Director at Angel Studios (ANGX) exercises 2,648 RSUs into shares

Rhea-AI Filing Summary

Angel Studios, Inc. director Crane Benton Deloss exercised restricted stock units into common shares. On April 23, 2026, 2,648 Class A Common Stock RSUs converted on a one-for-one basis into 2,648 shares at an exercise price of $0.00 per share. Following the transaction, Deloss directly holds 205,296 shares of Class A Common Stock and 5,297 Class A Common Stock RSUs. The RSUs were awarded under the company’s 2025 Long-Term Incentive Plan and, according to the award terms, became effective on October 23, 2025 and vest in substantially equal quarterly installments over one year, with each vested RSU automatically converting into one share of common stock.

Insider Trade Summary

2,648 shares exercised/converted

Mixed 2 txns

Insider Crane Benton Deloss

Role null

Type	Security	Shares	Price	Value
Exercise	Class A Common Stock Restricted Stock Units	2,648	$0.00	--
Exercise	Class A Common Stock, par value $0.0001 per share	2,648	$0.00	--

Holdings After Transaction: Class A Common Stock Restricted Stock Units — 5,297 shares (Direct, null); Class A Common Stock, par value $0.0001 per share — 205,296 shares (Direct, null)

Footnotes (1)

1. RSU's convert into Class A Common Stock on a one-for-one basis. Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

Key Figures

RSUs exercised: 2,648 units Exercise price: $0.00 per share Shares held after: 205,296 shares +2 more

5 metrics

RSUs exercised 2,648 units Class A Common Stock RSUs converted on April 23, 2026

Exercise price $0.00 per share Conversion of RSUs into Class A Common Stock

Shares held after 205,296 shares Class A Common Stock directly held following transaction

RSUs remaining 5,297 units Class A Common Stock RSUs held after transaction

RSU vesting period 1 year Substantially equal quarterly vesting from October 23, 2025

Key Terms

Restricted Stock Units ("RSUs"), 2025 Long-Term Incentive Plan, Class A Common Stock Restricted Stock Units, Exercise or conversion of derivative security

4 terms

Restricted Stock Units ("RSUs") financial

"Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

2025 Long-Term Incentive Plan financial

"Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan."

Class A Common Stock Restricted Stock Units financial

"security_title": "Class A Common Stock Restricted Stock Units""

Exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

Form 4 Insider Transactions: What Each Field Means →

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^*

Crane Benton Deloss

(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)
04/23/2026

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	04/23/2026		M		2,648	A	(1)	205,296	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
Class A Common Stock Restricted Stock Units	(2)	04/23/2026		M			2,648	(2)	(2)	Class A Common Stock, par value $0.0001 per share	2,648	(1)	5,297	D

Explanation of Responses:

1. RSU's convert into Class A Common Stock on a one-for-one basis.

2. Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

	/s/ Patrick J. Reilly, Attorney-in-Fact	04/24/2026
	** 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)

FAQ

What did Angel Studios (ANGX) director Crane Benton Deloss report on this Form 4?

Crane Benton Deloss reported exercising 2,648 restricted stock units into Class A Common Stock. These RSUs converted one-for-one into 2,648 shares at a $0.00 exercise price, increasing his directly held common shares and reflecting routine equity compensation activity.

How many Angel Studios (ANGX) shares does Crane Benton Deloss hold after the RSU exercise?

After the RSU exercise, Crane Benton Deloss directly holds 205,296 shares of Angel Studios Class A Common Stock. He also holds 5,297 Class A Common Stock RSUs, which represent additional potential shares that will convert as they vest under the incentive plan’s terms.

What are the key details of the Angel Studios (ANGX) RSU award reported?

The RSUs are Class A Common Stock Restricted Stock Units granted under Angel Studios’ 2025 Long-Term Incentive Plan. The award became effective on October 23, 2025 and vests in substantially equal quarterly increments over one year, with each vested RSU automatically converting into one share.

How many Angel Studios (ANGX) RSUs did Crane Benton Deloss exercise in this transaction?

Crane Benton Deloss exercised 2,648 Class A Common Stock RSUs in this transaction. Each RSU converted into one share of common stock at a $0.00 exercise price, resulting in 2,648 new shares of Class A Common Stock being added to his direct holdings on the transaction date.

Does Crane Benton Deloss still hold Angel Studios (ANGX) RSUs after this Form 4?

Yes. Following the reported exercise, Crane Benton Deloss continues to hold 5,297 Class A Common Stock RSUs. These remaining RSUs are scheduled to vest in substantially equal quarterly installments over a one-year period, with each vested unit automatically converting into one common share.