Chang Andrew 4

What Happened
Andrew Chang, a director of Keel Infrastructure Corp. (KEEL), received a grant of 101,010 restricted stock units (RSUs) on April 2, 2026. The grant is reported as a derivative acquisition (transaction code A) at $0.00 per unit (total reported acquisition value $0). These RSUs represent a contingent right to common shares or cash at the issuer’s election and do not represent immediate cash outlay or sale.

Key Details

• Transaction date: 2026-04-02; Form 4 filed: 2026-04-06 (filing appears to be within the standard 2-business-day window).
• Award: 101,010 RSUs reported as acquired at $0.00 each (total $0 reported).
• Vesting: RSUs vest on April 2, 2027 (one-year cliff).
• Footnotes: F1 — each RSU converts to one common share or equivalent cash at the issuer’s election; F2 — vest date noted above.
• Shares owned after transaction: not specified in the summary information provided.

Context
RSU grants are compensation, not open-market purchases or sales; they do not necessarily signal immediate insider buying or selling. The economic value to the insider will depend on Keel Infrastructure’s share price at vesting (or whether the company elects cash settlement). This filing documents a routine director equity award rather than a market transaction.