Sarowitz Steven I 4

What Happened
Steven Sarowitz, a director of Angel Studios, made an open-market purchase of 321,544 shares on May 5, 2026, at $3.06 per share, for a total reported consideration of approximately $982,574. This was a straight purchase (transaction code P), which is generally viewed as a more informative / potentially bullish signal than routine sales.

Key Details

• Transaction date: 2026-05-05; Price per share: $3.06; Shares acquired: 321,544; Total value: ~$982,574.
• Filing date (Form 4): 2026-05-07 — filed within the typical two-business-day reporting window (timely).
• Shares owned after the transaction: not specified in the information provided.
• No footnotes, 10b5-1 plan, option exercise, gift, or tax-withholding items were indicated in the provided transaction details.

Context

• This was an open-market purchase (code P), not an option exercise or award. Purchases by directors can indicate confidence but are only one data point; they do not guarantee future performance.
• Retail investors should combine this insider purchase info with company fundamentals and other news before making investment decisions.