Form 4: Director Fuller Receives Security National RSU Grants

Security National Financial Corp. Director Gilbert A. Fuller was granted restricted stock units on two separate dates, vesting through 2026.

Summary

• Gilbert A. Fuller, a Director of Security National Financial Corp. (SNFCA), received two grants of Restricted Stock Units (RSUs).
• On December 6, 2024, 627 Restricted Stock Units (RSUs) were acquired at a price of $13.08 per unit. The explanation states these units were granted "for 2,509 shares of Class A Common Stock" under the 2022 Equity Incentive Plan, vesting quarterly and fully by December 31, 2025.
• On December 5, 2025, 2,461 RSUs were acquired at a price of $8.53 per unit under the 2022 Equity Incentive Plan, vesting quarterly and fully by December 31, 2026.
• Following these transactions, Mr. Fuller beneficially owns 3,088 derivative securities (RSUs) directly.

Sentiment

Score: 7

Explanation: The grant of Restricted Stock Units to a director is a positive event for aligning interests and retention, indicating continued commitment. It's a routine compensation event, not a major strategic shift, hence a moderately positive score.

Positives

• The granting of Restricted Stock Units (RSUs) aligns the director's interests with those of shareholders, promoting long-term value creation.
• The equity incentive plan serves as a retention tool for key management and directors, incentivizing continued service.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the vesting schedules of the granted restricted stock units.

Industry Context

Routine RSU grants to directors are a common practice across various industries to incentivize long-term performance and align leadership interests with shareholder value. This filing reflects standard compensation practices for public company directors.

Corporate Governance

Stakeholder Impact

• Shareholders: The grants align the director's long-term interests with shareholder value creation through equity ownership.
• Director (Gilbert A. Fuller): Receives equity-based compensation, incentivizing continued service and performance.

Next Steps

• The granted Restricted Stock Units will vest quarterly, with full vesting for the first grant by December 31, 2025, and for the second grant by December 31, 2026.

Key Dates

Recommendation

This Form 4 filing reports routine Restricted Stock Unit grants to a director as part of their compensation package. While these grants align management interests with shareholders, they do not represent a material change in the company's operational or financial outlook that would warrant a change in investment recommendation. Investors should consider this a standard compensation event.

Keywords

Security National Financial Corp, SNFCA, Gilbert A. Fuller, Restricted Stock Units, RSU, Insider Transaction, Form 4, Equity Incentive Plan, Director Compensation