Reed Stephanie L 4

What Happened
Stephanie L. Reed, a director of EagleRock Land, LLC (EROK), acquired 13,513 Class A shares on May 15, 2026. The reported purchase price was $18.50 per share, for a total transaction value of about $249,991. This was a purchase (a bullish signal in that it increases insider ownership rather than a sale).

Key Details

• Transaction date: 2026-05-15; Form 4 filed: 2026-05-19 (filed four days after the transaction; Form 4s are normally due within two business days).
• Transaction type/code: Purchase (P).
• Shares acquired: 13,513 at $18.50 per share; total ≈ $249,991.
• Shares owned after the transaction: Not specified in the Form 4 filing.
• Footnote: The shares reflect Class A interests purchased through the issuer’s directed share program in the company’s initial public offering (per footnote F1).

Context
This purchase was part of the IPO directed share program rather than a typical open‑market buy; such allocations are common for insiders and early investors at IPO time. The filing was submitted several days after the trade date, which appears later than the usual two‑business‑day Form 4 reporting window.