ERock director reports Class M unit holdings
ERock, Inc. director Dan Brouillette filed an initial Form 3 reporting derivative holdings.
Rhea-AI Filing Summary
ERock, Inc. director Dan Brouillette filed an initial Form 3 reporting derivative holdings. He holds Class M Units that are profits interests in ER Holdings, which are convertible into Class B Units and ultimately into Class A Common Stock of ERock.
These Class M Units are tied to 580,107 underlying shares of Class A Common Stock at an exercise price of $0.1500 per underlying share. According to the disclosure, 176,880 Class M Units have vested, and the remaining units vest in 25 equal monthly installments from June 18, 2026 through June 18, 2028, subject to his continuous service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Brouillette Dan
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class M Units | -- | -- | -- |
Holdings After Transaction:
Class M Units — 580,107 contracts (Direct)
Footnotes (3)
- F1. Reflect Class M Units ("Class M Units") of ER Holdings, which are "profits interests" for U.S. federal income tax purposes. Vested Class M Units are convertible, at the holder's option, into a number of Class B Units generally equal to the product of (a) the number of vested Class M Units to be converted, and (b) a fraction, the numerator of which is the amount that would be distributed in respect of the vested Class M Unit (taking into account the applicable threshold amount), and the denominator of which is the amount that would be distributed in respect of a Class B Unit, in each case if, immediately before the exchange, ER Holdings were to sell all of its assets for their fair market values, pay any liabilities, and distribute the proceeds available for distribution, subject to certain adjustments. Class M Units have no expiration date.
- F2. Class B Units are exchangeable, at the holder's option, on a one-for-one basis for shares of Class A Common Stock of the Issuer or cash (at the Issuer's election).
- F3. 176,880 of these Class M Units have vested, and the remaining Class M Units vest in 25 equal monthly installments on the 18th day of each calendar month commencing June 18, 2026 and ending June 18, 2028, subject to the Reporting Person's continuous service to the Issuer.
Key Figures
Underlying Class A shares: 580,107 shares
Exercise price: $0.1500 per share
Vested Class M Units: 176,880 units
+2 more
5 metrics
Underlying Class A shares
580,107 shares
Underlying shares tied to Class M Units
Exercise price
$0.1500 per share
Conversion or exercise price for Class M Units
Vested Class M Units
176,880 units
Class M Units already vested
Vesting schedule duration
25 monthly installments
From June 18, 2026 to June 18, 2028
Total Class M Units position
580,107 units
Total derivative position following reported holding
Key Terms
Class M Units, profits interests, Class B Units, Class A Common Stock, +1 more
5 terms
Class M Units financial
"Reflect Class M Units ("Class M Units") of ER Holdings, which are "profits interests""
profits interests financial
"Class M Units of ER Holdings, which are "profits interests" for U.S. federal income tax purposes"
Class B Units financial
"Vested Class M Units are convertible, at the holder's option, into a number of Class B Units"
Class A Common Stock financial
"Class B Units are exchangeable, at the holder's option, on a one-for-one basis for shares of Class A Common Stock"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
vesting financial
"176,880 of these Class M Units have vested, and the remaining Class M Units vest in 25 equal monthly installments"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does ERock (EROC) director Dan Brouillette report on this Form 3?
Dan Brouillette reports his initial holdings of Class M Units, which are derivative interests tied to ERock’s Class A Common Stock. These units represent profits interests in ER Holdings and are convertible into equity under specified conditions.
What is the exercise price of the Class M Units reported for ERock (EROC)?
The Class M Units have an exercise price of $0.1500 per underlying share of Class A Common Stock. This price is referenced as the conversion or exercise price associated with the derivative position held by Dan Brouillette.
How many of ERock (EROC) director Brouillette’s Class M Units are vested?
The disclosure states that 176,880 of the Class M Units have vested. These vested units can participate in the conversion mechanism outlined, subject to the distribution-based formula and other conditions described in the footnotes.
What is the vesting schedule for the unvested Class M Units at ERock (EROC)?
The remaining Class M Units vest in 25 equal monthly installments on the 18th day of each month from June 18, 2026 through June 18, 2028. Vesting is conditioned on Dan Brouillette’s continuous service to the company.
How do Class M Units eventually relate to ERock (EROC) Class A Common Stock?
Vested Class M Units can be converted into Class B Units based on a distribution formula. Class B Units are then exchangeable, at the holder’s option, one-for-one into ERock Class A Common Stock or cash, at the issuer’s election.
AI-generated analysis. How Rhea-AI works. Not financial advice.
