---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-25-002821"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2025-04-25T23:59:59+00:00"
generated_at: "2026-05-23T05:40:01.036400+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Koil Energy names Mads Andersen to board, Kurt Keller as CFO

## Summary
- Mads Andersen, CEO of Norway-based Aibel ASA (5,000 employees, $1.5B revenue), joins board as independent director; receives $20K cash, $30K RSU, 50,000 options.
- Kurt Keller appointed CFO effective April 22; base salary $250K, eligible for annual bonus based on board-set objectives; granted 80,000 restricted shares and 160,000 options (3-year vest).
- Keller's employment agreement includes severance of 6 months salary + pro-rata bonus, change-of-control acceleration, and gross-up for excise taxes.
- Keller has 20+ years scaling businesses from $20M to $100M; prior CFO roles at PurgeRite, SunGrid, Mantis Innovation, Navasota Energy; holds CFA and CMA.

## SEC filing metadata
- accession: 0001683168-25-002821
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2025-04-25T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1110607/000168316825002821/0001683168-25-002821-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316825002821/koil_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-002821
- JSON: https://secwatch.observer/filing/0001683168-25-002821.json
- Plain text: https://secwatch.observer/filing/0001683168-25-002821.txt

## Key facts
- Executive change
  Mads Andersen was appointed as Director at Koil Energy Solutions, Inc..
  - Action: appointed
  - Role: Director
  source text: Effective as of April 21, 2025, Mads Andersen, age 59, was appointed to the Board of Directors of Koil Energy Solutions, Inc. (the “Company”) as an independent, non-executive director.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316825002821/0001683168-25-002821-index.htm
- Executive change
  Kurt Keller was appointed as Chief Financial Officer at Koil Energy Solutions, Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: On April 21, 2025, the Company announced the appointment of Kurt Keller as the chief financial officer (CFO) of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316825002821/0001683168-25-002821-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.