Keel CEO updates terms on 500,000 stock options

Keel Infrastructure Corp. director and Chief Executive Officer Benjamin Gagnon reported administrative updates to an existing stock option grant.

Rhea-AI Filing Summary

Keel Infrastructure Corp. director and Chief Executive Officer Benjamin Gagnon reported administrative updates to an existing stock option grant. The filing shows transactions for 500,000 stock options with an exercise price of $3.53 per share, but a footnote states that no new options have been awarded and that the activity reflects an extension of the expiration date under the company’s Long Term Incentive Plan. The options are fully vested, currently exercisable, and the price was converted to U.S. dollars using a Bank of Canada rate of CAD 1.00 = USD 0.704.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Gagnon Benjamin

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Disposition	Stock Options (Right to Buy)	500,000	$0.00	$0.00
Grant/Award	Stock Options (Right to Buy)	500,000	$0.00	$0.00

Holdings After Transaction: Stock Options (Right to Buy) — 500,000 contracts (Direct)

Footnotes (3)

1. F1. No new stock options have been awarded. The transactions reported herein reflect the extension of the expiration date of previously granted options in accordance with Issuer's Long Term Incentive Plan.
2. F2. The price was converted into its U.S. Dollar equivalent using the Bank of Canada daily exchange rate on June 29, 2026 (at CAD 1.00 = USD 0.704).
3. F3. The stock option is fully vested and currently exercisable.

Key Figures

Stock options affected: 500,000 options Exercise price: $3.53 per share CAD to USD rate: CAD 1.00 = USD 0.704 +1 more

4 metrics

Stock options affected 500,000 options Existing grant covered in Form 4

Exercise price $3.53 per share Converted to USD using Bank of Canada rate

CAD to USD rate CAD 1.00 = USD 0.704 Bank of Canada daily exchange rate on June 29, 2026

Option expiration date June 29, 2031 Extended expiration for previously granted options

Key Terms

Stock Options (Right to Buy), Long Term Incentive Plan, expiration date, Bank of Canada daily exchange rate

4 terms

Stock Options (Right to Buy) financial

"security_title: Stock Options (Right to Buy)"

Long Term Incentive Plan financial

"extension of the expiration date of previously granted options in accordance with Issuer's Long Term Incentive Plan"

A long term incentive plan is a company program that awards executives and key employees bonuses—often in stock, options, or cash—only if the business meets multi-year performance goals. It links management pay to company results—like tying a coach’s bonus to a team’s multi-season record—so investors monitor it for how leaders are motivated, potential share dilution, and signals about the company’s long-term priorities.

expiration date financial

"reflect the extension of the expiration date of previously granted options"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

Bank of Canada daily exchange rate financial

"converted into its U.S. Dollar equivalent using the Bank of Canada daily exchange rate"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did KEEL CEO Benjamin Gagnon report in this Form 4?

Benjamin Gagnon reported administrative changes to a stock option grant covering 500,000 options. A footnote explains no new options were awarded; the transactions reflect extending the expiration date under Keel Infrastructure’s Long Term Incentive Plan.

How many Keel Infrastructure (KEEL) options are covered in this Form 4?

The Form 4 covers stock options on 500,000 underlying common shares. These options are fully vested and currently exercisable, and the reported transactions relate to extending their expiration date rather than issuing an additional award.

Were new Keel Infrastructure (KEEL) stock options granted to the CEO?

No new stock options were granted to the CEO. A footnote explicitly states that the transactions reflect extending the expiration date of previously granted options, consistent with Keel Infrastructure’s Long Term Incentive Plan provisions.

What is the exercise price of the KEEL stock options in this filing?

The exercise price of the stock options is $3.53 per share. A footnote notes this figure was converted to U.S. dollars using the Bank of Canada daily exchange rate of CAD 1.00 = USD 0.704 as of June 29, 2026.

What is the expiration date of the KEEL options mentioned in the Form 4?

The stock options now carry an expiration date of June 29, 2031. According to the filing, the reported transactions correspond to extending this expiration date for previously granted, fully vested, and currently exercisable options.

Are the KEEL options held by the CEO currently exercisable?

Yes, the options are fully vested and currently exercisable. A footnote clearly states the stock option is fully vested and can be exercised, with the transactions focused on updating the expiration date under the incentive plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/30/2026 - 09:07 PM Learn about SEC filing dates

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^*

Gagnon Benjamin

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/27/2026

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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (Right to Buy)(1)	$3.53(2)	06/27/2026		D			500,000	(3)	06/29/2026	Common Shares	500,000	(1)	0	D
Stock Options (Right to Buy)(1)	$3.53(2)	06/27/2026		A		500,000		(3)	06/29/2031	Common Shares	500,000	(1)	500,000	D

Explanation of Responses:

1. No new stock options have been awarded. The transactions reported herein reflect the extension of the expiration date of previously granted options in accordance with Issuer's Long Term Incentive Plan.

2. The price was converted into its U.S. Dollar equivalent using the Bank of Canada daily exchange rate on June 29, 2026 (at CAD 1.00 = USD 0.704).

3. The stock option is fully vested and currently exercisable.

	/s/ Robert Lovett, Attorney-in-fact	06/30/2026
	** 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)