The club appealed six-match bans handed out to first team players Nathan Patterson Bongani Zungu and Calvin Bassey, as well as loaned-out duo Brian Kinnear and Dapo Mebude.
That allowed a first-team stay of execution for the players, particularly Patterson who played two Scottish Cup ties as well as featuring against Hibs and St Johnstone in the SPFL Premiership.
However the decision to implement the original four-match bans with two further games suspended was met with anger from the club as well as frustration and disappointment from the manager.
Gerrard said: “We found the outcome out yesterday morning and obviously not too happy about it. I said I was frustarted and disappointed that all of the players are going to receive a ban – it’s not just about Nathan. They’re all as important as eachother.
“For me, I’m frustrated and disappointed they’re not available in the next four games, but it is what it is.
“We put a statement out which I back very much in terms of the club and we move forward.”
Patterson and Bassey both played off the bench in Wednesday night's dress rehearsal ahead of Sunday’s Scottish Cup quarter final against St Johnstone.
Both played off the bench in the 1-1 draw at McDiarmid Park.
Kinnear is currently on loan at Annan Athletic and Mebude at Queen of the South. South African midfielder Zungu is on loan at Rangers from SC Amiens.