Patrick J. Reilly - 10 Sep 2024 Form 4 Insider Report for Angel Studios, Inc.

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		Stock Options	Award		+50,854	+244%		71,722	10 Sep 2024	Class C Common Stock, par value $0.001 per share	50,854	$30.24	Direct	F1

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

Id	Content
F1	Represents stock options, granted under the Issuer's 2023 Performance Equity Plan, exercisable for 50,854 shares of the Issuer's Class C Common Stock. These options will vest in 10 tranches, equally divided, with each tranche becoming vested based on a series of increasing stock price milestones.