Nguyen Trang T 4

What Happened

• Director Nguyen Trang T reported the conversion/vesting of 2,648 restricted stock units (RSUs) into 2,648 shares of Angel Studios Class A common stock on January 23, 2026. The Form 4 shows both an acquisition by conversion (code M) and a corresponding disposition of the derivative for the same 2,648 shares. No purchase or sale price or total dollar value is reported on the filing.

Key Details

• Transaction date: 2026-01-23 (filed 2026-01-26).
• Shares acquired by conversion: 2,648 RSUs → 2,648 shares (price: N/A).
• Shares disposed (derivative): 2,648 (price/value: N/A); filing does not state the reason for the disposition.
• Shares owned after the transaction: not specified in the filing.
• Footnotes: F1 notes RSUs convert 1-for-1 into Class A common stock. F2 explains these RSUs were granted under the 2025 Long-Term Incentive Plan (effective Oct 23, 2025) and vest in substantially equal quarterly increments over one year, converting to shares upon each vesting date.
• Timeliness: Filed on Jan 26, 2026, which appears to be within the SEC Form 4 reporting window (timely).

Context

• These entries reflect the routine vesting/conversion of RSU compensation rather than an open-market buy or sale. The filing shows a simultaneous disposition of the derivative but does not specify whether that disposition was a sale, transfer, or tax withholding; the Form 4 provides no dollar amounts to indicate proceeds. For retail investors, RSU vesting is typically a compensation event and not a clear signal of insider buying or selling intent.