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

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such historic grants as of the applicable modification date. (3) Amount reported in this column for Mr. McAndrew reflects commission payments earned by him pursuant to his employment agreement, as further described under the “Employment Agreements” section below. (4) Amounts reported in this column reflect (i) for Mr. Carrington, $99,996 in director cash fees paid to him for services as a director of the Company prior to his appointment as Chief Executive Officer, and (ii) for Messrs. Amthor, Blakely, and Froutan, company contributions to the Company’s 401(k) plan. ER Management (as defined below) also pays 100% of the premiums for Mr. McAndrew’s coverage under ER Management’s health and other insurance plans and the amount of such premiums which are in excess of the amount paid for other active employees is less than $10,000. No other NEOs received any additional compensation during 2025 for services as a director on the Board.

(5)	Mr. McAndrew served as Chief Executive Officer until June 2, 2025, following which he continues to
serve as an advisor to the Chief Executive Officer and a director on the Board. Amounts reported reflect his compensation as Chief Executive Officer and advisor, and he did not receive any additional compensation during 2025 for services as a
director on the Board.

Narrative Disclosure to Summary Compensation Table

Base Salary

Each
NEO’s base salary is a fixed component of compensation for performing specific job duties and functions. The Board generally reviews base salaries on an annual basis, taking into account market compensation rates and the NEO’s experience
and responsibilities. Mr. Carrington’s annual base salary was set in connection with his appointment as Chief Executive Officer at $500,000. Mr. McAndrew’s annual base salary was $500,000 in his capacity as Chief Executive
Officer and was initially set at $200,000 in connection with his transition to the role of advisor to the Chief Executive Officer.

At the beginning of 2025, annual base salary levels were $400,000 for Mr. Amthor, $339,900 for Mr. Blakely, and
$400,000 for Mr. Froutan. In order to prioritize and accelerate ER Holdings’ complete repayment of all indebtedness for borrowed money under a specified credit agreement with certain Irradiant Solutions Fund parties (the “Debt
Repayment”), in July 2025, such NEOs agreed to reduce their respective base salaries to $200,000 until the Debt Repayment has been achieved, following which each of their base salaries was increased to $350,000. The Debt Repayment was achieved
in November of 2025, and thus, the annual base salaries of such NEOs were increased to $350,000 at such time. In accordance with Mr. McAndrew’s employment agreement, his base salary was also increased to $275,000 upon the Debt Repayment.

Annual Bonus

ER Holdings (and its subsidiaries) has historically provided annual discretionary bonuses to its executives based on a holistic
review of individual and company performance. However, for the year ended December 31, 2025, to prioritize the Debt Repayment, the NEOs did not receive any 2025 annual bonuses. Instead, Messrs. Amthor, Blakely, and Froutan were each eligible to
receive a one-time Debt Repayment bonus equal to $18,750 multiplied by the number of calendar months that elapsed from June 1, 2025 through the date of the Debt Repayment, in order for ER Holdings to more
efficiently allocate cash flow prior to the Debt Repayment and to off-set the decreases in such NEOs’ base salaries during such time. The Debt Repayment occurred in November 2025, and thus, Messrs.
Amthor, Blakely, and Froutan each received such Debt Repayment bonuses in the amounts as set forth above in the Summary Compensation Table in the column entitled “Bonus.”

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Similarly, Mr. Carrington and Mr. McAndrew were also each eligible
to receive a cash bonus upon the Debt Repayment pursuant to their respective employment agreements, as further described under the “Employment Agreements” section below. Such NEOs also did not otherwise receive any annual bonuses for

Equity Compensation

Prior to this offering, our equity incentive program generally consisted of grants of “Compensatory Units” in ER
Holdings. The Compensatory Units are intended to qualify as “profits interests” for U.S. income tax purposes. The Compensatory Units are designed to align the NEOs’ interests with the interests of our equity holders and represent
interests in the profits of ER Holdings in excess of a certain “Threshold Amount” that acts similarly to a strike price for a stock option in that the holder will only realize value in excess of such amount. The Threshold Amount has
traditionally been reviewed and set in conjunction with a third-party valuation. Certain of our NEOs also historically received grants of profits interest units in ERock Holdings, Ltd. (an affiliated entity of ER Holdings) in 2015 and 2016, all of
which were fully vested prior to 2025.

Compensatory Units have been granted to new executives upon hire, or a short time
thereafter, and grant amounts have been determined after considering internal pay and equity alignment and external factors, including but not limited to the value of any forfeited compensation opportunities from a prior employer. Compensatory Units
are also granted from time-to-time for purposes related to recognition, promotion, retention, increased role or responsibilities and other factors. In connection with
their respective appointment and/or recognition of their performance, during 2025, each of Messrs. Amthor, Blakely, and Froutan received a grant of Compensatory Units. Mr. Carrington received a grant of Compensatory Units in connection with his
service on the Board and an additional grant upon his appointment as Chief Executive Officer. During 2025, the Threshold Amount of certain prior Compensatory Unit grants were adjusted in order to preserve the incentive and retention value of such
awards, including certain units held by Messrs. Amthor, Blakely, and Froutan, as further described in the footnotes to the Summary Compensation Table above.

Employment Agreements

John Carrington

In connection with his appointment as Chief Executive Officer, Enchanted Rock Management, LLC (“ER Management”), a
subsidiary of ER Holdings, entered into an employment agreement with Mr. Carrington pursuant to which he is eligible to receive (i) an annual base salary of $500,000, (ii) an annual bonus with a target equal to 100% of his base salary, and
(iii) a one-time bonus equal to $100,000 upon the Debt Repayment (which was paid in December of 2025 and was intended to be in lieu of the cash bonus upon Debt Repayment in his director letter agreement
described below). Such agreement has an initial term of one year and will automatically renew for additional one-year terms unless a non-renewal notice is provided no
later than 30 days prior to the expiration of the then-current term. Upon a termination of his employment by ER Management without Cause (including non-renewal of the agreement) or by him for Good Reason,
subject to his execution of a release of claims, he will be entitled to receive: (i) cash severance payments equal to 12 months of his base salary, payable in monthly installments over 12 months, (ii) a
pro-rated annual bonus for the year of termination based on actual performance of any performance metrics, (iii) any earned annual bonus for the year prior to the year of termination, and
(iv) payment of his full premiums for continuation of group health benefits under COBRA for up to 12 months.

“Cause” for purposes of Mr. Carrington’s employment agreement generally means: (i) his material
breach of the employment agreement, ER Holdings’ limited liability company agreement or any other written agreements with ER Holdings and its affiliates, (ii) his material breach of any written policy or code of conduct, (iii) his
gross negligence or willful misconduct in connection with the performance of his duties, or violation of any law applicable to the workplace, (iv) his breach of fiduciary duty, fraud, theft or embezzlement, (v) his commission, or
conviction or indictment of, or plea of nolo contendere to, any felony or any crime involving

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moral turpitude, or (vi) his willful failure or refusal, other than due to disability, to perform his obligations or to follow any lawful directive from the Board. If his actions or
omissions as set forth in clauses (i), (ii), (iii) or (vi) are curable, then he will receive a 30-day cure period.

“Good Reason” for purposes of Mr. Carrington’s employment agreement generally means: (i) a
material breach by ER Management of the employment agreement, (ii) a material diminution in his duties, title, authority or responsibilities, or (iii) a material reduction in his base salary (other than any
across-the-company reductions affecting substantially all of the senior executives and which reduction does not reduce his base salary by more than 10%). He must provide
ER Management a 30-day cure period following written notice of the condition constituting Good Reason.