Director Robert C. Gay filed a Form 4 with the SEC on October 27, 2026, reporting the vesting and conversion of 2,649 restricted stock units into Class A Common Stock of Angel Studios, Inc. on October 26, 2026.

Key Highlights

  • Reporting person: Robert C. Gay, listed as a Director of Angel Studios, Inc. (ANGX)
  • Transaction: 2,649 restricted stock units converted (transaction code M) into Class A Common Stock on October 26, 2026
  • Conversion basis: RSUs convert into Class A Common Stock on a one-for-one basis, according to the filing
  • Post-transaction ownership: Gay directly holds 10,593 shares of Class A Common Stock following the transaction
  • RSU plan: The RSUs were awarded under the issuer's 2025 Long-Term Incentive Plan, effective October 23, 2025, vesting in substantially equal quarterly increments over one year
  • Remaining derivative securities: Zero RSUs remain in Table II following the reported transaction

Gay RSU Conversion Details for Angel Studios Director

According to the Form 4 filed on October 27, 2026, Robert C. Gay, a Director of Angel Studios, Inc. (NASDAQ:ANGX), reported a transaction dated October 26, 2026, involving the vesting of 2,649 Class A Common Stock Restricted Stock Units. The transaction code recorded is "M," reflecting the conversion of derivative securities into underlying shares. The filing states that RSUs convert into Class A Common Stock on a one-for-one basis.

The filing discloses that the RSUs were awarded under the issuer's 2025 Long-Term Incentive Plan. According to the explanation of responses, 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." The filing further states that "upon each vesting date, each vested RSU shall automatically convert into one share of common stock." No price is listed for the derivative security in Table II.

Following the reported transaction, Gay directly and beneficially owns 10,593 shares of Class A Common Stock, par value $0.0001 per share, as reported in Table I. The number of RSUs beneficially owned following the transaction is listed as zero. The Form 4 was signed by Patrick J. Reilly as Attorney-in-Fact on October 27, 2026.

What Was Disclosed

Director Robert C. Gay reported the vesting and conversion of 2,649 RSUs into Angel Studios Class A Common Stock on October 26, 2026, under the company's 2025 Long-Term Incentive Plan, leaving him with 10,593 directly held shares and zero remaining RSUs.