SNFCA.NASDAQSecurity National Financial CORP
Form 4: Director Hunter Exercises Options, Adjusts Holdings
Sentiment:
Insider Transaction Report
Security National Financial Corp. Director Robert Hunter exercised stock options and adjusted his Class A Common Stock holdings in a pre-planned transaction.
Summary
- Robert Gail Hunter, a Director of Security National Financial Corp. (SNFCA), reported transactions involving Class A Common Stock.
- On November 28, 2025, Hunter acquired 10,021 shares of Class A Common Stock at an exercise price of $3.92 per share through the exercise of a derivative security.
- On the same date, Hunter disposed of 4,547 shares of Class A Common Stock at a price of $8.64 per share.
- Following these transactions, Hunter directly beneficially owns 61,631 shares of Class A Common Stock.
- The transactions were made pursuant to a Rule 10b5-1(c) pre-planned contract.
- Hunter was also granted a new Director Stock Option on December 5, 2025, for 10,400 shares of Class A Common Stock under the 2022 Equity Incentive Plan, with an exercise price of $8.53 per share, vesting quarterly starting March 5, 2026.
- The filing details multiple stock option grants from 2015 to 2025, all of which have been adjusted for various stock dividends (5% and 2.5%) according to anti-dilution provisions.
Sentiment
Score: 6
Explanation: The sentiment is moderately positive. While there was a disposition of shares, it was part of a pre-planned exercise-and-sell strategy, likely for personal financial planning. The director also received a new, substantial option grant, indicating continued long-term alignment and compensation. The exercise of options at a low price relative to the sale price is a positive for the insider.
Positives
- Director Robert Hunter exercised stock options at a significantly lower price ($3.92) than the market price at which some shares were sold ($8.64), indicating a profitable transaction for the insider.
- The director received a new grant of 10,400 stock options on December 5, 2025, demonstrating continued equity compensation and alignment with shareholder interests.
- The transactions were conducted under a Rule 10b5-1 plan, indicating pre-planned and orderly management of insider equity.
Negatives
- The director disposed of 4,547 shares of Class A Common Stock, reducing his direct beneficial ownership of non-derivative securities from 66,178 to 61,631 shares after the reported transactions.
Future Outlook
The filing indicates future vesting of a newly granted stock option, with quarterly installments beginning March 5, 2026, and an expiration date of December 5, 2035. This suggests a long-term incentive structure for the director.
Industry Context
This Form 4 filing represents a routine insider transaction for a director, involving the exercise of stock options and a partial sale of shares, often for liquidity or tax planning purposes. Such transactions are common across industries for executives and directors managing their equity compensation, especially when executed under a Rule 10b5-1 plan to avoid accusations of trading on material non-public information.
Comparison to Industry Standards
- The use of a Rule 10b5-1 plan for these transactions aligns with best practices for corporate governance, providing transparency and mitigating concerns about insider trading, a standard adopted by many publicly traded companies.
- The structure of director stock option plans, including anti-dilution provisions for stock dividends, is a common feature in equity compensation programs across various industries, similar to those seen in companies like Berkshire Hathaway (BRK.A, BRK.B) for its directors or other financial services firms.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Equity Incentive Plan Usage | The Director Stock Options were granted under the 2014 Director Stock Option Plan and the 2022 Equity Incentive Plan, indicating ongoing use of these plans for executive and director compensation. | N/A | Reinforces the company's established equity compensation framework for directors, aligning their interests with long-term shareholder value through stock ownership and performance incentives. |
Stakeholder Impact
- Shareholders: The exercise and partial sale by a director could be viewed as a routine liquidity event. The new option grant aligns director interests with long-term company performance. The anti-dilution provisions protect option holders from stock dividend impacts.
- Employees: No direct impact mentioned, but the equity compensation structure for directors may reflect broader compensation philosophies within the company.
Next Steps
- The newly granted Director Stock Option will begin vesting in quarterly installments starting March 5, 2026.
