Stephen D. Oskoui - Sep 12, 2025 Form 4 Insider Report for Angel Studios, Inc. (ANGX)

Role: 10%+ Owner
Signature: /s/ Stephen D. Oskoui
Stock symbol: ANGX
Transactions as of: Sep 12, 2025
Transactions value $: $0
Form type: 4
Date filed: 9/16/2025, 06:48 PM
Previous filing: Feb 14, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Oskoui Stephen D.	10%+ Owner	555 E. 5TH STREET #3127, AUSTIN	/s/ Stephen D. Oskoui	2025-09-16	0002020826

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ANGX	Class A Common Stock	Conversion of derivative security		+53.5K			53.5K	Sep 12, 2025	Direct	F1
holding	ANGX	Class A Common Stock						19.5M	Sep 12, 2025	See footnote	F2

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
transaction	ANGX	Class B Common Stock	Conversion of derivative security	$0	-53.5K	-100%	$0.00	0	Sep 12, 2025	Class A Common Stock	53.5K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of Class B Common Stock was convertible at any time into one share of Class A Common Stock. The Class B Common Stock had no expiration date.
F2	These shares of Class A Common Stock are directly held by Gigafund 1, LP. Gigafund 1 GP, LP is the general partner of Gigafund 1, LP. The Reporting Person and Luke Nosek control all voting and investments decisions with respect to securities held by Gigafund 1, LP and Gigafund 1 GP, LP. The Reporting Person may be deemed to beneficially own the Class A Common Stock directly held by Gigafund 1, LP and disclaims beneficial ownership of the securities, except to the extent of his pecuniary interest therein. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of the reported securities.

Content

Each share of Class B Common Stock was convertible at any time into one share of Class A Common Stock. The Class B Common Stock had no expiration date.

These shares of Class A Common Stock are directly held by Gigafund 1, LP. Gigafund 1 GP, LP is the general partner of Gigafund 1, LP. The Reporting Person and Luke Nosek control all voting and investments decisions with respect to securities held by Gigafund 1, LP and Gigafund 1 GP, LP. The Reporting Person may be deemed to beneficially own the Class A Common Stock directly held by Gigafund 1, LP and disclaims beneficial ownership of the securities, except to the extent of his pecuniary interest therein. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of the reported securities.