Angel Studios (ANGX) COO reports 20,000 Class B shares and stock options

Rhea-AI Filing Summary

Angel Studios, Inc. reported an insider equity transaction for its Chief Operating Officer on a Form 4. On 12/05/2025, the officer had a transaction in 20,000 shares of Class B common stock at $0.16 per share. After this activity, the officer directly beneficially owned 153,761 shares of Class B common stock and indirectly beneficially owned an additional 26,752 shares held by an immediate family member in the same household. The filing also reports a stock option for 20,000 shares of Class B common stock with an exercise price of $0.16 per share, which is fully vested and first exercisable on 08/10/2026, leaving the officer with 129,812 stock options beneficially owned following the reported transaction.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ellis Elizabeth

(Last) (First) (Middle)

295 W. CENTER ST.

(Street)

PROVO UT 84601

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/05/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class B Common Stock, par value $0.0001 per share	12/05/2025		X		20,000	A	$0.16	153,761	D
Class B Common Stock, par value $0.0001 per share								26,752	I	See Footnote(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$0.16	12/05/2025		X			20,000	(2)	08/10/2026	Class B Common Stock	20,000	$0	129,812	D

Explanation of Responses:

1. These shares of Class B Common Stock are held by an immediate family member of Mrs. Ellis sharing the same household. Mrs. Ellis is thus deemed to hold an indirect pecuniary interest in these shares of Class B Common Stock.

2. The fully-vested stock options represent the right to purchase shares of Angel Studios, Inc's Class B Common Stock, par value $0.0001 per share.

	/s/ Patrick J. Reilly, Attorney-in-Fact	12/09/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Angel Studios (ANGX) report on this Form 4?

The Form 4 reports that the Chief Operating Officer had a transaction on 12/05/2025 involving 20,000 shares of Angel Studios, Inc. Class B common stock at $0.16 per share, along with a related stock option position.

How many Angel Studios (ANGX) shares does the reporting officer own after the transaction?

Following the reported transaction, the officer beneficially owns 153,761 shares of Class B common stock directly and 26,752 shares indirectly through an immediate family member sharing the same household.

What stock options were disclosed for the Angel Studios (ANGX) officer?

The filing discloses a fully vested stock option representing the right to purchase 20,000 shares of Angel Studios Class B common stock at an exercise price of $0.16 per share, first exercisable on 08/10/2026. The officer holds 129,812 such derivative securities after the transaction.

What is the relationship of the reporting person to Angel Studios (ANGX)?

The reporting person is an officer of Angel Studios, Inc., serving as the Chief Operating Officer, as indicated in the filing.

How is indirect ownership of Angel Studios (ANGX) shares described in this filing?

The Form 4 states that 26,752 shares of Class B common stock are held by an immediate family member of the officer who shares the same household, giving the officer an indirect pecuniary interest in those shares.

What class of Angel Studios (ANGX) stock is involved in this Form 4?

All reported securities, including both directly held shares and those underlying stock options, are Class B common stock of Angel Studios, Inc., with a par value of $0.0001 per share.