Ahlstrom Paul 4

What Happened

• Paul Ahlstrom, a director of Angel Studios, had restricted stock units (RSUs) convert on April 23, 2026. The Form 4 shows two derivative (code M) entries: 2,648 shares acquired and 2,648 shares disposed. No per-share price is reported (N/A). In total 5,296 RSUs were involved (2,648 issued and an equal 2,648 disposed). This was a vesting/conversion event rather than an open-market purchase or sale.

Key Details

• Transaction date: April 23, 2026; Form 4 filed April 24, 2026 (appears timely).
• Reported transactions: Exercise/conversion (derivative code M) — 2,648 shares acquired; 2,648 shares disposed.
• Price: N/A (conversion of RSUs; no cash purchase price).
• Shares owned after transaction: Not disclosed on this filing.
• Footnotes:
  • F1: RSUs convert into Class A common stock on a one-for-one basis.
  • F2: RSUs were awarded under the Issuer’s 2025 Long-Term Incentive Plan, effective Oct 23, 2025, vesting in substantially equal quarterly increments over one year; upon each vesting date, each vested RSU automatically converts into one share.
• No indication of a 10b5-1 plan or a late filing flag on this Form 4.

Context

• Derivative code M denotes exercise or conversion — here, vested RSUs converted into common stock. The matching acquire/dispose amounts are consistent with routine vesting and net settlement or tax-withholding practices (the filing itself does not specify the reason for the disposition). This is a routine, non-purchase insider event and does not necessarily indicate a change in sentiment.