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Director Philip Fanny details Keel Infrastructure (KEEL) share and stock option holdings

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(Neutral)
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(Neutral)
Form Type
3

Rhea-AI Filing Summary

Keel Infrastructure Corp. director Philip Fanny filed an initial ownership report showing direct holdings in both common shares and stock options. He holds 180,685 common shares, plus options over 150,000 common shares at an exercise price of $2.20 expiring on August 23, 2029 and options over 60,000 common shares at $1.87 expiring on December 18, 2029. The filing also notes that the 150,000 options are fully vested and the 60,000 options vest in four installments through June 18, 2026.

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Insider Philip Fanny
Role Director
Type Security Shares Price Value
holding Stock Options (Right to Buy) -- -- --
holding Stock Options (Right to Buy) -- -- --
holding Common Shares -- -- --
Holdings After Transaction: Stock Options (Right to Buy) — 150,000 shares (Direct); Common Shares — 180,685 shares (Direct)
Footnotes (1)
  1. On August 23, 2024, the reporting person was granted 150,000 stock options which have fully vested. The price was converted into its U.S. Dollar equivalent using the Bank of Canada daily exchange rate on March 30, 2026 (at CAD 1.00 = USD 0.718). On December 18, 2024, the reporting person was granted 60,000 stock options which vest in equal installments on December 18, 2024, June 18, 2025, December 18, 2025, and June 18, 2026.
Common shares held 180,685 shares Total common shares directly owned following reported entries
Option grant 1 size 150,000 shares Underlying common shares for options granted August 23, 2024
Option grant 1 exercise price $2.20 per share Exercise price for 150,000 stock options expiring August 23, 2029
Option grant 2 size 60,000 shares Underlying common shares for options granted December 18, 2024
Option grant 2 exercise price $1.87 per share Exercise price for 60,000 stock options expiring December 18, 2029
CAD/USD exchange rate CAD 1.00 = USD 0.718 Bank of Canada daily rate used March 30, 2026 for price conversion
Stock Options (Right to Buy) financial
"security_title: Stock Options (Right to Buy)"
Common Shares financial
"underlying_security_title: Common Shares"
Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.
exercise price financial
"The price was converted into its U.S. Dollar equivalent"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
Bank of Canada daily exchange rate financial
"using the Bank of Canada daily exchange rate on March 30, 2026"
vest financial
"which vest in equal installments on December 18, 2024, June 18, 2025,"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
Understanding Insider Trading Forms →
SEC Form 3
FORM 3UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0104
Estimated average burden
hours per response:0.5
1. Name and Address of Reporting Person*
Philip Fanny
(Last)(First)(Middle)
120 BROADWAY
SUITE 1075
(Street)
NEW YORK NEW YORK 10004
(City)(State)(Zip)
UNITED STATES
(Country)		2. Date of Event Requiring Statement (Month/Day/Year)
04/01/2026		3. Issuer Name and Ticker or Trading Symbol
Keel Infrastructure Corp. [ KEEL ]
3a. Foreign Trading Symbol
5. If Amendment, Date of Original Filed (Month/Day/Year)
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares180,685D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year)3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options (Right to Buy) (1)08/23/2029Common Shares150,000$2.2(2)D
Stock Options (Right to Buy) (3)12/18/2029Common Shares60,000$1.87(2)D
Explanation of Responses:
1. On August 23, 2024, the reporting person was granted 150,000 stock options which have fully vested.
2. The price was converted into its U.S. Dollar equivalent using the Bank of Canada daily exchange rate on March 30, 2026 (at CAD 1.00 = USD 0.718).
3. On December 18, 2024, the reporting person was granted 60,000 stock options which vest in equal installments on December 18, 2024, June 18, 2025, December 18, 2025, and June 18, 2026.
Remarks:
Exhibit List - Exhibit 24.1 Power of Attorney
/s/ Rachel Silverstein, as attorney-in-fact04/01/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What does Philip Fanny’s Form 3 filing for Keel Infrastructure Corp. (KEEL) show?

The Form 3 shows Philip Fanny’s initial beneficial ownership in Keel Infrastructure Corp., including 180,685 common shares and two stock option grants over 210,000 common shares with specified exercise prices and future expiration dates, all held directly as a director.

How many Keel Infrastructure Corp. (KEEL) common shares does Philip Fanny directly own?

Philip Fanny directly owns 180,685 common shares of Keel Infrastructure Corp. This position is reported as his total common share holdings following the reported entries, giving investors a clear baseline of his direct equity exposure separate from his stock option awards.

What stock options over Keel Infrastructure Corp. (KEEL) shares does Philip Fanny hold?

Philip Fanny holds options over 150,000 common shares with a $2.20 exercise price expiring August 23, 2029, and options over 60,000 common shares with a $1.87 exercise price expiring December 18, 2029, all reported as directly owned derivative positions.

How are Philip Fanny’s 150,000 Keel Infrastructure (KEEL) stock options structured?

The 150,000 stock options were granted on August 23, 2024 and are fully vested. They carry a $2.20 exercise price and expire on August 23, 2029, providing the right to acquire an equal number of Keel Infrastructure common shares during that term.

What is the vesting schedule for Philip Fanny’s 60,000 Keel Infrastructure (KEEL) stock options?

The 60,000 stock options granted December 18, 2024 vest in four equal installments. Vesting dates are December 18, 2024, June 18, 2025, December 18, 2025, and June 18, 2026, aligning option availability with this stepwise schedule before their December 18, 2029 expiration.

How was the exercise price of Philip Fanny’s Keel Infrastructure (KEEL) options converted to U.S. dollars?

The filing states that the option price was converted to its U.S. dollar equivalent using the Bank of Canada daily exchange rate on March 30, 2026, specifically CAD 1.00 equal to USD 0.718, to present the exercise prices in U.S. currency terms.