SNFCA.NASDAQSecurity National Financial CORP

Form 4: Director John L. Cook Increases Direct Holdings in Security National Financial Corp Through RSU Vesting

Sentiment:

Insider Transaction Report

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Security National Financial Corp Director John L. Cook acquired 628 shares of Class A Common Stock on July 1, 2025, through the vesting of restricted stock units, increasing his direct beneficial ownership to 17,117 shares.

Better than expectedThe director increased his direct beneficial ownership of Class A Common Stock by 628 shares.The acquisition was through the vesting of Restricted Stock Units, which is a positive sign of long-term commitment and alignment of interests between management and shareholders.

Summary

  • John L. Cook, a Director of Security National Financial Corp (SNFCA), acquired 628 shares of Class A Common Stock on July 1, 2025, at a price of $13.08 per share.
  • This acquisition was a result of the vesting of Restricted Stock Units (RSUs).
  • Following this transaction, Cook's direct beneficial ownership of Class A Common Stock increased to 17,117 shares.
  • On the same date, 628 Restricted Stock Units were reported under transaction code 'A' (acquired) in the derivative securities table, though this transaction resulted in a decrease of the total derivative beneficial ownership from 59,045 to 58,417, indicating a conversion to common stock.
  • Cook also holds various Director Stock Options, with exercise prices ranging from $2.99 to $7.59, and expiration dates extending to December 1, 2033.
  • A total of 57,163 Director Stock Options are beneficially owned.
  • Additionally, 58,417 Restricted Stock Units remain outstanding, which were granted on December 6, 2024, at $13.08 per unit and are set to fully vest by December 31, 2025.

Sentiment

Score: 7

Explanation: The filing indicates an increase in direct beneficial ownership by a director through RSU vesting, which is generally a positive signal of insider confidence. The director also holds a significant number of in-the-money options, further aligning interests with shareholders.

Positives

  • Director John L. Cook increased his direct beneficial ownership of Class A Common Stock, indicating continued confidence in the company.
  • The acquisition of shares through RSU vesting at $13.08 per share adds to the director's equity stake.
  • The director holds a substantial number of stock options with exercise prices significantly below the RSU vesting price of $13.08, suggesting potential for future gains if the stock price remains above these levels.

Future Outlook

The remaining 58,417 Restricted Stock Units are scheduled to vest quarterly and will be fully vested by December 31, 2025, indicating future potential increases in direct beneficial ownership for the reporting person.

Industry Context

This Form 4 filing reflects an individual insider transaction, which is a routine disclosure for publicly traded companies. It does not provide broader industry trends or competitive analysis, but rather details a specific equity movement by a company director.

Stakeholder Impact

  • Shareholders: The increase in direct beneficial ownership by a director can be viewed as a positive signal of management's confidence in the company's future performance, potentially boosting investor sentiment.
  • Employees: The vesting of Restricted Stock Units is a common form of equity compensation, which aligns the interests of key personnel with the company's long-term success.

Next Steps

  • Remaining Restricted Stock Units will continue to vest quarterly until fully vested on December 31, 2025.
  • Director Stock Options held by John L. Cook will remain exercisable until their respective expiration dates, ranging from December 2, 2026, to December 1, 2033.

Key Dates

DateDescription
2016-12-02Grant date for Director Stock Option (7,573 shares at $4.55 exercise price).
2016-12-07Grant date for Director Stock Option (1,514 shares at $4.76 exercise price).
2017-02-035% stock dividend paid (relevant to option 1).
2017-03-02Date exercisable for Director Stock Option granted on 2016-12-02.
2017-03-07Date exercisable for Director Stock Option granted on 2016-12-07.
2017-12-01Grant date for Director Stock Option (1,442 shares at $3.44 exercise price).
2018-02-025% stock dividend paid (relevant to options 1, 2, 3).
2018-03-01Date exercisable for Director Stock Option granted on 2017-12-01.
2018-11-30Grant date for Director Stock Option (8,244 shares at $3.96 exercise price).
2019-02-015% stock dividend paid (relevant to options 1, 2, 3, 4).
2019-02-28Date exercisable for Director Stock Option granted on 2018-11-30.
2019-12-06Grant date for Director Stock Option (7,850 shares at $4.12 exercise price).
2020-02-075% stock dividend paid (relevant to options 1, 2, 3, 4, 5, 6).
2020-03-06Date exercisable for Director Stock Option granted on 2019-12-06.
2020-03-27Grant date for Director Stock Option (7,476 shares at $2.99 exercise price).
2020-06-27Date exercisable for Director Stock Option granted on 2020-03-27.
2020-07-172.5% stock dividend paid (relevant to options 1, 2, 3, 4, 5, 6).
2021-07-165% stock dividend paid (relevant to options 1, 2, 3, 4, 5, 6).
2021-12-03Grant date for Director Stock Option (6,946 shares at $7.39 exercise price).
2022-03-03Date exercisable for Director Stock Option granted on 2021-12-03.
2022-07-085% stock dividend paid (relevant to options 1, 2, 3, 4, 5, 6, 7).
2022-12-02Grant date for Director Stock Option (7,718 shares at $5.85 exercise price).
2023-03-02Date exercisable for Director Stock Option granted on 2022-12-02.
2023-07-145% stock dividend paid (relevant to options 1, 2, 3, 4, 5, 6, 7, 8).
2023-12-01Grant date for Director Stock Option (8,400 shares at $7.59 exercise price).
2024-03-01Date exercisable for Director Stock Option granted on 2023-12-01.
2024-07-125% stock dividend paid (relevant to options 1, 2, 3, 4, 5, 6, 7, 8, 9).
2024-12-06Grant date for Restricted Stock Units (2,509 shares at $13.08 per share).
2025-04-01Vesting start date for Restricted Stock Units granted on 2024-12-06.
2025-07-01Transaction date for acquisition of 628 Class A Common Stock shares and reported acquisition of 628 Restricted Stock Units (indicating vesting).
2025-07-09Signature date of the reporting person.
2025-12-31Full vesting date for Restricted Stock Units granted on 2024-12-06.
2026-12-02Expiration date for Director Stock Option granted on 2016-12-02.
2026-12-07Expiration date for Director Stock Option granted on 2016-12-07.
2027-12-01Expiration date for Director Stock Option granted on 2017-12-01.
2028-11-30Expiration date for Director Stock Option granted on 2018-11-30.
2030-03-27Expiration date for Director Stock Options granted on 2019-12-06 and 2020-03-27.
2031-12-03Expiration date for Director Stock Option granted on 2021-12-03.
2032-12-02Expiration date for Director Stock Option granted on 2022-12-02.
2033-12-01Expiration date for Director Stock Option granted on 2023-12-01.

Recommendation

hold

Keywords

Security National Financial Corp, SNFCA, Insider Trading, Form 4, Director Stock Option, Restricted Stock Unit, Equity Incentive Plan, Beneficial Ownership, Stock Dividend, Anti-dilution

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