Angel Studios (ANGX) Form 3: Seth Taylor Reports 4,761 Shares and Long‑Term Awards
Form 3 filing for Angel Studios, Inc. (ANGX) reports initial beneficial ownership by Seth Taylor, Chief Experience Officer.
Sentiment and the balance of points
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Rhea-AI Filing Summary
Form 3 filing for Angel Studios, Inc. (ANGX) reports initial beneficial ownership by Seth Taylor, Chief Experience Officer. He directly owns 4,494 shares of Class A common stock and 267 shares of Class B common stock. The filing lists multiple stock options and performance stock units that convert into Class B or Class A shares, with exercise prices ranging from $1.62 to $7.29 and exercisable/vesting dates between 08/03/2031 and 07/17/2035.
Positive
- Transparency: Initial beneficial ownership and equity awards are fully disclosed as required under Section 16.
- Equity incentives: Clear listing of stock options and performance stock units with exercise prices and vesting/exercisable dates through 2035.
Negative
- None.
Insights
TL;DR: Routine initial insider disclosure showing direct holdings plus long-dated options and PSUs, typical for senior executives.
The filing documents direct ownership of 4,761 total common shares across Class A and Class B and a portfolio of stock options and performance stock units that convert to Class B or Class A shares after the business combination. Option exercise prices are between $1.62 and $7.29 with multiple future exercisable/vesting dates through 2035. This is a standard Section 16 disclosure reflecting equity-based compensation rather than an immediate cash transaction.
TL;DR: Disclosure provides necessary transparency on executive equity and long-term incentive structure following the business combination.
The Form 3 clarifies conversion of legacy Angel Legacy, Inc. awards into the issuer's capital structure and describes tranche-based vesting for PSUs tied to stock-price milestones. The filing includes a Power of Attorney signature, indicating authorized filing. No departures, sales, or unusual transactions are reported here.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Holding | Stock Option (right to buy) | -- | -- | -- |
| Holding | Stock Option (right to buy) | -- | -- | -- |
| Holding | Stock Option (right to buy) | -- | -- | -- |
| Holding | Stock Option (right to buy) | -- | -- | -- |
| Holding | Performance Stock Units | -- | -- | -- |
| Holding | Performance Stock Units | -- | -- | -- |
| Holding | Performance Stock Units | -- | -- | -- |
| Holding | Performance Stock Units | -- | -- | -- |
| Holding | Performance Stock Units | -- | -- | -- |
| Holding | Class A Common Stock, par value $0.0001 per share | -- | -- | -- |
| Holding | Class B Common Stock, par value $0.0001 per share | -- | -- | -- |
Footnotes (9)
- F1. Prior to the Issuer's business combination (the "Business Combination"), the fully-vested stock options represented the right to purchase 30,000 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 160,513 shares of the Issuer's Class B Common Stock.
- F2. Prior to the Business Combination, the fully-vested stock options represented the right to purchase 10,000 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 53,504 shares of the Issuer's Class B Common Stock. Twenty-five percent (25%) of these options vested on April 1, 2023, with the remaining options vesting in equal monthly installments through April 1, 2026.
- F3. Prior to the Business Combination, the fully-vested stock options represented the right to purchase 3,485 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 18,646 shares of the Issuer's Class B Common Stock.
- F4. Prior to the Business Combination, the fully-vested stock options represented the right to purchase 5,000 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 26,752 shares of the Issuer's Class B Common Stock.
- F5. Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 16,730 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 89,513 shares of the Issuer's Class A Common Stock. These options will vest in 10 tranches, equally divided, with each tranche becoming vested based on a series of increasing stock price milestones.
- F6. Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 2,532 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 13,547 shares of the Issuer's Class A Common Stock. These options will vest in 10 tranches, equally divided, with each tranche becoming vested based on a series of increasing stock price milestones.
- F7. Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 18,640 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 99,732 shares of the Issuer's Class A Common Stock. These options will vest in 10 tranches, equally divided, with each tranche becoming vested based on a series of increasing stock price milestones.
- F8. Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 5,872 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 31,417 shares of the Issuer's Class A Common Stock. These options will vest in 10 tranches, equally divided, with each tranche becoming vested based on a series of increasing stock price milestones.
- F9. Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 1,061 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 5,676 shares of the Issuer's Class A Common Stock. These options will vest in 10 tranches, equally divided, with each tranche becoming vested based on a series of increasing stock price milestones.
FAQ
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Who filed the Form 3 for Angel Studios (ANGX)?
What equity awards are disclosed in the Form 3 for ANGX?
What are the exercise prices and latest exercisable dates listed?
Does the Form 3 show any sale or transfer of securities by the reporting person?
AI-generated analysis. How Rhea-AI works. Not financial advice.
