Form 4: Security National Financial Corp Executive Adam Quist Reports Stock Option Grants
SEC Form 4 Filing
Adam Quist, a Vice President and General Counsel at Security National Financial Corp, reported the acquisition of stock options for Class C Common Stock.
Summary
- Adam Quist, a Vice President and General Counsel at Security National Financial Corp, filed a Form 4 detailing changes in his beneficial ownership.
- The filing primarily reports the acquisition of employee stock options for Class C Common Stock.
- These options were granted at various dates and exercise prices, with the most recent grants occurring on December 6, 2024.
- The options vest in quarterly installments, typically beginning three months after the grant date.
- The filing also includes adjustments to previous options due to stock dividends.
Sentiment
Score: 7
Explanation: The document is a routine filing of stock option grants, which is generally neutral to positive. It indicates that the company is using standard compensation practices to incentivize its executives.
Positives
- The acquisition of stock options aligns the executive's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the executive.
- The document shows a consistent pattern of stock option grants to the executive over several years.
Risks
- The exercise of these options could potentially dilute existing shareholders' equity.
- The value of the options is dependent on the future performance of the company's stock price.
Industry Context
This filing is a routine disclosure of stock option grants to a company executive, which is a common practice in publicly traded companies to incentivize management.
Comparison to Industry Standards
- Stock option grants are a standard form of compensation for executives in publicly traded companies.
- The vesting schedules and exercise prices are typical for such grants.
- The adjustments for stock dividends are also a common practice to maintain the value of the options.
Stakeholder Impact
- Shareholders may experience minor dilution if the options are exercised.
- Employees may view the grants as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 12/02/2016 | Grant date of an employee stock option for 15,144 shares of Class A Common Stock, later adjusted to Class C Common Stock. |
| 12/01/2017 | Grant date of an employee stock option for 21,634 shares of Class C Common Stock. |
| 11/30/2018 | Grant date of an employee stock option for 27,472 shares of Class C Common Stock. |
| 12/06/2019 | Grant date of an employee stock option for 45,787 shares of Class C Common Stock. |
| 03/27/2020 | Grant date of an employee stock option for 43,607 shares of Class C Common Stock. |
| 12/03/2021 | Grant date of an employee stock option for 69,458 shares of Class C Common Stock. |
| 12/02/2022 | Grant date of an employee stock option for 88,200 shares of Class C Common Stock. |
| 12/01/2023 | Grant date of an employee stock option for 84,000 shares of Class C Common Stock. |
| 12/06/2024 | Grant date of employee stock options for 6,950 shares and 73,050 shares of Class C Common Stock. |
| 01/14/2025 | Date of the Form 4 filing. |
Keywords
stock options, Form 4, beneficial ownership, Security National Financial Corp, Adam Quist, Class C Common Stock, executive compensation, insider trading
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