives

• Director's decision to take compensation in DSUs shows confidence in the company's future performance.
• The acquisition increases Taylor's stake in the company, aligning his interests with those of other shareholders.

Future Outlook

The DSUs will be settled in shares of Common Stock on July 28, 2025.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Directors often receive stock-based compensation to align their interests with shareholders.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across the industry to align their interests with shareholders.
• Companies like Warner Music Group and Universal Music Group also utilize stock options and restricted stock units as part of their director compensation packages.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates