Form 4: Angel Studios Director Converts RSUs to Class A Stock

Angel Studios Director Steven I. Sarowitz converted 2,648 Restricted Stock Units into Class A Common Stock on January 26, 2026.

Summary

• Steven I. Sarowitz, a Director of Angel Studios, Inc. (ANGX), reported a transaction on January 26, 2026.
• The transaction involved the conversion of 2,648 Restricted Stock Units (RSUs) into an equal number of Class A Common Stock shares.
• Following this transaction, Mr. Sarowitz directly beneficially owns 2,648 shares of Class A Common Stock.
• Additionally, Mr. Sarowitz beneficially owns 7,945 derivative securities, specifically Restricted Stock Units.
• The RSUs were awarded under the Issuer's 2025 Long-Term Incentive Plan, effective October 23, 2025.
• These RSUs vest in substantially equal quarterly increments over a one-year period starting October 23, 2025, with each vested RSU automatically converting into one share of common stock.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it reflects a director's continued equity ownership through a routine vesting process, which generally aligns insider interests with shareholders. It is not highly impactful but is a standard, expected event.

Positives

• A director converting RSUs to common stock can be seen as a routine part of compensation, aligning insider interests with shareholders.
• The acquisition of common stock by a director, even through vesting, indicates continued ownership and potential confidence in the company's future.

Future Outlook

The remaining 7,945 Restricted Stock Units held by Mr. Sarowitz are expected to vest in substantially equal quarterly increments over the remainder of a one-year period, which began on October 23, 2025, with each vesting converting into one share of Class A Common Stock.

Industry Context

This filing is a standard insider transaction disclosure, common across all publicly traded industries, reflecting a director's equity compensation vesting and conversion. It does not provide specific insights into broader industry trends for media or entertainment companies.

Stakeholder Impact

• Shareholders: The transaction indicates a director's ongoing equity stake, which can be viewed as a positive signal of alignment with shareholder interests, though it is a routine compensation event.

Next Steps

• Continued vesting of the remaining 7,945 Restricted Stock Units in substantially equal quarterly increments over the one-year period that began on October 23, 2025.

Key Dates

Keywords

Angel Studios, ANGX, Steven I. Sarowitz, Form 4, Insider Transaction, Restricted Stock Units, RSU Conversion, Class A Common Stock, Director Ownership, Equity Compensation