Angel Studios director RSUs convert to shares

Angel Studios, Inc. director Steven I. Sarowitz reported the vesting and conversion of 2,648 Restricted Stock Units into an equal number of Class A Common shares on July 23, 2026.

Rhea-AI Filing Summary

Angel Studios, Inc. director Steven I. Sarowitz reported the vesting and conversion of 2,648 Restricted Stock Units into an equal number of Class A Common shares on July 23, 2026. His direct common-share holdings are 329,488 shares after the transaction, and he holds 2,649 RSUs granted under the 2025 Long-Term Incentive Plan, which vest in substantially equal quarterly increments over a one-year period beginning October 23, 2025. The filing indicates these transactions were not executed under a Rule 10b5-1 trading plan.

Insider Trade Summary

2,648 shares exercised/converted

Exercise 2 txns

Insider Sarowitz Steven I

Role Director

Type	Security	Shares	Price	Value
Exercise	Class A Common Stock Restricted Stock Units F2, F1	2,648	--	--
Exercise	Class A Common Stock, par value $0.0001 per share F1	2,648	--	--

Holdings After Transaction: Class A Common Stock Restricted Stock Units — 2,649 contracts (Direct); Class A Common Stock, par value $0.0001 per share — 329,488 shares (Direct)

Footnotes (2)

1. F1. RSU's convert into Class A Common Stock on a one-for-one basis.
2. F2. 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 converted to common stock: 2,648 RSUs Common shares acquired: 2,648 shares Common shares held after: 329,488 shares +3 more

6 metrics

RSUs converted to common stock 2,648 RSUs Restricted Stock Units exercised/converted on July 23, 2026

Common shares acquired 2,648 shares Class A Common Stock received upon RSU conversion on July 23, 2026

Common shares held after 329,488 shares Direct Class A Common Stock holdings of Steven I. Sarowitz following the transactions

RSUs held after 2,649 RSUs Restricted Stock Units remaining after partial vesting under the 2025 Long-Term Incentive Plan

RSU plan effective date October 23, 2025 Effective date of RSUs granted under the 2025 Long-Term Incentive Plan

Vesting period length one-year period RSUs vest in substantially equal quarterly increments over a one-year period beginning October 23, 2025

Key Terms

Restricted Stock Units, 2025 Long-Term Incentive Plan, vest in substantially equal quarterly increments, par value $0.0001 per share

4 terms

Restricted Stock Units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

2025 Long-Term Incentive Plan financial

"RSUs are awarded under the Issuer's 2025 Long-Term Incentive Plan."

vest in substantially equal quarterly increments financial

"The RSUs vest in substantially equal quarterly increments, over a one-year period"

par value $0.0001 per share financial

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

FAQ

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

What insider transaction did Angel Studios (ANGX) report for Steven I. Sarowitz?

Angel Studios reported that director Steven I. Sarowitz had 2,648 Restricted Stock Units vest and automatically convert into 2,648 Class A Common shares on July 23, 2026. This is an equity compensation vesting event, not an open-market purchase or sale.

How many Angel Studios (ANGX) shares does Steven I. Sarowitz hold after this Form 4?

After the reported transactions, Steven I. Sarowitz directly holds 329,488 shares of Angel Studios Class A Common Stock. He also holds 2,649 Restricted Stock Units that remain outstanding under the company’s 2025 Long-Term Incentive Plan.

What is the vesting schedule of the Angel Studios (ANGX) RSUs reported?

The reported Restricted Stock Units were granted under the 2025 Long-Term Incentive Plan, effective October 23, 2025, and vest in substantially equal quarterly increments over a one-year period starting on that date. Each vested RSU converts automatically into one share of common stock.

Were the ANGX insider transactions made under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as affirming a trading plan, indicating these transactions were not executed under a Rule 10b5-1 plan. They reflect scheduled equity compensation vesting instead.

Did the Angel Studios (ANGX) Form 4 reflect a net purchase or sale of shares?

The Form 4 reflects a conversion of 2,648 RSUs into 2,648 common shares, recorded as a derivative disposition and a matching common-share acquisition. This results in no net change in the number of equity units tied to this vesting event.

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

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Available on EDGAR 07/24/2026 - 04:08 PM Accepted by SEC EDGAR 07/24/2026 - 04:08 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)
07/23/2026

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	07/23/2026		M		2,648	A	(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
Class A Common Stock Restricted Stock Units	(2)	07/23/2026		M			2,648	(2)	(2)	Class A Common Stock, par value $0.0001 per share	2,648	(1)	2,649	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/ Steve Sarowitz	07/24/2026
	** 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)