Angel Studios CEO gifts 11.6M Class B shares
Angel Studios, Inc. Chief Executive Officer Harmon Neal reported bona fide gifts totaling 11,628,072 shares of Class B common stock.
Rhea-AI Filing Summary
Angel Studios, Inc. Chief Executive Officer Harmon Neal reported bona fide gifts totaling 11,628,072 shares of Class B common stock. These transfers include 5,073,000 shares to an irrevocable Delaware noncharitable purpose trust intended to permanently hold voting power and 3,277,536 shares to irrevocable estate-planning trusts for family members.
The filings state Neal received no consideration for the transfers and disclaims beneficial or pecuniary interest in the gifted shares, subject to limited potential pecuniary interest in certain family trusts. Following these transactions, he reports 13,682,147 Class B shares held directly and additional indirect trust holdings.
Positive
- None.
Negative
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Insider Trade Summary
11,628,072 shares gifted
Gift
3 txns
Insider
Harmon Neal
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Class B Common Stock, par value $0.0001 per share | 5,073,000 | $0.00 | $0.00 |
| Gift | Class B Common Stock, par value $0.0001 per share | 3,277,536 | $0.00 | $0.00 |
| Gift | Class B Common Stock, par value $0.0001 per share | 3,277,536 | $0.00 | $0.00 |
Holdings After Transaction:
Class B Common Stock, par value $0.0001 per share — 13,682,147 shares (Direct);
Class B Common Stock, par value $0.0001 per share — 3,277,536 shares (Indirect, Estate Planning Trusts)
Footnotes (2)
- F1. This transaction represents a bona fide gift of 5,073,000 shares of Class B Common Stock to an irrevocable Delaware noncharitable purpose trust. The purpose of the transfer is to preserve the voting power associated with the Class B Common Stock within the trust structure on a permanent basis. The trust has no named beneficiaries and the shares are not intended for distribution to any individual, including the reporting person's family members. The reporting person received no consideration for this transfer and disclaims all beneficial and pecuniary interest in the shares.
- F2. This transaction represents a bona fide gift of 3,277,536 shares of Class B Common Stock to irrevocable trusts established for the benefit of the reporting person's family members for estate planning purposes. The reporting person does not serve as trustee of the trusts and does not receive any financial benefit from the shares held therein. The reporting person disclaims beneficial ownership of the reported securities, except to the extent of any pecuniary interest he may be deemed to have under Rule 16a-1(a)(2) as a result of certain of the trustees being immediate family members who share his household.
Key Figures
Total shares gifted: 11,628,072 shares
Noncharitable purpose trust gift: 5,073,000 shares
Family estate-planning trusts gift: 3,277,536 shares
+2 more
5 metrics
Total shares gifted
11,628,072 shares
Aggregate gifts of Class B common stock
Noncharitable purpose trust gift
5,073,000 shares
Gift to irrevocable Delaware noncharitable purpose trust
Family estate-planning trusts gift
3,277,536 shares
Gift to irrevocable trusts for family members
Direct holdings after transactions
16,959,683 shares
Class B common stock held directly after gifts
Indirect trust holdings
3,277,536 shares
Class B shares held in estate-planning trusts
Key Terms
bona fide gift, irrevocable Delaware noncharitable purpose trust, estate planning purposes, pecuniary interest, +1 more
5 terms
bona fide gift financial
"This transaction represents a bona fide gift of 5,073,000 shares of Class B Common Stock"
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
irrevocable Delaware noncharitable purpose trust financial
"a bona fide gift of 5,073,000 shares of Class B Common Stock to an irrevocable Delaware noncharitable purpose trust"
estate planning purposes financial
"irrevocable trusts established for the benefit of the reporting person's family members for estate planning purposes"
pecuniary interest financial
"disclaims all beneficial and pecuniary interest in the shares"
beneficial ownership financial
"disclaims beneficial ownership of the reported securities, except to the extent of any pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did ANGX CEO Harmon Neal report?
Harmon Neal reported bona fide gifts of Class B common stock, not open-market sales. He transferred 11,628,072 shares to various irrevocable trusts, primarily for estate planning and voting-control purposes, and received no consideration for these transactions.
Were the ANGX CEO’s trust transfers open-market sales?
No, the transfers are characterized as bona fide gifts, not market sales. The filing states Neal received no consideration, and the shares were moved into irrevocable trusts for estate planning and voting-control purposes, rather than sold for cash.
What is the purpose of the noncharitable purpose trust in the ANGX filing?
The noncharitable purpose trust is intended to preserve voting power associated with the Class B shares on a permanent basis. It has no named beneficiaries, and the shares are not intended for distribution to any individual, including the reporting person’s family members.
AI-generated analysis. How Rhea-AI works. Not financial advice.
