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Keel Infrastructure Corp. (KEEL) officer reports RSU vesting

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Keel Infrastructure Corp. principal accounting officer Marc-Andre Ammann reported compensation-related equity activity on July 10, 2026. He acquired 28,480 shares of common stock through the exercise of restricted stock units, while 15,183 shares were withheld at $4.67 per share to satisfy tax obligations, leaving 13,297 common shares and 56,961 RSUs reported as directly held.

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Insider Ammann Marc-Andre
Role Principal Accounting Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 28,480 $0.00 --
Exercise Common Stock 28,480 $0.00 --
Tax Withholding Common Stock 15,183 $4.67 $71K
Holdings After Transaction: Restricted Stock Units — 56,961 shares (Direct); Common Stock — 28,480 shares (Direct)
Footnotes (1)
  1. Represents shares of common stock withheld by the issuer to satisfy tax withholding upon the vesting of restricted stock units ("RSUs"). The price was converted into its U.S. Dollar equivalent using an exchange rate on July 10, 2026 at CAD 1.00 = USD 0.7058. Each RSU represents a contingent right to receive one share of common stock or an equivalent value in cash at the issuer's election. Represents RSUs that vest in three equal installments beginning on July 10, 2026.
Shares acquired via RSU exercise 28,480 shares Common stock acquired through exercise/conversion on July 10, 2026
Shares withheld for taxes 15,183 shares Common stock withheld by issuer to satisfy tax withholding on RSU vesting
Tax withholding price $4.67 per share Value used for shares withheld to cover tax obligations
Common shares held after transactions 13,297 shares Directly held Keel Infrastructure common stock following withholding transaction
RSUs outstanding after transactions 56,961 RSUs Restricted stock units reported as directly held after July 10, 2026 activity
FX rate used CAD 1.00 = USD 0.7058 Exchange rate applied to convert price into U.S. dollars on July 10, 2026
restricted stock units ("RSUs") financial
"Represents shares of common stock withheld by the issuer to satisfy tax withholding upon the vesting of restricted stock units ("RSUs")."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
tax withholding financial
"Represents shares of common stock withheld by the issuer to satisfy tax withholding upon the vesting of restricted stock units."
Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.
derivative security financial
"Transaction code M is described as the exercise or conversion of derivative security."
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
contingent right financial
"Each RSU represents a contingent right to receive one share of common stock or an equivalent value in cash."
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FAQ

What insider equity transactions did KEEL officer Marc-Andre Ammann report?

Marc-Andre Ammann reported 28,480 Keel Infrastructure common shares acquired through the exercise of restricted stock units and a related tax withholding of 15,183 shares. These transactions reflect equity compensation vesting rather than open-market purchases or sales.

How many Keel Infrastructure (KEEL) shares were withheld for taxes?

The filing shows 15,183 Keel Infrastructure common shares were withheld. Footnotes state the issuer withheld these shares to satisfy tax withholding obligations arising from the vesting of restricted stock units, at a price of $4.67 per share.

What are Marc-Andre Ammann’s reported KEEL holdings after these transactions?

After the reported transactions, Ammann is shown holding 13,297 Keel Infrastructure common shares directly and 56,961 restricted stock units. The RSUs represent contingent rights to receive common stock or equivalent cash value at the company’s election.

Do Ammann’s KEEL share dispositions represent an open-market sale?

No, the disposition involves 15,183 shares withheld by Keel Infrastructure to cover tax liabilities tied to RSU vesting. The Form 4 uses code F and explains it as payment of tax by delivering securities, not a discretionary market sale.

How do the RSUs in Ammann’s KEEL Form 4 vest over time?

Footnotes state the reported RSUs vest in three equal installments beginning on July 10, 2026. Each restricted stock unit represents a contingent right to receive one share of common stock or an equivalent cash amount, at Keel Infrastructure’s election.
SEC Form 4
FORM 4UNITED 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*
Ammann Marc-Andre

(Last)(First)(Middle)
120 BROADWAY
SUITE 1075

(Street)
NEW YORK 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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Principal Accounting Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock07/10/2026M28,480A$028,480D
Common Stock07/10/2026F15,183(1)D$4.67(2)13,297D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(3)07/10/2026M28,480 (4) (4)Common Stock28,480$056,961D
Explanation of Responses:
1. Represents shares of common stock withheld by the issuer to satisfy tax withholding upon the vesting of restricted stock units ("RSUs").
2. The price was converted into its U.S. Dollar equivalent using an exchange rate on July 10, 2026 at CAD 1.00 = USD 0.7058.
3. Each RSU represents a contingent right to receive one share of common stock or an equivalent value in cash at the issuer's election.
4. Represents RSUs that vest in three equal installments beginning on July 10, 2026.
Remarks:
/s/ Rachel Silverstein, as attorney-in-fact07/14/2026
** 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 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)