Angel Studios, Inc.

Filing Date

Oct 9, 2025

Transaction Date

Sep 10, 2025

Accession Number

0001104659-25-098277

Form Type

3

Footnotes

1. (F1)Prior to the Issuer's business combination (the "Business Combination"), the stock options represented the right to purchase 50,000 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 267,523 shares of the Issuer's Class B Common Stock. Twenty-five percent (25%) of these options vested on April 14, 2026, with the remaining options vesting in equal monthly installments through April 14, 2029.
2. (F2)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 15,000 shares of Angel Legacy Inc.'s Class C Common Stock. Following the Business Combination, the PSUs converted into the right to purchase 80,256 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.