Angel Studios (ANGX) boosts 2026 CEO pay with $550K salary, new RSUs and PSUs

Rhea-AI Filing Summary

Angel Studios, Inc. reported that its Board approved 2026 compensation arrangements for certain executive officers under its 2025 Long-Term Incentive Plan. For Chief Executive Officer Neal Harmon, the Board set a 2026 base salary of $550,000 and granted 245,916 restricted stock units (RSUs) and 129,176 performance-based restricted stock units (PSUs).

The RSU grant vests one-third on December 10, 2026, with the remaining two-thirds vesting in eight equal quarterly installments from February 18, 2027 through November 18, 2028, subject to the 2025 plan and award agreements. The PSUs vest only if minimum average share-price milestones are met during the ten-year period after grant and the executive remains employed on the first day of the quarter after the milestone is reached. Each RSU and PSU corresponds to one share of Class A common stock.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

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Date of Report (Date of earliest event reported): December 12, 2025

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Angel Studios, Inc.

(Exact Name of Registrant as Specified in Its Charter)

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Delaware		001-41150		86-3483780
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

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295 W Center St.
Provo, UT 84601

(Address of principal executive offices)

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(760) 933-8437

(Registrant’s telephone number, including area code)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class	Trading symbol(s)	Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per share	ANGX	The New York Stock Exchange

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

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Emerging growth company ☒

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 5.02  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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On December 12, 2025, the Board of Directors of Angel Studios, Inc. (the “Company”) approved certain 2026 compensation arrangements for certain of the Company’s executive officers under the Company’s 2025 Long-Term Incentive Plan, including base salary adjustments and grants of restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”). The base salaries are effective as of January 1, 2026.

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The compensation actions approved for the Company’s named executive officers are summarized below:

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Executive Officer	2026 Base Salary	RSUs Granted	PSUs Granted
Neal Harmon, Chief Executive Officer	$550,000	245,916	129,176
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Each RSU award vests one-third on December 10, 2026, and the remaining two-thirds vesting in eight (8) equal quarterly installments on the following dates: February 18, 2027, May 18, 2027, August 18, 2027, November 18, 2027, February 18, 2028, May 18, 2028, August 18, 2028, and November 18, 2028, and subject to the provisions of the 2025 LTIP and the Restricted Stock Grant Award Agreements governing such grants.

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Vesting of the PSUs is subject to minimum average share prices being achieved during the ten-year period following the date of grant and the participant remaining employed on the first day of the calendar quarter following the quarter in which such minimum average share price is achieved.  Specifically, 10% of the PSUs shall become vested on the first day of the calendar quarter following a quarter in which the price of a share achieved specified stock-price performance milestones, as set forth in the applicable award agreement.

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Each RSU or PSU represents the right to receive one share of the Company’s Class A common stock. All awards were granted under, and are subject to, the terms of the Company’s 2025 Long-Term Incentive Plan and the applicable award agreements.

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SIGNATURE

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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​	ANGEL STUDIOS, INC.
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Date: December 12, 2025	By:	/s/ Scott Klossner
​	​	Scott Klossner
​	​	Chief Financial Officer

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FAQ

What executive compensation changes did Angel Studios (ANGX) approve for 2026?

Angel Studios approved 2026 compensation arrangements for certain executive officers under its 2025 Long-Term Incentive Plan, including base salary adjustments and grants of RSUs and PSUs. The filing details these changes for Chief Executive Officer Neal Harmon.

What is CEO Neal Harmon’s 2026 base salary at Angel Studios (ANGX)?

For 2026, Chief Executive Officer Neal Harmon will receive a base salary of $550,000, effective as of January 1, 2026, as part of the compensation actions approved by the Board.

How many RSUs and PSUs were granted to Angel Studios CEO Neal Harmon?

Neal Harmon was granted 245,916 restricted stock units (RSUs) and 129,176 performance-based restricted stock units (PSUs). Each unit represents the right to receive one share of Angel Studios’ Class A common stock, subject to vesting conditions.

What is the vesting schedule for the RSUs granted by Angel Studios (ANGX)?

The RSU award vests one-third on December 10, 2026. The remaining two-thirds vest in eight equal quarterly installments on these dates: February 18, 2027; May 18, 2027; August 18, 2027; November 18, 2027; February 18, 2028; May 18, 2028; August 18, 2028; and November 18, 2028, subject to the 2025 LTIP and award agreements.

How do Angel Studios’ performance-based RSUs (PSUs) vest for executives?

The PSUs vest based on stock-price performance milestones over a ten-year period after the grant date. 10% of the PSUs become vested on the first day of the calendar quarter following a quarter in which the share price achieves specified minimum average share-price milestones, provided the participant remains employed on that vesting date.

Under which plan were the new Angel Studios (ANGX) equity awards granted?

All RSU and PSU awards were granted under Angel Studios’ 2025 Long-Term Incentive Plan and are subject to the terms of that plan and the applicable award agreements, which govern conditions such as vesting and continued employment.