Director Andrew Chang receives 101,010 RSU grant at Keel Infrastructure (KEEL)

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Chang Andrew reported acquisition or exercise transactions in this Form 4 filing.

Keel Infrastructure Corp. director Andrew Chang reported an award of 101,010 restricted stock units (RSUs) on April 2, 2026. Each RSU represents a contingent right to receive one common share or an equivalent cash amount at the company’s election. The RSUs are scheduled to vest on April 2, 2027, and Andrew Chang’s total reported holdings after this grant are 101,010 RSUs.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Chang Andrew

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	101,010	$0.00	--

Holdings After Transaction: Restricted Stock Units — 101,010 shares (Direct)

Footnotes (1)

Each restricted stock unit ("RSU") represents a contingent right to receive one common share or an equivalent value in cash at the issuer's election The RSUs will vest on the first year anniversary of the grant, on April 2, 2027.

Key Figures

RSUs granted: 101,010 units RSU price per unit: $0.0000 Holdings after grant: 101,010 RSUs +2 more

5 metrics

RSUs granted 101,010 units Restricted stock units awarded on April 2, 2026

RSU price per unit $0.0000 Grant/award acquisition price

Holdings after grant 101,010 RSUs Total reported RSU position following transaction

RSU vesting date April 2, 2027 First anniversary of the grant date

Underlying security Common Stock Each RSU tied to one common share or cash equivalent

Key Terms

Restricted Stock Units, RSU, contingent right, vest

4 terms

Restricted Stock Units financial

"security_title: "Restricted Stock Units" granted to Andrew Chang"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

RSU financial

"Each restricted stock unit ("RSU") represents a contingent right"

Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.

contingent right financial

"represents a contingent right to receive one common share or cash"

vest financial

"The RSUs will vest on the first year anniversary of the grant"

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.

Form 4 Insider Transactions: What Each Field Means →

04/06/2026 - 04:48 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Chang Andrew

(Last)

(First)

(Middle)

120 BROADWAY

SUITE 1075

(Street)

NEW YORK

10004

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Keel Infrastructure Corp. [ KEEL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	04/02/2026		A		101,010		⁽²⁾	⁽²⁾	Common Stock	101,010	$0	101,010	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one common share or an equivalent value in cash at the issuer's election

2. The RSUs will vest on the first year anniversary of the grant, on April 2, 2027.

	/s/ Rachel Silverstein, as attorney-in-fact	04/06/2026
	** Signature of Reporting Person	Date
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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Keel Infrastructure (KEEL) director Andrew Chang report?

Andrew Chang reported receiving a grant of 101,010 restricted stock units from Keel Infrastructure. These RSUs were awarded at no stated purchase price and, once vested, can settle in one common share or cash per unit, at the issuer’s election.

How many restricted stock units did Andrew Chang receive from Keel Infrastructure?

Andrew Chang received 101,010 restricted stock units from Keel Infrastructure. After this grant, his reported holdings total 101,010 RSUs, reflecting that this appears to be a new award rather than an incremental addition to an existing RSU balance in this filing.

When do Andrew Chang’s Keel Infrastructure RSUs vest?

The restricted stock units granted to Andrew Chang vest on April 2, 2027, one year after the April 2, 2026 grant date. Vesting means he becomes entitled to receive common shares or cash value for the RSUs, subject to the company’s election and applicable conditions.

What does each Keel Infrastructure RSU granted to Andrew Chang represent?

Each restricted stock unit represents a contingent right to receive one Keel Infrastructure common share or an equivalent cash amount. Delivery of stock or cash occurs at the issuer’s election once the RSUs vest, giving the company flexibility in how it settles the award.

Is Andrew Chang’s Keel Infrastructure RSU award a market purchase or compensation grant?

The RSU award is a compensation grant, not a market purchase. It is coded as a grant or award acquisition, carries a transaction price of $0.0000 per unit, and reflects equity-based compensation rather than an open-market buy or sell of existing shares.