Angel founders transfer 10M+ super-voting shares to mission trust

Angel (NYSE: ANGX) co-founders Neal Harmon and Jeffrey Harmon have irrevocably transferred more than 10 million shares of super-voting class B stock to the Angel Mission Trust, according to a company press release.

The transfer is structured to preserve the company's governance independence across future generations. The trust is irrevocable and includes a professional trustee, an independent enforcer, and a trust stewardship committee. The company states that all decisions under the structure will prioritize long-term mission integrity over short-term gains.

"Our heroes are the Disney brothers," said Neal Harmon, Angel co-founder and CEO. "And while Disney still has an amazing heritage, we've all watched the company's mission drift after Walt and Roy were gone. Our hope is that this Trust will help Angel's mission last long after we are gone."

The company cited Patagonia, Hershey, and Rolex as examples that inspired the trust structure.

Angel describes itself as an audience-driven studio in which its 2.6 million paying Guild members vote on which films and television series get distributed in theaters and on the Angel platform.

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