EagleRock Land director buys 250,000 Class A shares

EagleRock Land director Wallace Michael Wayne reported an open-market purchase of 250,000 Class A shares at $18.50 per share.

Rhea-AI Filing Summary

EagleRock Land director Wallace Michael Wayne reported an open-market purchase of 250,000 Class A shares at $18.50 per share. The shares were acquired in EagleRock Land’s initial public offering that closed on May 15, 2026 and are held indirectly through Wallace Family Partnership, LP.

Wayne and his wife together control the general partner of Wallace Family Partnership and may exercise voting and investment control over these shares, though he disclaims beneficial ownership beyond his pecuniary interest.

Insights

Insider trading analyst

Director makes a sizable open-market IPO purchase via a family partnership.

Wallace Michael Wayne, a director of EagleRock Land, bought 250,000 Class A shares at $18.50 per share in the company’s initial public offering that closed on May 15, 2026. This is an open-market or IPO allocation purchase, not a stock grant.

The shares are held indirectly through Wallace Family Partnership, LP, where Wayne and his wife control the general partner and may direct voting and investment decisions. He disclaims beneficial ownership beyond his pecuniary interest, which is standard language limiting economic attribution.

The transaction leaves him with 250,000 Class A shares reported as indirectly owned following the purchase. There are no derivative positions listed in this filing, so this appears as a straightforward equity purchase rather than part of an options exercise strategy.

Insider Trade Summary

Net Buyer: 250,000 shares

Net Buy 1 txn

Insider Wallace Michael Wayne

Role Director

Bought 250,000 shs ($4.63M)

Type	Security	Shares	Price	Value
Purchase	Class A shares	250,000	$18.50	$4.63M

Holdings After Transaction: Class A shares — 250,000 shares (Indirect, See Footnote)

Footnotes (2)

1. F1. Represents Class A shares representing limited liability company interests (the "Class A shares") of EagleRock Land, LLC (the "Issuer"), purchased by the Reporting Person in the Issuer's initial public offering, which closed on May 15, 2026.
2. F2. Includes 250,000 Class A shares which are held by Wallace Family Partnership, LP ("Wallace Family Partnership"). The Reporting Person is a limited partner of Wallace Family Partnership, and the Reporting Person and his wife each individually own 50% of the ownership interests in Wallace Family Partnership. The Reporting Person and his wife are both managers of, and each individually own 50% of the ownership interest of, the sole general partner of Wallace Family Partnership. As a result of the foregoing, the Reporting Person may exercise voting and investment control over the Class A shares held by Wallace Family Partnership and may be deemed to be the beneficial owner thereof. The Reporting Person disclaims beneficial ownership of Class A shares in excess of his pecuniary interest therein, if any.

Key Figures

Shares purchased: 250,000 shares Purchase price per share: $18.50/share Shares owned after transaction: 250,000 shares

3 metrics

Shares purchased 250,000 shares Class A shares bought on May 15, 2026

Purchase price per share $18.50/share Open-market or IPO allocation purchase

Shares owned after transaction 250,000 shares Indirect holdings reported following transaction

Key Terms

initial public offering, limited liability company interests, limited partner, beneficial owner, +1 more

5 terms

initial public offering financial

"purchased by the Reporting Person in the Issuer's initial public offering, which closed on May 15, 2026"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

limited liability company interests financial

"Represents Class A shares representing limited liability company interests of EagleRock Land, LLC"

limited partner financial

"The Reporting Person is a limited partner of Wallace Family Partnership"

A limited partner is an investor in a pooled investment vehicle—such as a private equity, venture capital, or real estate fund—who provides capital but does not take part in day‑to‑day management and whose financial responsibility is capped at the amount invested. For investors, being a limited partner matters because it defines how much control they have, how much risk they bear, and how returns are distributed; think of a limited partner as a silent co‑owner who shares in profits and losses while leaving operations to the fund managers.

beneficial owner financial

"may be deemed to be the beneficial owner thereof"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

pecuniary interest financial

"disclaims beneficial ownership of Class A shares in excess of his pecuniary interest therein"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did EagleRock Land (EROK) report for Wallace Michael Wayne?

EagleRock Land director Wallace Michael Wayne reported buying 250,000 Class A shares. The shares were purchased at $18.50 each in the company’s initial public offering that closed on May 15, 2026, and are reported as indirectly owned through Wallace Family Partnership, LP.

At what price did Wallace Michael Wayne acquire EagleRock Land (EROK) shares?

He acquired the shares at a price of $18.50 per Class A share. This transaction was part of EagleRock Land’s initial public offering that closed on May 15, 2026, and reflects an open-market or IPO allocation purchase rather than an equity award.

How many EagleRock Land (EROK) shares does Wallace Michael Wayne report owning after this transaction?

Following the transaction, Wayne reports indirect ownership of 250,000 Class A shares. These shares are held through Wallace Family Partnership, LP, where he and his wife control the general partner, giving them potential voting and investment control over the partnership’s holdings.

How are Wallace Michael Wayne’s EagleRock Land (EROK) shares held?

The 250,000 Class A shares are held indirectly by Wallace Family Partnership, LP. Wayne is a limited partner, and he and his wife each own 50% of the general partner, allowing them to exercise voting and investment control over the partnership’s EagleRock Land shares.

What does Wallace Michael Wayne’s beneficial ownership disclaimer for EagleRock Land (EROK) mean?

He states he may be deemed a beneficial owner because of control over the partnership, but disclaims ownership beyond his pecuniary interest. This common legal wording clarifies he should not be treated as owning more than the economic stake he ultimately holds in the shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/19/2026 - 06:41 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wallace Michael Wayne

(Last) (First) (Middle)

C/O EAGLEROCK LAND, LLC

9655 KATY FREEWAY, SUITE 375

(Street)

HOUSTON TEXAS 77024

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
EagleRock Land, LLC [ EROK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A shares	05/15/2026		P		250,000(1)	A	$18.5	250,000	I	See Footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents Class A shares representing limited liability company interests (the "Class A shares") of EagleRock Land, LLC (the "Issuer"), purchased by the Reporting Person in the Issuer's initial public offering, which closed on May 15, 2026.

2. Includes 250,000 Class A shares which are held by Wallace Family Partnership, LP ("Wallace Family Partnership"). The Reporting Person is a limited partner of Wallace Family Partnership, and the Reporting Person and his wife each individually own 50% of the ownership interests in Wallace Family Partnership. The Reporting Person and his wife are both managers of, and each individually own 50% of the ownership interest of, the sole general partner of Wallace Family Partnership. As a result of the foregoing, the Reporting Person may exercise voting and investment control over the Class A shares held by Wallace Family Partnership and may be deemed to be the beneficial owner thereof. The Reporting Person disclaims beneficial ownership of Class A shares in excess of his pecuniary interest therein, if any.

	/s/ Robert W. Hunt Jr., Attorney-In-Fact	05/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)