A Form 4 is filed within two business days of a company insider — an officer, a director, or a holder of more than ten percent of the stock — changing their position in the shares. All 9 filings in this group are Form 4s for Angel Studios, Inc.
The difficulty with reading these filings as a group is that a single form type covers transactions that mean entirely different things. An executive spending their own money to buy stock and an executive having shares withheld to pay tax on a vesting grant both appear as a Form 4. Every filing below is therefore tagged with the nature of the underlying transaction, taken from the transaction code reported on the form itself.
Across the 9 insider filings shown, the breakdown is 8 open-market purchase and 1 option exercise. 8 of them involved a discretionary open-market trade; the rest are compensation and administrative mechanics.
Form 4
Open-market purchase
Insider Buying
2026-09-14
ANGX insider Sarowitz Steven I (Director) bought 88,647 shares (~$472.6K)
Sarowitz Steven I, listed as Director at Angel Studios, Inc., reported an open-market purchase of 88,647 ANGX shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
88,647 |
$5.33 |
$472.6K |
Filing: Form 4 (Insider Transaction)
Insider: Sarowitz Steven I (Director)
Shares: 88,647
Est. Value: $472.6K
Form 4
Open-market purchase
Insider Buying
2026-09-11
ANGX insider Sarowitz Steven I (Director) bought 488,637 shares (~$2.54M)
Sarowitz Steven I, listed as Director at Angel Studios, Inc., reported an open-market purchase of 488,637 ANGX shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
132,639 |
$4.95 |
$657.1K |
P |
Open-market purchase
|
355,998 |
$5.28 |
$1.88M |
Filing: Form 4 (Insider Transaction)
Insider: Sarowitz Steven I (Director)
Shares: 488,637
Est. Value: $2.54M
Form 4
Open-market purchase
Insider Buying
2026-09-03
ANGX insider Sarowitz Steven I (Director) bought 10,979 shares (~$46.9K)
Sarowitz Steven I, listed as Director at Angel Studios, Inc., reported an open-market purchase of 10,979 ANGX shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
10,979 |
$4.27 |
$46.9K |
Filing: Form 4 (Insider Transaction)
Insider: Sarowitz Steven I (Director)
Shares: 10,979
Est. Value: $46.9K
Form 4
Open-market purchase
Insider Buying
2026-08-17
ANGX insider Harmon Neal (Director, Chief Executive Officer) bought 29,193 shares (~$125.0K)
Harmon Neal, listed as Director, Chief Executive Officer at Angel Studios, Inc., reported an open-market purchase of 29,193 ANGX shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
29,193 |
$4.28 |
$125.0K |
Filing: Form 4 (Insider Transaction)
Insider: Harmon Neal (Director, Chief Executive Officer)
Shares: 29,193
Est. Value: $125.0K
Form 4
Open-market purchase
Insider Buying
2026-08-17
ANGX insider Harmon Jeffrey (Chief Content Officer) bought 230,080 shares (~$948.7K)
Harmon Jeffrey, listed as Chief Content Officer at Angel Studios, Inc., reported an open-market purchase of 230,080 ANGX shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
178,700 |
$4.08 |
$729.6K |
P |
Open-market purchase
|
51,380 |
$4.26 |
$219.1K |
Filing: Form 4 (Insider Transaction)
Insider: Harmon Jeffrey (Chief Content Officer)
Shares: 230,080
Est. Value: $948.7K
Form 4
Open-market purchase
Insider Buying
2026-08-17
ANGX insider Sarowitz Steven I (Director) bought 57,922 shares (~$246.8K)
Sarowitz Steven I, listed as Director at Angel Studios, Inc., reported an open-market purchase of 57,922 ANGX shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
57,922 |
$4.26 |
$246.8K |
Filing: Form 4 (Insider Transaction)
Insider: Sarowitz Steven I (Director)
Shares: 57,922
Est. Value: $246.8K
Form 4
Open-market purchase
Insider Buying
2026-08-14
ANGX insider Sarowitz Steven I (Director) bought 353,815 shares (~$1.36M)
Sarowitz Steven I, listed as Director at Angel Studios, Inc., reported an open-market purchase of 353,815 ANGX shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
246,153 |
$3.71 |
$912.3K |
P |
Open-market purchase
|
107,662 |
$4.12 |
$443.3K |
Filing: Form 4 (Insider Transaction)
Insider: Sarowitz Steven I (Director)
Shares: 353,815
Est. Value: $1.36M
Form 4
Open-market purchase
Insider Buying
2026-08-14
ANGX insider Harmon Neal (Director, Chief Executive Officer) bought 29,035 shares (~$125.0K)
Harmon Neal, listed as Director, Chief Executive Officer at Angel Studios, Inc., reported an open-market purchase of 29,035 ANGX shares in a Form 4 filing. Insider buying is often treated as a bullish signal because company insiders are committing their own capital.
The insider bought shares on the open market with their own money. This is the only Form 4 category that requires a discretionary cash outlay at the prevailing price.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
P |
Open-market purchase
|
29,035 |
$4.31 |
$125.0K |
Filing: Form 4 (Insider Transaction)
Insider: Harmon Neal (Director, Chief Executive Officer)
Shares: 29,035
Est. Value: $125.0K
Form 4
Option exercise
Tax / Compensation Filing
2026-08-03
ANGX insider Form 4 filed for equity award, exercise, or tax withholding
Ellis Elizabeth (Chief Operating Officer) filed a Form 4 covering compensation-related activity such as stock awards, option exercises, conversions, or tax withholding. These filings are usually neutral.
The insider converted options into shares. The exercise price was fixed when the options were granted, so the timing usually tracks an expiry schedule.
Transactions reported on this filing
| Code |
Nature |
Shares |
Price |
Value |
M |
Option exercise
|
129,812 |
$0.16 |
$20.8K |
M |
Option exercise
derivative · Stock Option (Right to Buy)
|
129,812 |
— |
— |
Filing: Form 4 (Insider Transaction)
Insider: Ellis Elizabeth (Chief Operating Officer)
Shares: 129,812