Form 4: Security National Financial Corp: Officer S. Andrew Quist Reports Stock Option Grant and Share Transactions
SEC Form 4
S. Andrew Quist, Vice President/General Counsel of Security National Financial Corp, reports acquisition of Class C Common Stock via option exercise and disposition of Class A Common Stock.
Summary
- On March 27, 2025, S. Andrew Quist, Vice President/General Counsel of Security National Financial Corp, filed a Form 4.
- The report details the acquisition of 49,836 shares of Class C Common Stock at $2.99 per share through the exercise of employee stock options.
- Additionally, the report indicates the disposition of 11,817 shares of Class A Common Stock at $12.61 per share.
- Following these transactions, Quist directly owns 156,093 shares of Class C Common Stock and 144,276 shares of Class A Common Stock.
- Quist also holds options to purchase a significant number of Class A and Class C Common Stock at various exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The document reflects standard insider transactions. The sentiment is neutral as it doesn't indicate any significant positive or negative events for the company.
Positives
- The exercise of stock options demonstrates the reporting person's confidence in the company's future performance.
- The reporting person continues to hold a significant number of shares and options, indicating a continued vested interest in the company.
Negatives
- The disposition of Class A Common Stock could be interpreted as a slight reduction in the reporting person's commitment to that specific class of shares.
Risks
- Fluctuations in the stock price could impact the value of the options held by the reporting person.
- Changes in company performance or market conditions could affect the value of the shares held.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in company stock. This filing is typical for officers who receive stock options as part of their compensation.
Comparison to Industry Standards
- Stock option grants are a common component of executive compensation packages in the financial services industry.
- The vesting schedules and exercise prices are typical for stock option plans.
- Companies like Prudential Financial, MetLife, and Lincoln National also utilize stock options as part of their executive compensation.
Stakeholder Impact
- The transactions may have a minor impact on shareholders' perception of the company, but are unlikely to significantly alter the stock price.
- Employees who also hold stock options may be interested in the details of these transactions.
Key Dates
| Date | Description |
|---|---|
| 12/04/2015 | Date of grant for stock options exercisable from 03/04/2016 and expiring on 12/04/2025. |
| 02/05/2016 | 5% stock dividend paid. |
| 12/02/2016 | Date of grant for stock options exercisable from 03/02/2017 and expiring on 12/02/2026. |
| 02/03/2017 | 5% stock dividend paid. |
| 12/01/2017 | Date of grant for stock options exercisable from 03/01/2018 and expiring on 12/01/2027. |
| 02/02/2018 | 5% stock dividend paid. |
| 11/30/2018 | Date of grant for stock options exercisable from 02/28/2019 and expiring on 11/30/2028. |
| 02/01/2019 | 5% stock dividend paid. |
| 03/27/2020 | Date of grant for stock options exercisable from 06/27/2020 and expiring on 03/27/2030. |
| 02/07/2020 | 5% stock dividend paid. |
| 07/17/2020 | 2.5% stock dividend paid. |
| 12/03/2021 | Date of grant for stock options exercisable from 03/03/2022 and expiring on 12/03/2031. |
| 07/16/2021 | 5% stock dividend paid. |
| 12/02/2022 | Date of grant for stock options exercisable from 03/02/2023 and expiring on 12/02/2032. |
| 07/08/2022 | 5% stock dividend paid. |
| 12/01/2023 | Date of grant for stock options exercisable from 03/01/2024 and expiring on 12/01/2033. |
| 07/14/2023 | 5% stock dividend paid. |
| 12/06/2024 | Date of grant for stock options exercisable from 03/06/2025 and expiring on 12/06/2029 and 12/06/2034. |
| 07/12/2024 | 5% stock dividend paid. |
| 03/06/2025 | Options vest in four equal quarterly installments, beginning on this date. |
| 03/27/2025 | Date of the reported transactions: acquisition of Class C Common Stock and disposition of Class A Common Stock. |
| 03/31/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Stock Options, Beneficial Ownership, Security National Financial Corp, SNFCA, Insider Trading, S. Andrew Quist, Class A Common Stock, Class C Common Stock
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