Cactus Hill & "Lesson Learned" Drone Mishap - South Central Utah

Here is what the FAA states in their Part 107 rules about reporting an accident:

When do I need to report an accident?

The remote pilot in command (Which I was) of the small UAS (Unmanned Aerial System) or drone is required to report an accident to the FAA within 10 days if it results in at least serious injury to any person or any loss of consciousness, or if it causes damage to any property (other than the UAS or drone) in excess of $500 to repair or replace the property (whichever is lower). Actual section specifying this is shown below.

Part 107.9 Safety Event Reporting

No later than 10 calendar days after an operation that meets the criteria of either paragraph (a) or (b) of this section, a remote pilot in command must report to the FAA, in a manner acceptable to the Administrator, any operation of the small unmanned aircraft involving at least:
(a) Serious injury to any person or any loss of consciousness; or
(b) Damage to any property, other than the small unmanned aircraft, unless one of the following conditions is satisfied:
(1) The cost of repair (including materials and labor) does not exceed $500; or
(2) The fair market value of the property does not exceed $500 in the event of total loss.