Keel Infrastructure Corp. 8-K

What Happened
Keel Infrastructure Corp. announced on July 6, 2026 (8-K filed) that it appointed Ganesh Aiyer as President, effective July 6, 2026. Mr. Aiyer, age 55, will report to the Company’s CEO and joins from Digital Realty Trust, where he served as Chief Business Officer since 2019. The employment agreement is with Backbone Hosting Solutions (USA) Inc., a Keel subsidiary, dated July 5, 2026, and Keel has guaranteed the subsidiary’s obligations.

The agreement is at-will and includes an annual base salary, short- and long-term incentive participation, a one-time equity grant (stock options and restricted stock units), standard benefits (health, 401(k), PTO), and severance protections if terminated without Cause or for Good Reason, including enhanced treatment on a change of control.

Key Details

• Base salary: USD $500,000 per year, paid bi-weekly; employment effective July 6, 2026.
• Bonus target: Short-term incentive target = 100% of base salary; measured 75% corporate KPIs / 25% individual KPIs.
• One-time equity: 100,000 stock options (fully vest Jan 2027) and RSUs valued at $1,500,000 vesting 50% Jan 2027, 25% Jul 2027, 25% Jan 2028 (subject to Board approval).
• Severance: If terminated without Cause or for Good Reason after 6 months — 12 months base pay plus 2 months per year of service (capped at 18 months); Qualified Change of Control termination = 24 months base pay. Health continuation and unpaid/prorated bonus provisions also apply.

Why It Matters
This is a material executive appointment: Keel hired an experienced data-center industry executive from Digital Realty to lead commercial and business operations as President. For investors, the hire signals a focus on scaling commercial strategy and may affect future revenue generation and margin initiatives; the package also includes significant near-term equity vesting and meaningful severance protections that could impact compensation expense. The company filed a press release on July 6, 2026, announcing the appointment.