[Form 4] Southport Acquisition Corp Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction reported on Form 4 for Angel Studios, Inc. (ANGX). The report shows that Seth Taylor, listed as Chief Experience Officer and director/officer, had a transaction dated 09/11/2025 involving Class A common stock. The filing records a disposition of 4,505 shares at a reported price of $17.54 per share. The Form 4 was signed by an attorney-in-fact on 09/22/2025. No derivative transactions or additional context are provided in the filing.

Insights

Securities Analyst

TL;DR: Officer reported a single disposition of 4,505 Class A shares at $17.54; filing contains no further context.

The Form 4 discloses a non-derivative sale/transfer dated 09/11/2025 by Seth Taylor, an officer and director-level reporting person at Angel Studios (ANGX). The filing lists the quantity sold and the per-share price but does not state the reason for the disposition, whether it was a planned sale under a Section 10b5-1 plan, or the percentage of total holdings represented. Given the limited data, the transaction is recorded but appears routine; the filing lacks information to assess impact on ownership percentage or control.

Corporate Governance Expert

TL;DR: Routine disclosure of an officer's share disposition; materiality cannot be judged from this Form 4 alone.

The document properly reports a reported disposition of 4,505 shares by a named officer. It is signed by an attorney-in-fact and contains no additional narrative, such as plan identifiers or aggregation of multiple lines. From a governance perspective, the filing meets reporting requirements but does not provide sufficient detail to infer motives, whether the sale was pre-planned, or its effect on insider alignment with shareholders.

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
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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^*

Taylor Seth

(Last) (First) (Middle)

295 W. CENTER ST

(Street)

PROVO UT 84601

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Angel Studios, Inc. [ ANGX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Experience Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	09/11/2025		P		11	A	$17.54	4,505	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/ Patrick J. Reilly, Attorney-in-Fact	09/22/2025
	** 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.

FAQ

What did the Form 4 for Angel Studios (ANGX) report?

The Form 4 reports a disposition of 4,505 Class A shares by Seth Taylor on 09/11/2025 at a price of $17.54 per share.

Who is the reporting person on this Form 4?

The reporting person is Seth Taylor, listed as Chief Experience Officer and indicated as a director/officer of Angel Studios (ANGX).

Was a derivative transaction reported in this filing?

No. The filing contains entries in Table I for non-derivative securities and does not report any derivative securities in Table II.

When was the Form 4 signed?

The filing was signed by an attorney-in-fact, Patrick J. Reilly, on 09/22/2025.

Does the Form 4 explain the reason for the sale or whether it was a planned transaction?

No. The document does not state a reason for the disposition or indicate whether it was made pursuant to a Rule 10b5-1 plan or other instruction.