Paul Ahlstrom - 03 Feb 2025 Form 4 Insider Report for Angel Studios, Inc.

Role: Director
Signature: /s/ Patrick J. Reilly, Attorney-in-fact
Issuer symbol: N/A
Transactions as of: 03 Feb 2025
Net transactions value: $0
Form type: 4
Filing time: 04 Feb 2025, 14:57:35 UTC
Previous filing: 30 Sep 2024
Next filing: 21 Apr 2025
SEC: View on sec.gov

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 (right to buy)	Award	$0	+29,149	+127%	$0.000000	52,182	03 Feb 2025	Class F Common Stock, par value $0.001 per share	29,149	$32.76	See Footnote	F1
transaction		Stock Options (right to buy)	Award	$0	+7,805	+15%	$0.000000	59,987	03 Feb 2025	Class F Common Stock, par value $0.001 per share	7,805	$32.76	See Footnote	F2

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

Explanation of Responses:

Id	Content
F1	Represents stock options granted to NISI Publishing, LLC under the Issuer's 2023 Stock Option Plan, exercisable for 29,149 shares of the Issuer's Class F Common Stock. These stock options will be fully vested upon issuance. Mr. Ahlstrom owns an indirect pecuniary interest in the stock options by virtue of his indirect controlling interest in their owner, NISI Publishing, LLC.
F2	Represents stock options granted to NISI Publishing, LLC under the Issuer's 2023 Stock Option Plan, exercisable for 7,805 shares of the Issuer's Class F Common Stock. These stock options will vest in substantially equal quarterly increments, over a one-year period beginning January 1, 2025. Mr. Ahlstrom owns an indirect pecuniary interest in the stock options by virtue of his indirect controlling interest in their owner, NISI Publishing, LLC.

Content

Represents stock options granted to NISI Publishing, LLC under the Issuer's 2023 Stock Option Plan, exercisable for 29,149 shares of the Issuer's Class F Common Stock. These stock options will be fully vested upon issuance. Mr. Ahlstrom owns an indirect pecuniary interest in the stock options by virtue of his indirect controlling interest in their owner, NISI Publishing, LLC.

Represents stock options granted to NISI Publishing, LLC under the Issuer's 2023 Stock Option Plan, exercisable for 7,805 shares of the Issuer's Class F Common Stock. These stock options will vest in substantially equal quarterly increments, over a one-year period beginning January 1, 2025. Mr. Ahlstrom owns an indirect pecuniary interest in the stock options by virtue of his indirect controlling interest in their owner, NISI Publishing, LLC.