Angel Studios (ANGX) director converts 5,296 RSUs into Class A common stock

Rhea-AI Filing Summary

Angel Studios, Inc. director Robert C. Gay exercised 5,296 Restricted Stock Units into the same number of shares of Class A common stock at a stated price of $0.0000 per share. These RSUs were granted under the 2025 Long-Term Incentive Plan and vest in substantially equal quarterly installments over one year beginning October 23, 2025.

Insider Trade Summary

5,296 shares exercised/converted

Mixed 2 txns

Insider GAY ROBERT C

Role null

Type	Security	Shares	Price	Value
Exercise	Class A Common Stock Restricted Stock Units	5,296	$0.00	--
Exercise	Class A Common Stock, par value $0.0001 per share	5,296	$0.00	--

Holdings After Transaction: Class A Common Stock Restricted Stock Units — 5,297 shares (Direct, null); Class A Common Stock, par value $0.0001 per share — 5,296 shares (Direct, null)

Footnotes (1)

1. RSU's convert into Class A Common Stock on a one-for-one basis. 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 exercised: 5,296 shares Exercise price: $0.0000 per share Vesting start date: October 23, 2025 +1 more

4 metrics

RSUs exercised 5,296 shares Restricted Stock Units converted into Class A common stock

Exercise price $0.0000 per share Stated price for RSU conversion into common stock

Vesting start date October 23, 2025 RSUs vest in substantially equal quarterly increments over one year

Derivative exercises 1 transaction, 5,296 shares Exercise or conversion of derivative security reported in Form 4

Key Terms

Restricted Stock Units, Long-Term Incentive Plan, Class A Common Stock, Exercise or conversion of derivative security

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.

Long-Term Incentive Plan financial

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

A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.

Class A Common Stock financial

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

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

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^*

GAY ROBERT C

(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)
05/22/2026

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	05/22/2026		M		5,296	A	(1)	5,296	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)	05/22/2026		M			5,296	(2)	(2)	Class A Common Stock, par value $0.0001 per share	5,296	(1)	5,297	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/ Patrick J. Reilly, Attorney-in-Fact	05/26/2026
	** 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)

FAQ

What insider transaction did Angel Studios (ANGX) report for Robert C. Gay?

Angel Studios reported that director Robert C. Gay acquired 5,296 shares of Class A common stock through the exercise of Restricted Stock Units. These RSUs converted into common shares on a one-for-one basis as part of his equity compensation.

How many Angel Studios (ANGX) shares were acquired in this Form 4 filing?

The Form 4 shows that 5,296 Restricted Stock Units converted into 5,296 shares of Class A common stock. This reflects an equity award vesting event rather than an open-market purchase or sale transaction by the director.

What are the terms of the Angel Studios (ANGX) RSUs granted to Robert C. Gay?

The Restricted Stock Units were granted under the 2025 Long-Term Incentive Plan and became effective on October 23, 2025. They vest in substantially equal quarterly increments over one year, with each vested RSU automatically converting into one share of common stock.

Were the Angel Studios (ANGX) RSUs exercised at a cash cost?

The reported exercise price per share for the 5,296 Restricted Stock Units converting into Class A common stock is $0.0000. This indicates the RSUs settled into shares as part of compensation, rather than requiring a cash payment like traditional stock options.

Does this Angel Studios (ANGX) Form 4 indicate any share sales by Robert C. Gay?

No sales are reported in this Form 4. The filing shows only acquisition activity through the exercise of 5,296 Restricted Stock Units into Class A common stock, with no corresponding disposition or open-market sale transactions disclosed for the same date.