Elizabeth Ellis - 10 Sep 2025 Form 3 Insider Report for Angel Studios, Inc. (PORT)

Reporting relationship
Chief Operating Officer
Issuer ticker
PORT
Reported as of
10 Sep 2025
Net transaction value
$0
Source evidence Original filing metadata and source links for verification. 5 source fields
SEC form
3
Accepted by SEC
22 Sep 2025, 21:51:58 UTC
Prior SEC filing
21 Jul 2025
Next SEC filing
20 Nov 2025
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
/s/ Patrick J. Reilly, Attorney-in-Fact

Key filing fact

Elizabeth Ellis filed Form 3 for Angel Studios, Inc. (PORT) on 22 Sep 2025.

Key facts

  • This page summarizes Elizabeth Ellis's Form 3 filing for Angel Studios, Inc. (PORT).
  • 0 reported transactions and 13 derivative rows are listed below.
  • Accepted by SEC: 22 Sep 2025, 21:51.

Change

  • Previous filing in this sequence was filed on 21 Jul 2025.
  • Current net transaction value: $0.

Research use

  • This tells you what this filing adds before you inspect full transaction and derivative tables.
  • You can trace every row back to the original SEC filing document.

Evidence

Official SEC source

Ownership activity is grounded in SEC Form 3 disclosures.

View source filing

Reporting Owners (1)

CIK 0002020252 Primary reporting owner

Ellis Elizabeth

Relationship
Chief Operating Officer
Address
295 W. CENTER ST., PROVO
Signature
/s/ Patrick J. Reilly, Attorney-in-Fact
Signature date
22 Sep 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ANGX holding

Class A Common Stock, par value $0.0001 per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
5,264
Date
10 Sep 2025
Ownership
Direct
ANGX holding

Class B Common Stock, par value $0.0001 per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
26,752
Date
10 Sep 2025
Ownership
See Footnote
Footnotes
F1
ANGX holding

Class B Common Stock, par value $0.0001 per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
133,761
Date
10 Sep 2025
Ownership
Direct

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

ANGX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
149,812
Exercise price
$0.1600
Footnotes
F2
ANGX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
5,446
Exercise price
$0.0600
Footnotes
F3
ANGX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
107,009
Exercise price
$0.0600
Footnotes
F4
ANGX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
541,734
Exercise price
$0.0600
Footnotes
F5
ANGX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
62,696
Exercise price
$0.6400
Footnotes
F6
ANGX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
267,710
Exercise price
$1.62
Footnotes
F7
ANGX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
38,410
Exercise price
$2.24
Footnotes
F8
ANGX holding Derivative

Stock Option (right to buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class B Common Stock
Underlying amount
355,784
Exercise price
$2.66
Footnotes
F9
ANGX holding Derivative

Performance Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class A Common Stock
Underlying amount
88,416
Exercise price
$2.66
Footnotes
F10
ANGX holding Derivative

Performance Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class A Common Stock
Underlying amount
24,173
Exercise price
$2.66
Footnotes
F11
ANGX holding Derivative

Performance Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class A Common Stock
Underlying amount
285,853
Exercise price
$5.66
Footnotes
F12
ANGX holding Derivative

Performance Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class A Common Stock
Underlying amount
43,065
Exercise price
$6.13
Footnotes
F13
ANGX holding Derivative

Performance Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
Date
10 Sep 2025
Ownership
Direct
Underlying class
Class A Common Stock
Underlying amount
18,501
Exercise price
$7.29
Footnotes
F14
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 14 footnotes

Footnote 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.

Footnote F2

Prior to the Issuer's business combination (the "Business Combination"), the fully-vested stock options represented the right to purchase 28,000 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 149,812 shares of the Issuer's Class B Common Stock.

Footnote F3

Prior to the Business Combination, the fully-vested stock options represented the right to purchase 1,018 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 5,446 shares of the Issuer's Class B Common Stock.

Footnote F4

Prior to the Business Combination, the fully-vested stock options represented the right to purchase 20,000 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 107,009 shares of the Issuer's Class B Common Stock.

Footnote F5

Prior to the Business Combination, the fully-vested stock options represented the right to purchase 101,250 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 541,734 shares of the Issuer's Class B Common Stock.

Footnote F6

Prior to the Business Combination, the fully-vested stock options represented the right to purchase 11,718 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 62,696 shares of the Issuer's Class B Common Stock.

Footnote F7

Prior to the Business Combination, the fully-vested stock options represented the right to purchase 50,035 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 267,710 shares of the Issuer's Class B Common Stock.

Footnote F8

Prior to the Business Combination, the fully-vested stock options represented the right to purchase 7,179 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the fully-vested stock options converted into the right to purchase 38,410 shares of the Issuer's Class B Common Stock.

Footnote F9

Prior to the Business Combination, the stock options represented the right to purchase 66,496 shares of Angel Legacy, Inc's Class F Common Stock, par value $0.001 per share. Following the Issuer's business combination, the stock options converted into the right to purchase 355,784 shares of the Issuer's Class B Common Stock. Twenty-five percent (25%) of these options vested on April 20, 2024, with the remaining options vesting in equal monthly installments through April 20, 2027.

Footnote F10

Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 16,525 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 88,416 shares of the Issuer's Class A 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.

Footnote F11

Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 4,518 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 24,173 shares of the Issuer's Class A 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.

Footnote F12

Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 53,426 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 285,853 shares of the Issuer's Class A 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.

Footnote F13

Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 8,049 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 43,065 shares of the Issuer's Class A 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.

Footnote F14

Prior to the Business Combination, the performance stock units (PSUs) were granted under Angel Legacy, Inc's. 2023 Performance Equity Plan and represented the right to purchase 3,458 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 18,501 shares of the Issuer's Class A 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.

SEC remarks

Exhibit 24 - Power of Attorney

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