ERock (EROC) CFO disposes 449,233 Class B Units at $19.85 in IPO-related deal
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ERock, Inc. Chief Financial Officer Robert Ian Blakely reported dispositions tied to the company’s initial public offering. He disposed of 449,233 Class B Units of Enchanted Rock Holdings, LLC to the issuer at $19.85 per unit, matching the IPO Class A share price paid by underwriters less his offering expenses. In connection with this sale, the issuer automatically cancelled 449,233 shares of Class B Common Stock held by him, leaving him with 4,487,528 shares following the transactions. Each Class B Unit had been exchangeable on a one-for-one basis into shares of Class A Common Stock or cash at the issuer’s election.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Blakely Robert Ian
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class B Units | 449,233 | $19.85 | $8.92M |
| Disposition | Class B Common Stock | 449,233 | $0.00 | -- |
Holdings After Transaction:
Class B Units — 4,487,528 shares (Direct, null);
Class B Common Stock — 4,487,528 shares (Direct, null)
Footnotes (1)
- Represents Class B Units of Enchanted Rock Holdings, LLC sold by the Reporting Person to the Issuer in connection with the closing of the Issuer's initial public offering ("IPO") at a price per Class B Unit of $19.85 (the per-share price paid by the underwriters for shares of the Class A Common Stock in the IPO, less the Reporting Person's share of offering expenses). In connection with such sale, the Issuer automatically cancelled an equivalent number of shares of Class B Common Stock held by the Reporting Person. The Class B Units are exchangeable, at the holder's option, on a one-for-one basis into shares of Class A Common Stock of the Issuer or cash (at the Issuer's election). Upon exchange of a Class B Unit, the corresponding share of Class B Common Stock will be automatically cancelled.
Key Figures
Class B Units disposed: 449,233 units
Price per Class B Unit: $19.85
Class B Common shares cancelled: 449,233 shares
+2 more
5 metrics
Class B Units disposed
449,233 units
Sold to issuer in connection with IPO
Price per Class B Unit
$19.85
Per-share price paid by underwriters for Class A in IPO, less expenses
Class B Common shares cancelled
449,233 shares
Automatically cancelled upon sale of Class B Units
Shares following transaction
4,487,528 shares
Total shares held after dispositions
Exchange ratio
1 Class B Unit : 1 Class A share
Class B Units exchangeable into Class A Common Stock or cash
Key Terms
Class B Units, initial public offering ("IPO"), Class A Common Stock, Class B Common Stock, +1 more
5 terms
Class B Units financial
"Represents Class B Units of Enchanted Rock Holdings, LLC sold by the Reporting Person"
initial public offering ("IPO") financial
"sold by the Reporting Person to the Issuer in connection with the closing of the Issuer's initial public offering ("IPO")"
A company’s first sale of stock to the public through a stock exchange, marking its move from private ownership to public ownership. For investors it creates a new opportunity to buy a stake early, sets a market price for the business, and often brings higher attention and volatility—think of a local bakery that used to be family-run finally selling shares so the whole neighborhood can own a piece; that change affects value, control and risk.
Class A Common Stock financial
"the per-share price paid by the underwriters for shares of the Class A Common Stock in the IPO"
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.
Class B Common Stock financial
"the Issuer automatically cancelled an equivalent number of shares of Class B Common Stock held by the Reporting Person"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
FAQ
What insider transaction did ERock (EROC) report for its CFO?
ERock’s Chief Financial Officer Robert Ian Blakely disposed of 449,233 Class B Units and an equivalent 449,233 shares of Class B Common Stock. The transactions were issuer dispositions connected to the closing of ERock’s initial public offering at a price of $19.85 per Class B Unit.
At what price were the ERock (EROC) Class B Units disposed of?
The Class B Units were sold to the issuer at $19.85 per unit. This matched the per-share price underwriters paid for Class A Common Stock in the IPO, reduced by Robert Ian Blakely’s share of offering expenses as described in the footnote.