The Independent Spirit Awards are underway. Here’s everything you need to know

Oscar nominees like Mikey Madison, Demi Moore and Sebastian Stan are making a stop by the beach Saturday for the Film Independent Spirit Awards. The annual awards ceremony underway is the shaggier, more irreverent sister to the Academy Awards, celebrating the best in independent film and television.

"Saturday Night Live" alum Aidy Bryant returned to host the proceedings for the second year. Last year she referred to the show as the "bisexual Oscars."

Oscar front-runner "Anora" is one of the most nominated films of the night, as is Jane Schoenbrun's psychological horror "I Saw the TV Glow." Both got six nominations, including best feature and best director.

Also nominated for best feature film were RaMell Ross' adaptation of Colson Whitehead's "Nickel Boys," Greg Kwedar's incarceration drama "Sing Sing" and Coralie Fargeat's body horror "The Substance."

Madison, who surprisingly triumphed over Moore last weekend at the BAFTAs, is among the lead actor nominees. Her competition includes Moore, for “The Substance,” Stan, for playing a young Donald Trump in “The Apprentice” and Colman Domingo for his turn as an incarcerated man in “Sing Sing.”

Acting categories for the Spirit Awards are gender neutral and include 10 spots each. In the supporting category, Oscar front-runner Kieran Culkin (“A Real Pain”) is up against “Anora’s” Yura Borisov.

The winners of the show sometimes overlap significantly with the Oscars, as in the “Everything Everywhere All At Once” year, and sometimes hardly at all. Last year’s awards season champion “Oppenheimer” was too expensive to qualify, and the top Spirit Awards winners were “Past Lives” and “American Fiction.”

The awards limit eligibility to productions with budgets of $30 million or less, meaning more expensive productions like "Wicked" and "Dune: Part Two" were not in the running.

The Spirit Awards also recognize new fiction and nonfiction television series, where nominees include the Netflix phenomenon “Baby Reindeer,” “Shōgun” and “Ren Fair.”