Form 4: Security National Financial Corp Director John L. Cook Reports Acquisition of Class A Common Stock
SEC Form 4 Filing
Director John L. Cook reports the acquisition of 8,702 shares of Class A Common Stock at $6.96 per share on April 12, 2024, increasing his direct holdings to 15,107 shares.
Summary
- On April 12, 2024, John L. Cook, a director of Security National Financial Corp, acquired 8,702 shares of Class A Common Stock at a price of $6.96 per share.
- This transaction increased Cook's direct ownership to 15,107 shares of Class A Common Stock.
- Cook also holds multiple director stock options with varying exercise prices and expiration dates, granted under the Amended and Restated 2014 Director Stock Option Plan.
- These options cover a total of 54,440 shares of Class A Common Stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a standard disclosure of stock acquisition by a director, which can be seen as a slightly positive sign of confidence, but it's not overwhelmingly positive.
Positives
- Director's acquisition of shares may signal confidence in the company's future prospects.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment of interests between management and shareholders.
Comparison to Industry Standards
- Comparing the director's stock option grants to similar companies in the financial services sector, the exercise prices and vesting schedules appear to be within a typical range for director compensation.
- Companies like Prudential Financial and MetLife also utilize stock options as part of their director compensation packages, with similar vesting periods and exercise price determination methods.
Stakeholder Impact
- The transaction could have a minor positive impact on shareholder sentiment due to the director's increased investment in the company.
Key Dates
| Date | Description |
|---|---|
| 12/05/2014 | Date of grant for director stock option for 7,952 shares at an exercise price of $3.1, expiring 12/05/2024. |
| 12/07/2014 | Date of grant for director stock option for 1,593 shares at an exercise price of $3.1, expiring 12/07/2024. |
| 12/04/2015 | Date of grant for director stock option for 7,572 shares at an exercise price of $4.35, expiring 12/04/2025. |
| 12/07/2015 | Date of grant for director stock option for 1,516 shares at an exercise price of $4.35, expiring 12/07/2025. |
| 12/02/2016 | Date of grant for director stock option for 7,212 shares at an exercise price of $4.79, expiring 12/02/2026. |
| 12/07/2016 | Date of grant for director stock option for 1,442 shares at an exercise price of $5.01, expiring 12/07/2026. |
| 12/01/2017 | Date of grant for director stock option for 1,373 shares at an exercise price of $3.62, expiring 12/01/2027. |
| 11/30/2018 | Date of grant for director stock option for 7,852 shares at an exercise price of $4.17, expiring 11/30/2028. |
| 12/06/2019 | Date of grant for director stock option for 7,476 shares at an exercise price of $4.34, expiring 03/27/2030. |
| 03/27/2020 | Date of grant for director stock option for 7,120 shares at an exercise price of $3.15, expiring 03/27/2030. |
| 12/03/2021 | Date of grant for director stock option for 6,615 shares at an exercise price of $7.78, expiring 12/03/2031. |
| 12/02/2022 | Date of grant for director stock option for 7,350 shares at an exercise price of $6.16, expiring 12/02/2032. |
| 12/01/2023 | Date of grant for director stock option for 8,000 shares at an exercise price of $7.99, expiring 12/01/2033. |
| 04/12/2024 | Date of transaction: Acquisition of 8,702 shares of Class A Common Stock at $6.96 per share. |
| 04/19/2024 | Date of signature for the Form 4 filing. |
| 12/01/2024 | The options granted on December 1, 2023 vest quarterly, with 100% vesting on this date. |
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