diff --git a/libs/ardour/ardour/session.h b/libs/ardour/ardour/session.h
index 2d0b9728f4..b53470da6b 100644
--- a/libs/ardour/ardour/session.h
+++ b/libs/ardour/ardour/session.h
@@ -1345,7 +1345,7 @@ protected:
 	bool should_roll_after_locate () const;
 	double speed() const { return _transport_speed; }
 	samplepos_t position() const { return _transport_sample; }
-	void set_transport_speed (double speed, bool as_default);
+	void set_transport_speed (double speed, bool as_default, bool at_next_start);
 	bool need_declick_before_locate () const;
 
 private:
diff --git a/libs/ardour/ardour/transport_api.h b/libs/ardour/ardour/transport_api.h
index 3d78b30e52..6fac31ac53 100644
--- a/libs/ardour/ardour/transport_api.h
+++ b/libs/ardour/ardour/transport_api.h
@@ -41,7 +41,7 @@ class LIBARDOUR_API TransportAPI
 	virtual void schedule_butler_for_transport_work () = 0;
 	virtual bool should_roll_after_locate () const = 0;
 	virtual double speed() const = 0;
-	virtual void set_transport_speed (double speed, bool as_default) = 0;
+	virtual void set_transport_speed (double speed, bool as_default, bool at_next_start) = 0;
 	virtual samplepos_t position() const = 0;
    	virtual bool need_declick_before_locate () const = 0;
 };
diff --git a/libs/ardour/session_transport.cc b/libs/ardour/session_transport.cc
index 32cf5a942d..a9cf463db4 100644
--- a/libs/ardour/session_transport.cc
+++ b/libs/ardour/session_transport.cc
@@ -370,7 +370,7 @@ Session::post_locate ()
  *  @param speed New speed
  */
 void
-Session::set_transport_speed (double speed, bool as_default)
+Session::set_transport_speed (double speed, bool as_default, bool at_next_start)
 {
 	ENSURE_PROCESS_THREAD;
 	DEBUG_TRACE (DEBUG::Transport, string_compose ("@ %1 Set transport speed to %2 from %3 (es = %4) (def %5), as_default %6\n", _transport_sample, speed, _transport_speed, _engine_speed, _default_transport_speed, as_default));
diff --git a/libs/ardour/transport_fsm.cc b/libs/ardour/transport_fsm.cc
index e807035c7e..9486452624 100644
--- a/libs/ardour/transport_fsm.cc
+++ b/libs/ardour/transport_fsm.cc
@@ -638,36 +638,57 @@ TransportFSM::enqueue (Event* ev)
 void
 TransportFSM::set_speed (Event const & ev)
 {
-	bool initial_reverse = false;
-
 	assert (ev.speed != 0.0);
 
-	DEBUG_TRACE (DEBUG::TFSMState, string_compose ("%1, target speed %2 MRRS %3 state %4\n", (ev.speed == 0.0 ? "stopping" : "continue"), ev.speed, most_recently_requested_speed, current_state()));
-	api->set_transport_speed (ev.speed, ev.as_default);
+	bool initial_reverse = false;
+	bool must_reverse = false;
 
-	const double mrrs = most_recently_requested_speed;
+	DEBUG_TRACE (DEBUG::TFSMState, string_compose ("::set_speed(): target speed %1 MRRS %2 state %3\n", ev.speed, most_recently_requested_speed, current_state()));
 
-	/* corner case: first call to ::set_speed() has a negative
-	 * speed
-	 */
+	/* This "must_roll" value is a bit complicated to explain. If we were moving at anything other than normal speed+direction,
+	   and then stop, and reset-default-speed-on-stop is enabled, Session::stop_transport() will queue a SetSpeed
+	   request to restore the default speed to 1.0. However, because of the stop in progress, the SetSpeed event
+	   will be deferred during the stop. Eventually, we will handle it, and call this method. If we need to reverse
+	   direction, the locate will end up using compute_should_roll(), with rolling state already set to DeclickToLocate.
+
+	   If we pass in RollIfAppropriate as the after-locate roll disposition, the logic there will conclude that we should roll.
+	   This logic is correct in cases where we do a normal locate, but not for a locate-for-reverse when stopping.
+
+	   So, instead of using RollIfAppropriate, determine here is our after-locate state should be rolling or stopped, and pass
+	   MustRoll or MustStop to the locate request. This will get compute_should_roll() to do the right thing, and once the locate
+	   is complete, we will be in the correct state.
+	*/
+
+
+	const bool must_roll = rolling();
 
 	if (most_recently_requested_speed == std::numeric_limits<double>::max()) {
 		/* have never rolled yet */
 		initial_reverse = true;
 	}
 
+	if (ev.speed * most_recently_requested_speed < 0.0 || initial_reverse) {
+		must_reverse = true;
+	}
+
+	api->set_transport_speed (ev.speed, ev.as_default, !rolling() || must_reverse);
+
+	/* corner case: first call to ::set_speed() has a negative
+	 * speed
+	 */
+
 	most_recently_requested_speed = ev.speed;
 
-	if (ev.speed * mrrs < 0.0 || initial_reverse) {
+	if (must_reverse) {
 
 		/* direction change */
 
-		DEBUG_TRACE (DEBUG::TFSMState, string_compose ("switch-directions, target speed %1 MRRS %2 state %3 IR %4\n", ev.speed, mrrs, current_state(), initial_reverse));
+		DEBUG_TRACE (DEBUG::TFSMState, string_compose ("switch-directions, target speed %1 state %2 IR %3\n", ev.speed, current_state(), initial_reverse));
 
 		last_speed_request = ev;
 		transition (Reversing);
 
-		Event lev (Locate, api->position(), RollIfAppropriate, false, false, true);
+		Event lev (Locate, api->position(), must_roll ? MustRoll : MustStop, false, false, true);
 
 		transition (DeclickToLocate);
 		start_declick_for_locate (lev);