Angel Studios director acquires 2,649 vested shares

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

Rhea-AI Filing Summary

Angel Studios, Inc. director Steven I. Sarowitz had 2,649 restricted stock units convert into 2,649 shares of Class A common stock on October 26, 2026. His reported direct holdings after the transaction were 1,332,137 shares. The RSUs were awarded under the issuer’s 2025 Long-Term Incentive Plan; no Rule 10b5-1 plan is reported.

Insider Trade Summary

2,649 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	2,649	--	--
Exercise	Class A Common Stock, par value $0.0001 per share F1	2,649	--	--

Holdings After Transaction: Class A Common Stock Restricted Stock Units — 0 contracts (Direct); Class A Common Stock, par value $0.0001 per share — 1,332,137 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

Restricted stock units converted: 2,649 RSUs Class A common shares acquired: 2,649 shares Direct holdings after transaction: 1,332,137 shares +1 more

4 metrics

Restricted stock units converted 2,649 RSUs October 26, 2026 transaction

Class A common shares acquired 2,649 shares October 26, 2026 transaction

Direct holdings after transaction 1,332,137 shares Steven I. Sarowitz’s reported position

RSU conversion ratio One share per RSU Automatic conversion upon vesting

Key Terms

Restricted Stock Units, 2025 Long-Term Incentive Plan, vesting, one-for-one basis

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."

vesting financial

"vesting in substantially equal quarterly increments, over a one-year period"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

one-for-one basis technical

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

FAQ

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

How many shares did ANGX director Steven I. Sarowitz acquire?

Steven I. Sarowitz’s 2,649 restricted stock units converted into 2,649 Class A common shares on October 26, 2026. His reported direct holdings after the conversion were 1,332,137 shares.

What were the vesting terms for the ANGX RSUs?

The RSUs were effective October 23, 2025, with vesting in substantially equal quarterly increments over a one-year period beginning that date. Each vested RSU automatically converts into one share of common stock.

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

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Available on EDGAR 10/27/2026 - 04:02 PM EDT Accepted by SEC EDGAR 10/27/2026 - 04:02 PM EDT 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)
10/26/2026

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	10/26/2026		M		2,649	A	(1)	1,332,137	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)	10/26/2026		M			2,649	(2)	(2)	Class A Common Stock, par value $0.0001 per share	2,649	(1)	0	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	10/27/2026
	** 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)