Angel Studios Inc. filed SEC Form 8-K: Leadership Update
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On December 12, 2025, the Board of Directors of Angel Studios, Inc. (the “Company”) approved certain 2026 compensation arrangements for certain of the Company’s executive officers under the Company’s 2025 Long-Term Incentive Plan, including base salary adjustments and grants of restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”). The base salaries are effective as of January 1, 2026.
The compensation actions approved for the Company’s named executive officers are summarized below:
Executive Officer | 2026 Base Salary | RSUs Granted | PSUs Granted |
Neal Harmon, Chief Executive Officer | $550,000 | 245,916 | 129,176 |
Each RSU award vests one-third on December 10, 2026, and the remaining two-thirds vesting in eight (8) equal quarterly installments on the following dates: February 18, 2027, May 18, 2027, August 18, 2027, November 18, 2027, February 18, 2028, May 18, 2028, August 18, 2028, and November 18, 2028, and subject to the provisions of the 2025 LTIP and the Restricted Stock Grant Award Agreements governing such grants.
Vesting of the PSUs is subject to minimum average share prices being achieved during the ten-year period following the date of grant and the participant remaining employed on the first day of the calendar quarter following the quarter in which such minimum average share price is achieved. Specifically, 10% of the PSUs shall become vested on the first day of the calendar quarter following a quarter in which the price of a share achieved specified stock-price performance milestones, as set forth in the applicable award agreement.
Each RSU or PSU represents the right to receive one share of the Company’s Class A common stock. All awards were granted under, and are subject to, the terms of the Company’s 2025 Long-Term Incentive Plan and the applicable award agreements.