SEC Filing Document

Company: ERock, Inc.
Ticker: 
CIK: 2110029
Filing Type: DRS
Document Type: DRS
Date Filed: 2026-02-17
Accession Number: 0001193125-26-054926
Exchange: 
SIC Code: 3620
SIC Description: Electrical Industrial Apparatus
URL: https://www.sec.gov/Archives/edgar/data/2110029/000119312526054926/filename1.htm

Chunk 63 of 96
Word Count: 1495
Character Count: 9397

Document Content:

29, 2028. November 26, 2025 The unvested units will vest monthly on the monthly anniversary of the grant date through November 26, (6) The Compensatory Units reported for Mr. Blakely will vest as reflected below subject to his continued service through each vesting date. Grant Date Vesting Schedule April 1, 2023 144 units will vest upon this offering, a Company Sale, or a Distribution Achievement and the remaining unvested units will vest monthly at the end of each month through March of 2027. July 29, 2025 The unvested units will vest monthly on the monthly anniversary of the grant date through July 29, 2028. November 26, 2025 The unvested units will vest monthly on the monthly anniversary of the grant date through November 26, (7) The Compensatory Units reported for Mr. Froutan will vest as reflected below subject to his continued services through each vesting date. Grant Date Vesting Schedule

May 16, 2022 The unvested units will vest monthly on the monthly anniversary of the grant date through May 16, 2026.

June 1, 2024 520 units will vest upon this offering, a Company Sale, or a Distribution Achievement and the remaining unvested units will
vest monthly at the end of each month through May of 2028.

July 29, 2025 The unvested units will vest monthly on the monthly anniversary of the grant date through July 29, 2028.

November 26, 2025 The unvested units will vest monthly on the monthly anniversary of the grant date through November 26,

Table of Contents

Additional Narrative Disclosure

Retirement Benefits

Each of our NEOs are eligible to participate in our 401(k) plan, which is a broad-based,
tax-qualified defined contribution retirement plan in which all of our U.S. employees who meet the age and service requirements can participate. Under the 401(k) plan, we make matching contributions equal to a
100% match on up to 3% of employee contributions and a 50% match on the next 2% of employee contributions, subject to certain limits under the Internal Revenue Code of 1986, as amended (the “Code”). We do not sponsor any non-qualified deferred compensation plans, supplemental retirement plans, or defined benefit plans.

Potential
Payments Upon Termination or Change in Control

Pursuant to their respective employment agreements,
(i) Mr. Carrington is entitled to receive severance payments upon a termination without Cause or resignation for Good Reason, and (ii) Mr. McAndrew is entitled to a notice period upon termination and certain payments following
termination in the event ER Management elects to extend the non-compete period under his agreement, in each case, as described above under “Employment Agreements.”

In addition, ER Management maintains the Enchanted Rock Management, LLC Executive Severance Plan (the “Severance
Plan”) under which Messrs. Amthor, Blakely, and Froutan may receive severance benefits upon a termination of their employment by ER Management without Cause. Upon such a qualifying termination, subject to the NEO’s execution of a release
of claims, such NEO would receive (i) cash severance payments equal to 12 months of base salary for Mr. Amthor and six months of base salary for Messrs. Blakely and Froutan, payable on a monthly basis, (ii) any earned annual bonus for
the fiscal year prior to the year of termination, (iii) a pro-rated annual bonus for the year of termination based on actual performance of any performance metrics, and (iv) company-paid COBRA
premiums for continuation of group health benefits for 12 months for Mr. Amthor and six months for Messrs. Blakely and Froutan.

Under the Severance Plan, “Cause” is generally defined as the NEO’s (i) material breach of any written
policy or code of conduct applicable to the NEO, (ii) gross negligence or willful misconduct in connection with the performance of the NEO’s duties, or violation of any law applicable to the workplace, (iii) breach of fiduciary duty,
fraud, theft or embezzlement, (iv) commission, conviction or indictment of, or plea of nolo contendere to, any felony (or state law equivalent) or any crime involving moral turpitude, or (v) willful failure or refusal, other than due to
disability, to perform the NEO’s obligations pursuant to the Severance Plan, or to follow any lawful directive from the Board.

