ANGX director reports Class A & B shares, options at $6.13/$2.24

Rhea-AI Filing Summary

Angel Studios, Inc. (ANGX) reported an initial statement of beneficial ownership by a director. The director directly owns 50,353 shares of Class A Common Stock and 28,534 shares of Class B Common Stock. Derivative holdings include stock options exercisable for 155,960 and 41,760 shares of Class B at an exercise price of $6.13 per share, both expiring on 02/03/2035, and options for 46,244 shares at $2.24 per share expiring on 12/02/2032. The 41,760 options vest in substantially equal quarterly increments over one year beginning January 1, 2025. The event date is 10/23/2025.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Liljenquist Katie

(Last) (First) (Middle)

295 W. CENTER ST.

(Street)

PROVO UT 84601

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/23/2025

3. Issuer Name and Ticker or Trading Symbol
Angel Studios, Inc. [ ANGX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock, par value $0.0001 per share	50,353	D
Class B Common Stock, par value $0.0001 per share	28,534	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	(1)	02/03/2035	Class B Common Stock	155,960	$6.13	D
Stock Option (right to buy)	(2)	02/03/2035	Class B Common Stock	41,760	$6.13	D
Stock Option (right to buy)	(3)	12/02/2032	Class B Common Stock	46,244	$2.24	D

Explanation of Responses:

1. Represents fully-vested stock options granted to the reporting person under the Issuer's 2023 Stock Incentive Plan, exercisable for 155,960 shares of the Issuer's Class B Common Stock.

2. Represents stock options granted to the reporting person under the Issuer's 2023 Stock Incentive Plan, exercisable for 41,760 shares of the Issuer's Class B Common Stock. These stock options will vest in substantially equal quarterly increments, over a one-year period beginning January 1, 2025.

3. Represents fully-vested stock options granted to the reporting person under the Issuer's 2014 Stock Incentive Plan, exercisable for 46,244 shares of the Issuer's Class B Common Stock.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Patrick J. Reilly, Attorney-in-Fact	10/28/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Angel Studios (ANGX) report on Form 3?

A director’s initial beneficial ownership, including 50,353 Class A shares, 28,534 Class B shares, and several stock option grants.

How many ANGX common shares does the director own directly?

The director directly owns 50,353 shares of Class A and 28,534 shares of Class B Common Stock.

What stock options were disclosed for ANGX?

Options for 155,960 Class B shares at $6.13 expiring 02/03/2035, 41,760 at $6.13 expiring 02/03/2035, and 46,244 at $2.24 expiring 12/02/2032.

When do the 41,760 ANGX options vest?

They vest in substantially equal quarterly increments over one year beginning January 1, 2025.

What is the reporting person’s relationship to ANGX?

The reporting person is a Director of Angel Studios, Inc.

What is the Form 3 event date for this ANGX filing?

The event date is 10/23/2025.

Under which plans were the ANGX options granted?

Grants were made under the 2023 Stock Incentive Plan and the 2014 Stock Incentive Plan.