When EROC insiders can sell
ERock, Inc. · IPO prospectus filed 2026-06-10 · Single cliff · 180-day lock-up
That is the calendar date the clause computes to, counted from the prospectus date. It is the only date computable without knowing a future earnings date, which is why everything that could pull it earlier is printed below it on this page rather than folded into it.
The lock-up clause, in the issuer's words
Every other free lock-up calendar tells you 180 days and moves on. This is the actual sentence the date above was computed from, so that if the words do not support the number, the number is wrong and the filing is one click away.
…our Class A and Class B common stock will enter into lock-up agreements pursuant to which we and they will be subject to certain restrictions with respect to the sale or other disposition of our Class A common stock or securities convertible into or exercisable or exchangeable for Class A common stock for a period of 180 days following the date of this prospectus. Please see "Underwriting" for more information on these agreements. If the restrictions under the lock-up agreements are waived, then the shares of Class A common stock, subject to compliance with the Securities Act or exceptions therefrom, will be available for sale into the public markets, which could cause the market price of our Class A common stock to decline and impair our ability to raise capital. We may issue preferred stock whose terms could materially and adversely affect the voting power or value of our common stock.
Where the share count comes from
The prospectus never prints the number of shares coming free, and nothing in it lets the figure be derived. That is why this deal carries no flow math.
| Shares outstanding after the offering | 19,746,000 |
| Shares sold in the offering | 27,906,977 |
| Underwriters' over-allotment option | 4,186,046 |
Exceptions written into the lock-up (4)
Each of these is a route by which EROC shares can move before 2026-12-07. The 10b5-1 carve-out is the one worth reading twice: it lets insiders put a selling plan in place during the lock-up, so the first sales can be automatic and immediate rather than discretionary and later.
- 10b5-1 plan
- bona fide gift or charitable transfer
- estate planning or family transfer
- directed share program participants
…utstanding immediately following 199 Table of Contents the completion of this offering (F) facilitating the establishment of a trading plan on behalf of a shareholder, officer or director of the Company pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of common stock, provided that (i) such plan does not provide for the transfer of common stock during the Restricted Period and (ii) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by the Company regarding the establishment of such plan, such announcement or filing shall include a statement to the…
…ing a reduction in beneficial ownership of Lock-Up Securities during the Restricted Period, such filing or disclosure must clearly indicate the circumstances of such transfer; b) transfers of Lock-Up Securities (i) as a bona fide gift or to a charitable organization or educational institution or (ii) for bona fide estate planning purposes in each case, in a transfer not involving a disposition for value; c) transfers or dispositions of Lock-Up Securities to any member of the immediate family or any trust for the direct or indirect benefit of the holder or if the holder is a trust, to a trustor, trustee or any beneficiary (including…
ELATED PERSON TRANSACTIONS The following is a description of certain relationships and transactions that exist or have existed or that we have entered into with our directors, executive officers and their affiliates and immediate family members. The following are summaries of certain provisions of our related party agreements, which are qualified in their entirety by reference to all of the provisions of such agreements. Because these descriptions are only summaries of the applicable agreements, they do not necessarily contain all of the information that you may find useful. We therefore encourage you to review the agreements in their entirety.
Directed share program At our request, the underwriters have reserved 5% of the shares of our Class A common stock to be issued by ERock and offered by this prospectus for sale, at the initial public offering price, to directors, officers, employees, and other designated individuals. If purchased by persons who have entered into lock-up agreements with the underwriters, these shares will be subject to a 180-day lock-up restriction.
What we could not establish
EROC is read but not publishable: the prospectus does not state how many shares come free. So there is no absorb-day figure on this page and no call, and there will not be one until the number exists in a filing.
The common case is a prospectus that says "substantially all" of the locked shares become eligible for sale without ever printing a count. The clause above is quoted in full so you can see that for yourself. An estimate presented with a filing link beside it would read as a filing figure, and that is worse than an admission — it is the one failure mode a reader cannot detect.
How this reading of EROC could be wrong
The volume is a vendor's, not ours. EROC is not in our own price table, so average daily volume comes from yahoo-finance2 daily bars (symbol not in our price table). Vendor bars for recently listed symbols are the ones most likely to be wrong.
Only 20 sessions of volume history. This is a recent IPO, and early volume is dominated by the offering itself. An average over 20 sessions of a stock that has barely traded is the weakest input on the page, and absorb days inherits every bit of that weakness.
The parser can misread a filing. That is why every number here is printed next to the words it came from. Earlier versions of this parser read the underwriters' 30-day over-allotment window as a 30-day lock-up on five deals, and double-counted one issuer's share total because the offering summary appears on both the cover and in the summary section.
Also unlocking in 2026-12 (13)
Lock-ups cluster, because IPOs cluster: these priced in the same window as EROC and come free in the same month. Several heavy releases landing together is a different situation from one.
| Deal | Expiry | Shares free | Absorb days |
|---|---|---|---|
| LFTO Liftoff Mobile, Inc. | 2026-12-01 | 5.0M | 7.4 sessions |
| INIO INNIO N.V. | 2026-12-01 | — | — |
| SSMR Sunshine Silver Mining & Refining Co | 2026-12-02 | — | — |
| QNT Quantinuum Inc. | 2026-12-02 | 233.0M | 95.0 sessions |
| PBLS Parabilis Medicines, Inc. | 2026-12-08 | — | — |
| LIME Neutron Holdings, Inc. | 2026-12-09 | — | — |
| SPCX SPACE EXPLORATION TECHNOLOGIES CORP | 2026-12-09 | 11.96B | 109 sessions |
| KARD Kardigan, Inc. | 2026-12-15 | 64.3M | 124 sessions |
| FCBM First Carolina Financial Services, Inc. | 2026-12-15 | 20.4M | 121 sessions |
| DPC DPC Holdings Ltd | 2026-12-23 | — | — |
| SIND Sinda Ltd. | 2026-12-26 | — | — |
| BSP Bending Spoons S.p.A. | 2026-12-28 | — | — |
| ITG ITG, Inc./DE/ | 2026-12-29 | 101.7M | 129 sessions |
Learn to read these clauses yourself
The flow arithmetic on this page — shares unlocking divided by average daily volume, and why the clause has to be read rather than assumed — taught step by step, free.
Radar built 2026-11-07 from EDGAR full-text search over 424B4 filings · all 80 parsed lock-ups and the scoreboard · EROC's prospectus on EDGAR · what funds carried these companies at before listing