Angel Studios director buys 88,647 shares

A director of Angel Studios, Inc. increased his direct holdings with an open-market stock purchase.

Rhea-AI Filing Summary

Angel Studios, Inc. (ANGX) director Steven I. Sarowitz purchased Class A Common Stock on September 11, 2026. He bought 88,647 shares at a weighted average price of $5.3313 per share in multiple trades, and now directly holds 1,329,488 shares of Angel Studios Class A Common Stock.

Insider Trade Summary

Net Buyer: 88,647 shares

Net Buy 1 txn

Insider Sarowitz Steven I

Role Director

Bought 88,647 shs ($473K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock, par value $0.0001 per share F1	88,647	$5.3313	$473K

Holdings After Transaction: Class A Common Stock, par value $0.0001 per share — 1,329,488 shares (Direct)

Footnotes (1)

1. F1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.2750 to $5.4000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Key Figures

Shares purchased: 88,647 shares Weighted average purchase price: $5.3313 per share Purchase price range: $5.2750–$5.4000 per share +2 more

5 metrics

Shares purchased 88,647 shares Open-market purchase on September 11, 2026

Weighted average purchase price $5.3313 per share Average price across multiple trades on September 11, 2026

Purchase price range $5.2750–$5.4000 per share Range of prices paid in the September 11, 2026 trades

Shares owned after transaction 1,329,488 shares Direct holdings of Steven I. Sarowitz following the purchase

Transaction date September 11, 2026 Date of the reported open-market purchase

Key Terms

weighted average price, Rule 10b5-1 trading plan, Class A Common Stock

3 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Rule 10b5-1 trading plan regulatory

"No Rule 10b5-1 plan is reported for this transaction."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

Class A Common Stock financial

"Class A Common Stock, par value $0.0001 per share"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ANGX report for director Steven I. Sarowitz?

ANGX reported that director Steven I. Sarowitz purchased 88,647 shares of Class A Common Stock in an open-market transaction on September 11, 2026.

At what price did the ANGX director buy shares?

The director’s purchase had a weighted average price of $5.3313 per share, with individual trades executed in a range from $5.2750 to $5.4000 per share.

How many ANGX shares does Steven I. Sarowitz own after this transaction?

After the reported purchase, Steven I. Sarowitz directly owns 1,329,488 shares of Angel Studios, Inc. Class A Common Stock.

Was the ANGX insider trade made under a Rule 10b5-1 trading plan?

No. The filing indicates that no Rule 10b5-1 trading plan was reported for this transaction.

What type of security did the ANGX director purchase?

The transaction involved Class A Common Stock, par value $0.0001 per share, of Angel Studios, Inc.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/14/2026 - 04:15 PM Accepted by SEC EDGAR 09/14/2026 - 04:14 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Sarowitz Steven I

(Last) (First) (Middle)

295 W. CENTER ST

(Street)

PROVO UTAH 84601

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2026

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

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

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

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 A Common Stock, par value $0.0001 per share	09/11/2026		P		88,647	A	$5.3313(1)	1,329,488	D

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.2750 to $5.4000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

	/s/ Steve Sarowitz	09/14/2026
	** 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 4 (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.
* Form 4: SEC 1474 (03-26)