In this case, Ragnvald is the mayor of a city, and we're the lord of a castle. Finally, the Wrong Government Type penalty occurs when a higher ranked (count or above) vassal is ruled by a liege with a different holding type. He also dislikes us because we're a foreigner. Short Reign is a negative modifier that is applied to new rulers, and it decays down to nothing over time. I've hovered over the -43 to see exactly why, and it displays this breakdown.
Since we only have one, it only brings up the character screen for Ragnvald:
Clicking on the icon repeatedly will cycle through the character screens of any offending characters. Specifically, we have one vassal who might revolt: the Lord Mayor of the county of Ormond. Hovering over the first icon shows that we have vassals that might revolt. Let's deal with these major alerts at the top of the screen before we unpause the game.
