Elizabeth Ellis - 05 Dec 2025 Form 4 Insider Report for Angel Studios, Inc. (PORT)

Role: Chief Operating Officer
Signature: /s/ Patrick J. Reilly, Attorney-in-Fact
Issuer symbol: PORT
Transactions as of: 05 Dec 2025
Net transactions value: +$3,200
Form type: 4
Filing time: 09 Dec 2025, 16:25:01 UTC
Previous filing: 20 Nov 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Ellis Elizabeth	Chief Operating Officer	295 W. CENTER ST., PROVO	/s/ Patrick J. Reilly, Attorney-in-Fact	09 Dec 2025	0002020252

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ANGX	Class B Common Stock, par value $0.0001 per share	Exercise of in-the-money or at-the-money derivative security	$3,200	+20,000	+15%	$0.1600	153,761	05 Dec 2025	Direct
holding	ANGX	Class B Common Stock, par value $0.0001 per share						26,752	05 Dec 2025	See Footnote	F1

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	Stock Option (Right to Buy)	Exercise of in-the-money or at-the-money derivative security	$0	-20,000	-13%	$0.000000	129,812	05 Dec 2025	Class B Common Stock	20,000	$0.1600	Direct	F2

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

Explanation of Responses:

Id	Content
F1	These shares of Class B Common Stock are held by an immediate family member of Mrs. Ellis sharing the same household. Mrs. Ellis is thus deemed to hold an indirect pecuniary interest in these shares of Class B Common Stock.
F2	The fully-vested stock options represent the right to purchase shares of Angel Studios, Inc's Class B Common Stock, par value $0.0001 per share.