ANGX · Angel Studios, Inc. · Insider Trading

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.2750 to $5.4000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.9000 to $5.4000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.7550 to $5.0350, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.1750 to $4.3000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.2050 to $4.3755, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.2500 to $4.3260, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.2000 to $4.3000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.2650 to $4.3400, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.7300 to $4.2000, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.8400 to $4.3390, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.6500 to $3.7650, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

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.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

This transaction represents a bona fide gift of 3,277,536 shares of Class B Common Stock to irrevocable trusts established for the benefit of the reporting person's family members for estate planning purposes. The reporting person does not serve as trustee of the trusts and does not receive any financial benefit from the shares held therein. The reporting person disclaims beneficial ownership of the reported securities, except to the extent of any pecuniary interest he may be deemed to have under Rule 16a-1(a)(2) as a result of certain of the trustees being immediate family members who share his household.

This transaction represents a bona fide gift of 3,277,536 shares of Class B Common Stock to irrevocable trusts established for the benefit of the reporting person's family members for estate planning purposes. The reporting person does not serve as trustee of the trusts and does not receive any financial benefit from the shares held therein. The reporting person disclaims beneficial ownership of the reported securities, except to the extent of any pecuniary interest he may be deemed to have under Rule 16a-1(a)(2) as a result of certain of the trustees being immediate family members who share his household.

This transaction represents a bona fide gift of 3,056,369 shares of Class B Common Stock to irrevocable trusts established for the benefit of the reporting person's family members for estate planning purposes. The reporting person does not serve as trustee of the trusts and does not receive any financial benefit from the shares held therein. The reporting person disclaims beneficial ownership of the reported securities, except to the extent of any pecuniary interest he may be deemed to have under Rule 16a-1(a)(2) as a result of certain of the trustees being immediate family members who share his household.

This transaction represents a bona fide gift of 5,073,000 shares of Class B Common Stock to an irrevocable Delaware noncharitable purpose trust. The purpose of the transfer is to preserve the voting power associated with the Class B Common Stock within the trust structure on a permanent basis. The trust has no named beneficiaries and the shares are not intended for distribution to any individual, including the reporting person's family members. The reporting person received no consideration for this transfer and disclaims all beneficial and pecuniary interest in the shares.

This transaction represents a bona fide gift of 5,073,000 shares of Class B Common Stock to an irrevocable Delaware noncharitable purpose trust. The purpose of the transfer is to preserve the voting power associated with the Class B Common Stock within the trust structure on a permanent basis. The trust has no named beneficiaries and the shares are not intended for distribution to any individual, including the reporting person's family members. The reporting person received no consideration for this transfer and disclaims all beneficial and pecuniary interest in the shares.

This transaction represents a bona fide gift of 3,056,369 shares of Class B Common Stock to irrevocable trusts established for the benefit of the reporting person's family members for estate planning purposes. The reporting person does not serve as trustee of the trusts and does not receive any financial benefit from the shares held therein. The reporting person disclaims beneficial ownership of the reported securities, except to the extent of any pecuniary interest he may be deemed to have under Rule 16a-1(a)(2) as a result of certain of the trustees being immediate family members who share his household.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

Restricted Stock Units ("RSUs") are awarded under the Issuer's 2025 Long-Term Incentive Plan. The RSUs were effective on October 23, 2025, with such RSUs vesting in substantially equal quarterly increments, over a one-year period beginning October 23, 2025. Upon each vesting date, each vested RSU shall automatically convert into one share of common stock.

RSU's convert into Class A Common Stock on a one-for-one basis.

RSU's convert into Class A Common Stock on a one-for-one basis.

Each share of Class B Common Stock was convertible at any time into one share of Class A Common Stock. The Class B Common Stock had no expiration date.

Each share of Class B Common Stock was convertible at any time into one share of Class A Common Stock. The Class B Common Stock had no expiration date.