Angel Studios Inc SEC Filings

Form 3 initial ownership filing by Harmon Jordan for Angel Studios, Inc. (ANGX). The filing reports direct ownership of 8,673 shares of Class A common stock and 647,079 shares of Class B common stock. It also discloses multiple stock options and performance stock units that convert into Class A or Class B shares, including exercisable options covering 535,046; 288,282; 1,070,092; and 1,605,138 Class B shares, plus several PSUs totaling hundreds of thousands of Class A shares. Vesting schedules and exercise prices are provided as listed.

Jeffrey Harmon, Chief Content Officer of Angel Studios, Inc. (ANGX), filed an initial Form 3 reporting his and household-affiliated holdings following a reportable event dated 09/10/2025. He directly holds 26,324 shares of Class A common stock and 21,911,388 shares of Class B common stock. He also reports an indirect pecuniary interest in 319,101 Class A shares held by an immediate family member in the same household. Several stock options and performance stock units converted after a prior business combination and now cover both Class A and Class B shares, including fully vested options exercisable in 2028, and multiple performance stock unit grants that convert to Class A shares and vest based on stock-price milestones.

Jared Geesey filed a Form 3 reporting initial beneficial ownership in Angel Studios, Inc. (ANGX). The filing discloses multiple stock options exercisable into Class B Common Stock: 42,803; 53,504; 91,803; and 13,376 shares with exercise prices of $1.67, $2.24, $2.24 and $2.66 respectively. It also reports performance stock units convertible into Class A Common Stock: 149,925; 22,129; 67,897; 46,971; and 11,385 shares, each vesting under specified schedules and performance milestones following the issuer's business combination.

Elizabeth Ellis, Chief Operating Officer, filed a Form 3 reporting initial beneficial ownership in Angel Studios, Inc. (ANGX). The filing discloses 5,264 Class A shares directly and 133,761 Class B shares directly, plus an indirect interest in 26,752 Class B shares held by a household family member. The report also lists numerous stock options and performance stock units that convert to Class A or B shares with various exercise prices and vesting schedules.

Form 3 filed for Angel Studios, Inc. (ANGX) discloses initial beneficial ownership by Gigafund-related reporting persons. Gigafund 1, LP directly holds 19,459,882 shares of Class A common stock. An additional 53,504 shares of Class A common stock are reported (directly held by Stephen D. Oskoui per footnote). The filing also shows options to purchase 137,651 shares of Class B common stock exercisable beginning 09/10/2025 with an exercise price of $2.24 and an expiration date of 12/02/2032. Reporting persons listed include Gigafund 1 GP, LP, Luke Nosek, and Stephen D. Oskoui, each identified as a director and 10% owner, and several disclaimers note they disclaim beneficial ownership except for pecuniary interests.

Jeffrey Harmon, Chief Content Officer of Angel Studios, Inc., reports beneficial ownership of 22,267,509 shares of the issuer's common stock, representing approximately 18.2% of outstanding common stock on a fully converted basis. The total includes direct holdings of Class A and Class B shares, founder's shares granted at formation, modest purchases under Regulation A and CF offerings, compensation grants and vested options exercisable within 60 days for conversion into Class A shares. Harmon states the shares are held for investment and employment-related incentive purposes and that he intends to remain active in management. A lock-up agreement restricts transfers for up to one year after the closing date, subject to customary price-based early release conditions.

Neal Harmon, Chief Executive Officer and Chairman of Angel Studios, Inc., filed a Schedule 13D reporting beneficial ownership of 22,389,906 shares of the issuer's common stock, representing approximately 18.3% of the 99,910,315 shares outstanding as of September 11, 2025. The total includes 26,495 Class A shares held directly, 22,032,683 Class B shares convertible one-for-one into Class A, and vested options exercisable for 330,728 Class B shares within 60 days of September 11, 2025. Shares were acquired as founder's shares, via a Regulation CF purchase, and as compensation. Harmon states the shares are held for investment and to align incentives with his executive role. He entered a lock-up restricting transfers for up to one year, subject to release conditions tied to share price thresholds of $12.50 and $15.00 over specified trading windows.

Angel Studios, Inc. received a Schedule 13G filing disclosing that Gigafund entities and two individuals report beneficial ownership of a substantial stake in the issuer's Class A common stock. Gigafund 1, LP and Gigafund 1 GP, LP each report 19,459,882 Class A Shares, representing 19.48% of the 99,910,315 Class A Shares outstanding as of September 11, 2025. Individual filings show Luke Nosek and Stephen D. Oskoui each are reported with shared voting and dispositive power over those same 19,459,882 shares; Mr. Oskoui separately reports 191,155 shares held solely and an option for 137,651 Class B Shares convertible into Class A Shares, giving him an aggregate reported position of 19,651,037 shares or 19.64%.

The filing states that Mr. Nosek and Mr. Oskoui together control voting and investment decisions for the Gigafund-held shares and that the holdings were not acquired to influence control of the issuer. A Joint Filing Agreement is included as Exhibit 99.1.

Stephen D. Oskoui, a director of Angel Studios, Inc., reported transactions on Form 4 showing a conversion and his firm's holdings. On 09/12/2025 he converted 53,504 shares of Class B common stock into 53,504 shares of Class A common stock at a $0 conversion price. After the reported transaction he directly held 53,504 Class A shares. He also beneficially owns 19,459,882 Class A shares indirectly through Gigafund 1, LP, where Gigafund 1 GP, LP is the general partner and Mr. Oskoui and Luke Nosek control voting and investment decisions. The report disclaims ownership except to the extent of pecuniary interest.