Philip Fanny 4

What Happened

• Philip Fanny, a director of Keel Infrastructure Corp. (KEEL), received an award of 101,010 restricted stock units (RSUs) on April 2, 2026. The filing shows the acquisition as a derivative award (code A) with a reported price/consideration of $0.
• Each RSU represents a contingent right to one common share (or cash equivalent at the issuer’s election). The RSUs will vest on the first anniversary of the grant, April 2, 2027.

Key Details

• Transaction date: April 2, 2026; Filing date (Form 4): April 6, 2026. No late filing is indicated in the report.
• Transaction type/code: Grant/award of derivative securities (A).
• Amount: 101,010 RSUs; Reported price/consideration: $0; Reported total value: $0.
• Vesting: RSUs vest on April 2, 2027 (one-year cliff per footnote).
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes: F1—Each RSU = contingent right to one common share or cash at issuer’s election. F2—Vesting on April 2, 2027.

Context

• RSU grants are compensation awards, not open-market purchases or sales. They do not represent immediately tradable shares until vested and, depending on company practice, may convert to shares or cash at vesting.
• Because this is a grant, it’s primarily a disclosure of compensation rather than a direct signal of insider buying or selling. Future value depends on Keel’s share price and whether the company elects to settle in shares or cash.