Coats Richard Harlan 4
4 · EagleRock Land, LLC · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
EagleRock Land Director Richard Coats Receives Award of Shares
What Happened
Richard H. Coats, a director of EagleRock Land, LLC (EROK), was issued awards on 2026-05-15 consisting of 8,770,275 and 743,745 interests reported as Class B shares and corresponding OpCo units. The filing shows these acquisitions as awards/grants (transaction code A) with derivative entries recorded at $0.00, indicating no cash was paid for the derivative securities. These issuances were made in connection with the issuer’s initial public offering and corporate reorganization.
Key Details
- Transaction date: 2026-05-15; Form 4 filed: 2026-05-19 (filed timely).
- Securities reported: 8,770,275 and 743,745 Class B shares and matching OpCo units; combined total = 9,514,020 interests.
- Prices: N/A for the direct acquisitions; derivative entries shown at $0.00 (no cash consideration).
- Shares owned after transaction: Not specified in the Form 4.
- Footnotes of note:
- Class B shares carry one vote each but have no economic rights; holders may redeem OpCo Units (and cancel a corresponding Class B share) for newly issued Class A shares on a one-for-one basis or for cash per the OpCo LLCA. OpCo Units do not expire. (F1, F2)
- 743,745 Class B shares and 743,745 OpCo Units are held by Cactus Energy, Inc.; Coats is president and sole director of Cactus and disclaims beneficial ownership beyond his pecuniary interest. (F3, F4)
Context
These entries represent awards issued in connection with an IPO/reorganization rather than an open-market purchase or sale. The $0.00 derivative entries typically reflect derivative or conversion rights tied to the issued units rather than a cash exercise. Awards and restructurings are common for insiders around IPOs and do not by themselves indicate a buy/sell signal in the public market.
Insider Transaction Report
- Award
Class B shares
[F1][F2]2026-05-15+8,770,275→ 8,770,275 total - Award
Class B shares
[F1][F2][F3]2026-05-15+743,745→ 743,745 total(indirect: See Footnote) - Award
EagleRock Land Operating, LLC units
[F1][F2]2026-05-15+8,770,275→ 8,770,275 total→ Class A shares (8,770,275 underlying) - Award
EagleRock Land Operating, LLC units
[F1][F2][F4]2026-05-15+743,745→ 743,745 total(indirect: See Footnote)→ Class A shares (743,745 underlying)
Footnotes (4)
- [F1]Each Class B share representing limited liability company interests (the "Class B shares") of EagleRock Land, LLC (the "Issuer") has no economic rights but entitles its holder to one vote on all matters to be voted on by the shareholders of the Issuer generally. At the request of a holder, each membership interest ("OpCo Unit") in EagleRock Land Operating, LLC ("OpCo") may be redeemed (along with the cancellation of a corresponding Class B share) for, subject to certain restrictions in the amended and restated company agreement of OpCo (the "OpCo LLCA"), newly issued Class A shares representing limited liability company interests of the Issuer on a one-for-one basis or for a cash payment to be determined pursuant to the OpCo LLCA for each OpCo Unit redeemed. The OpCo Units do not expire.
- [F2](continued from footnote 1) The Class B shares and OpCo Units issued to the Reporting Person were issued in connection with the Issuer's initial public offering and the corporate reorganization described in the Issuer's prospectus dated May 13, 2026.
- [F3]Includes 743,745 Class B shares which are held by Cactus Energy, Inc., of which the Reporting Person is the president and sole director. The Reporting Person disclaims beneficial ownership of Class B shares in excess of his pecuniary interest therein, if any.
- [F4]Includes 743,745 OpCo Units which are held by Cactus Energy, Inc., of which the Reporting Person is the president and sole director. The Reporting Person disclaims beneficial ownership of OpCo Units in excess of his pecuniary interest therein, if any.