The act of sitting around (normally at work) wasting time and not doing the duties you have been assigned. also could be used as a to Sherk = to do nothing when you should be working.
Hey, you been busy today?
Dude, i was sherking big time!
(v) When in DEEP REM sleep yet carrying out inappropriate dreamlike actions of masturbation, also known as SLERKING or "Sleeping and Jerking OFF at the same time" = Slerking.