Director at Angel Studios (NASDAQ: ANGX) buys 321,544 shares

Rhea-AI Filing Summary

Angel Studios, Inc. director Steven I. Sarowitz reported an open-market purchase of Class A Common Stock. On 2026-05-05, he bought 321,544 shares at an average price of $3.0558 per share. After this transaction, he directly owns 326,840 shares of Angel Studios Class A Common Stock.

Insider Trade Summary

Net Buyer: 321,544 shares ($982,574)

Net Buy 1 txn

Insider Sarowitz Steven I

Role null

Bought 321,544 shs ($983K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock, par value $0.0001 per share	321,544	$3.0558	$983K

Holdings After Transaction: Class A Common Stock, par value $0.0001 per share — 326,840 shares (Direct, null)

Footnotes (1)

Key Figures

Shares purchased: 321,544 shares Purchase price: $3.0558 per share Shares owned after transaction: 326,840 shares +2 more

5 metrics

Shares purchased 321,544 shares Open-market purchase of Class A Common Stock on 2026-05-05

Purchase price $3.0558 per share Average price for 321,544 shares bought on 2026-05-05

Shares owned after transaction 326,840 shares Total direct holdings following the reported purchase

Buy transactions in filing 1 transaction transactionSummary buyCount for this Form 4

Net buy-sell shares 321,544 shares NetBuySellShares indicating net-buy direction

Key Terms

Class A Common Stock, par value, open-market purchase, non-derivative, +1 more

5 terms

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.

par value financial

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

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

non-derivative financial

"transaction_type": "non-derivative""

net-buy financial

"netBuySellDirection": "net-buy""

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^*

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)
05/05/2026

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	05/05/2026		P		321,544	A	$3.0558	326,840	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:

	/s/ Steve Sarowitz	05/07/2026
	** 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 insider transaction did ANGX director Steven Sarowitz report?

Director Steven I. Sarowitz reported an open-market purchase of 321,544 shares of Angel Studios Class A Common Stock. The transaction involved non-derivative securities and reflects a direct ownership position disclosed in a Form 4 insider filing with the SEC.

At what price did Steven Sarowitz buy Angel Studios (ANGX) shares?

Steven I. Sarowitz bought Angel Studios Class A Common Stock at an average price of $3.0558 per share. This price applies to the 321,544 shares acquired in an open-market purchase reported for the transaction dated 2026-05-05.

How many Angel Studios (ANGX) shares does Steven Sarowitz now hold?

Following the reported transaction, Steven I. Sarowitz directly holds 326,840 shares of Angel Studios Class A Common Stock. This figure represents his total direct ownership after purchasing 321,544 shares in the disclosed open-market transaction.

Was the ANGX insider transaction a purchase or a sale?

The ANGX insider transaction was a purchase. The Form 4 describes it as an open-market purchase of non-derivative Class A Common Stock, coded as “P,” indicating a buy rather than a sale or other type of disposition.

Did the ANGX Form 4 include any derivative securities activity?

No, the ANGX Form 4 transaction involved only non-derivative Class A Common Stock. The derivativeSummary section shows no remaining derivative positions, and the filing reports no option exercises, conversions, or other derivative transactions for this event.

How many buy and sell transactions were reported for ANGX in this Form 4?

The Form 4 for ANGX shows one buy transaction and no sales. The transactionSummary indicates a buyCount of 1, sellCount of 0, and a net-buy direction based on 321,544 shares acquired in the reported purchase.