FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
Taylor Seth
(Last) (First) (Middle)
295 W. CENTER ST.
(Street)
PROVO UT 84801
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
04/29/2024 		3. Issuer Name and Ticker or Trading Symbol
Angel Studios, Inc. [ NONE ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Experience Officer
 5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class B Common Stock, par value $0.001 per share 50
D
 
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option   (1) 08/03/2031 Class F Common Stock 30,000 8.63 D  
Stock Option   (2) 07/22/2032 Class F Common Stock 10,000 11.95 D  
Stock Option   (3) 08/02/2032 Class F Common Stock 3,485 11.95 D  
Stock Option   (4) 04/20/2033 Class F Common Stock 5,000 14.18 D  
Stock Option   (5) 10/20/2033 Class F Common Stock 16,730 14.18 D  
Explanation of Responses:
1. Represent stock options exercisable for shares of Class F Common Stock. Twenty-five percent (25%) of these options vested on August 3, 2022, with the remaining options vesting in equal monthly installments through August 3, 2025.
2. Represent stock options exercisable for shares of Class F Common Stock. Twenty-five percent (25%) of these options vested on July 22, 2023, with the remaining options vesting in equal monthly installments through July 22, 2026.
3. Represent fully-vested stock options exercisable for shares of Class F Common Stock.
4. Represent stock options exercisable for shares of Class F Common Stock. One twenty-fourth (1/24th) of these options vested or will vest in equal monthly installments from May 20, 2023, through April 20, 2025.
5. Represent stock options exercisable for shares of Class F Common Stock. These options will vest in 10 tranches, equally divided, with each tranche becoming vested based on a series of increasing stock price milestones.
Remarks:
Exhibit List: Exhibit 24 - Power of Attorney
/s/ Patrick J. Reilly, Attorney-in-Fact 04/29/2024
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

EXHIBIT 24