Gagnon Benjamin 4

What Happened

• Benjamin Gagnon, CEO of Keel Infrastructure Corp. (KEEL), executed a conversion/exercise of a derivative (reported with transaction code M) that resulted in 215,579 shares being acquired and an offsetting 215,579-share disposition on 2026-07-10. Both entries report a price of $0.00 and total value $0. This reflects conversion/settlement of RSUs rather than an open-market cash purchase or sale.

Key Details

• Transaction date: 2026-07-10
• Filing date: 2026-07-14 (filed within the normal Form 4 timing window)
• Shares acquired: 215,579 at $0.00 (total $0)
• Shares disposed: 215,579 at $0.00 (total $0)
• Shares owned after the transaction: Not disclosed in the provided data
• Transaction code: M (exercise or conversion of a derivative)
• Footnotes: F1 — each RSU represents a contingent right to one share or cash at the issuer’s election; F2 — these RSUs vest yearly in three equal installments beginning July 10, 2026
• No explicit 10b5-1 plan, tax-withholding, or late-filing note was provided

Context

• This filing documents conversion/settlement of restricted stock units (RSUs). RSUs are often settled into shares (or cash) when they vest; F2 indicates these RSUs begin vesting on 7/10/2026 in three annual installments. Because the entries show $0.00 and matched acquisition/disposition amounts, this is likely an administrative conversion/settlement rather than a market buy or sale and does not itself signal a purchase-based bullish vote.