Paul Ahlstrom - Sep 10, 2025 Form 3 Insider Report for Angel Studios, Inc. (ANGX)

Role
Director
Signature
/s/ Patrick J. Reilly, Attorney-in-Fact
Stock symbol
ANGX
Transactions as of
Sep 10, 2025
Transactions value $
$0
Form type
3
Date filed
9/22/2025, 09:56 PM
Previous filing
Apr 21, 2025
Next filing
Oct 28, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Ahlstrom Paul Director 295 W. CENTER ST., PROVO /s/ Patrick J. Reilly, Attorney-in-Fact 2025-09-22 0002020125

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding ANGX Class A Common Stock, par value $0.0001 per share 1.95M Sep 10, 2025 Direct
holding ANGX Class A Common Stock, par value $0.0001 per share 1.71K Sep 10, 2025 By NISI Publishing, LLC.
holding ANGX Class A Common Stock, par value $0.0001 per share 3.64M Sep 10, 2025 By Alta Ventures Mexico Fund I, LP.
holding ANGX Class B Common Stock, par value $0.0001 per share 1.71K Sep 10, 2025 By NISI Publishing, LLC.

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding ANGX Stock Option (right to buy) Sep 10, 2025 Class B Common Stock 123K $2.24 By NISI Publishing, LLC. F1
holding ANGX Stock Option (right to buy) Sep 10, 2025 Class B Common Stock 156K $6.13 By NISI Publishing, LLC. F2
holding ANGX Stock Option (right to buy) Sep 10, 2025 Class B Common Stock 41.8K $6.13 By NISI Publishing, LLC. F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Prior to the Issuer's business combination (the "Business Combination"), the fully-vested stock options represented the right to purchase 23,033 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 123,237 shares of the Issuer's Class B Common Stock.
F2 Prior to the Business Combination, the fully-vested stock options represented the right to purchase 29,149 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 155,960 shares of the Issuer's Class B Common Stock.
F3 Prior to the Business Combination, the stock options represented the right to purchase 7,805 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the stock options converted into the right to purchase 41,760 shares of the Issuer's Class B Common Stock. These stock options will vest in substantially equal quarterly increments, over a one-year period beginning January 1, 2025.

Remarks:

Exhibit 24 - Power of Attorney