Key Dates
| Date | Description |
|---|---|
| 12/04/2015 | Grant date for a Director Stock Option for 5,000 shares (adjusted to 8,349) at an exercise price of $6.72 (adjusted to $3.92). |
| 12/07/2015 | Grant date for a Director Stock Option for 1,000 shares (adjusted to 1,672) at an exercise price of $6.72 (adjusted to $3.92). |
| 02/05/2016 | 5% stock dividend paid, affecting option adjustments. |
| 03/04/2016 | Date exercisable for the option granted on 12/04/2015. |
| 03/07/2016 | Date exercisable for the option granted on 12/07/2015. |
| 12/02/2016 | Grant date for a Director Stock Option for 5,000 shares (adjusted to 7,952) at an exercise price of $7.03 (adjusted to $4.32). |
| 12/07/2016 | Grant date for a Director Stock Option for 1,000 shares (adjusted to 1,590) at an exercise price of $7.36 (adjusted to $4.52). |
| 02/03/2017 | 5% stock dividend paid, affecting option adjustments. |
| 03/02/2017 | Date exercisable for the option granted on 12/02/2016. |
| 03/07/2017 | Date exercisable for the option granted on 12/07/2016. |
| 12/01/2017 | Grant date for a Director Stock Option for 1,000 shares (adjusted to 1,514) at an exercise price of $5.05 (adjusted to $3.27). |
| 02/02/2018 | 5% stock dividend paid, affecting option adjustments. |
| 03/01/2018 | Date exercisable for the option granted on 12/01/2017. |
| 11/30/2018 | Grant date for a Director Stock Option for 6,000 shares (adjusted to 8,657) at an exercise price of $5.52 (adjusted to $3.76). |
| 02/01/2019 | 5% stock dividend paid, affecting option adjustments. |
| 02/28/2019 | Date exercisable for the option granted on 11/30/2018. |
| 12/06/2019 | Grant date for a Director Stock Option for 6,000 shares (adjusted to 8,242) at an exercise price of $5.46 (adjusted to $3.91). |
| 02/07/2020 | 5% stock dividend paid, affecting option adjustments. |
| 03/06/2020 | Date exercisable for the option granted on 12/06/2019. |
| 03/27/2020 | Grant date for a Director Stock Option for 6,000 shares (adjusted to 7,850) at an exercise price of $3.76 (adjusted to $2.84). |
| 06/27/2020 | Date exercisable for the option granted on 03/27/2020. |
| 07/17/2020 | 2.5% stock dividend paid, affecting option adjustments. |
| 07/16/2021 | 5% stock dividend paid, affecting option adjustments. |
| 12/03/2021 | Grant date for a Director Stock Option for 6,000 shares (adjusted to 7,293) at an exercise price of $8.62 (adjusted to $7.02). |
| 03/03/2022 | Date exercisable for the option granted on 12/03/2021. |
| 07/08/2022 | 5% stock dividend paid, affecting option adjustments. |
| 12/02/2022 | Grant date for a Director Stock Option for 7,000 shares (adjusted to 8,104) at an exercise price of $6.48 (adjusted to $5.56). |
| 03/02/2023 | Date exercisable for the option granted on 12/02/2022. |
| 07/14/2023 | 5% stock dividend paid, affecting option adjustments. |
| 12/01/2023 | Grant date for a Director Stock Option for 8,000 shares (adjusted to 8,820) at an exercise price of $7.99 (adjusted to $7.21). |
| 03/01/2023 | Date exercisable for the option granted on 12/01/2023. |
| 07/12/2024 | 5% stock dividend paid, affecting option adjustments. |
| 12/06/2024 | Grant date for a Director Stock Option for 10,400 shares (adjusted to 10,920) at an exercise price of $13.08 (adjusted to $12.43). |
| 03/06/2025 | Date exercisable for the option granted on 12/06/2024. |
| 07/18/2025 | 5% stock dividend paid, affecting option adjustments. |
| 11/28/2025 | Transaction date for the acquisition of 10,021 shares and disposition of 4,547 shares of Class A Common Stock. |
| 12/04/2025 | Expiration date for the option granted on 12/04/2015. |
| 12/05/2025 | Grant date for a Director Stock Option for 10,400 shares at an exercise price of $8.53. |
| 12/07/2025 | Expiration date for the option granted on 12/07/2015. |
| 12/19/2025 | Signature date of the reporting person. |
| 03/05/2026 | Vesting begins for the option granted on 12/05/2025. |
| 12/02/2026 | Expiration date for the option granted on 12/02/2016. |
| 12/07/2026 | Expiration date for the option granted on 12/07/2016. |
| 12/01/2027 | Expiration date for the option granted on 12/01/2017. |
| 11/30/2028 | Expiration date for the option granted on 11/30/2018. |
| 12/26/2029 | Expiration date for the option granted on 12/06/2019. |
| 03/27/2030 | Expiration date for the option granted on 03/27/2020. |
| 12/03/2031 | Expiration date for the option granted on 12/03/2021. |
| 12/02/2032 | Expiration date for the option granted on 12/02/2022. |
| 12/01/2033 | Expiration date for the option granted on 12/01/2023. |
| 12/06/2034 | Expiration date for the option granted on 12/06/2024. |
| 12/05/2035 | Expiration date for the option granted on 12/05/2025. |
Keywords
Security National Financial Corp, SNFCA, Form 4, Insider Trading, Stock Options, Director Transactions, Equity Compensation, Rule 10b5-1, Class A Common Stock
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