Compensatory
Units

As noted in the “Outstanding Equity Awards” table above, certain outstanding Compensatory Units
previously granted to Messrs. Amthor, Blakely, and Froutan vest 50% on a time-based schedule in equal monthly installments and 50% on the earlier to occur of a Company Sale, a Distribution Achievement or an IPO. This offering is not expected to
constitute a Company Sale or Distribution Achievement but will constitute an IPO for purposes of such grants.

addition, upon a Company Sale, all outstanding Compensatory Units granted to our NEOs will be subject to one of the following treatments in accordance with the applicable grant agreement: (i) accelerate upon a Company Sale with respect to 50%
of the time-based Compensatory Units which are then unvested (with the remaining unvested Compensatory Units forfeited), (ii) accelerate upon a Company Sale with respect to 50% of all of the time-based Compensatory Units subject to such grant (if
not already then-vested) with the remaining unvested Compensatory Units continuing to vest based on the earlier of (x) the original vesting schedule, or (y) a monthly vesting schedule during the
one-year period following the Company Sale (subject to full acceleration upon a subsequent termination without Cause), (iii) continue to vest in accordance with its terms subject to full acceleration upon a
subsequent termination without Cause (or resignation for Good Reason for Mr. Carrington), or (iv) accelerate in full upon the Company Sale.

Table of Contents

For purposes of the Compensatory Units:

• “Cause” generally means the holder’s: (i) refusal or neglect to perform substantially
all his duties after written notice and a 10-day opportunity to cure, (ii) dishonesty, incompetence, gross negligence, willful misconduct or breach of fiduciary duty, (iii) conviction of or entering
a plea of guilty or nolo contendere to a crime constituting a felony or willful violation of any law, rule, or regulation (other than a traffic violation or other offense or violation outside of the course of employment which in no way adversely
affects ER Holdings and its subsidiaries or the ability of holder to perform his or her duties), (iv) attempt to willfully obtain any personal profit from any transaction in which ER Holdings or any of its subsidiaries has an interest which is
adverse to the interests of ER Holdings or its subsidiaries or any other act of fraud or embezzlement, (v) reporting to work under the influence of alcohol or illegal drugs or repeatedly using alcohol or illegal drugs in such a fashion as to
cause ER Holdings economic harm, (vi) intentional act or intentional omission by holder aiding or abetting a competitor, supplier or customer to the disadvantage or detriment of ER Holdings, or (vii) material breach of any covenant or
agreement with ER Holdings or any of its subsidiaries.

• A “Company Sale” is generally defined as the consummation of: (i) a merger or consolidation
of ER Holdings except (a) any merger or consolidation solely between ER Holdings and a wholly-owned subsidiary or parent entity, or (b) any such merger or consolidation in which the units of ER Holdings outstanding immediately prior to
such merger or consolidation continue to represent at least a majority, by voting power, of the outstanding equity securities of the surviving or resulting entity; (ii) the sale, transfer, exclusive license or other disposition of all or
substantially all the assets of ER Holdings and its subsidiaries except (a) where such sale, transfer, exclusive license or other disposition is to wholly-owned subsidiaries of ER Holdings, or (b) if the units outstanding immediately prior
to such transaction continue to represent at least a majority, by voting power, of the outstanding equity securities of the surviving or resulting entity; (iii) a sale by members of ER Holdings of outstanding units representing a majority of
the aggregate number of common units and preferred units outstanding as of immediately prior to such transaction, except where the holders immediately prior to such transaction continue to hold at least a majority, by voting power, of the
outstanding equity securities of the acquiring entity; or (iv) an issuance by ER Holdings of units which, after giving effect to such issuance, represent a majority of the aggregate number of common units outstanding as of immediately after
such issuance.

• A “Distribution Achievement” generally means an aggregate amount has been distributed to the
holders of Series A Preferred Units of ER Holdings equal to two times a specified “Preferred Issue Price” as applicable to such preferred unit in accordance with ER Holdings’ limited liability company agreement.

• An “IPO” generally means a firm commitment underwritten public offering pursuant to an effective
registration statement filed under the Securities Act covering the offer and sale of ER Holdings’ common units (or such class of securities into which the common units are converted into upon the conversion of ER Holdings into a C-corporation) for the account of ER Holdings.

Transaction Bonuses