Form 4: Security National Financial Corp: Officer Stephens Exercises Stock Options and Acquires Shares
SEC Form 4
Jeffrey Russell Stephens, General Counsel & Corporate Secretary of Security National Financial Corp, reports acquiring shares through the exercise of employee stock options.
Summary
- On September 17, 2024, Jeffrey Russell Stephens, General Counsel & Corporate Secretary of Security National Financial Corp, filed a Form 4.
- Stephens acquired 11,209 shares of Class A Common Stock at a price of $8.59 per share.
- These shares were acquired through the exercise of employee stock options.
- Stephens also acquired derivative securities in the form of employee stock options with varying exercise prices and expiration dates.
- Following the reported transactions, Stephens directly owns 38,152 shares of Class A Common Stock.
- Stephens also indirectly owns 119,555 shares of Class A Common Stock in the 401(k) Retirement Savings Plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing indicating an officer exercising stock options, which can be seen as a positive sign of confidence, but it's not overwhelmingly positive.
Positives
- The exercise of stock options by an officer could be seen as a positive signal, indicating confidence in the company's future performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors often monitor these filings to gauge sentiment and potential future actions.
Stakeholder Impact
- The transaction may have a minor positive impact on shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 11/30/2018 | Date of grant for an option for 7,500 shares of Class A Common Stock at an exercise price of $5.52 per share, but adjusted pursuant to the anti-dilutions provisions of the 2013 Stock Option Plan to reflect 5% stock dividends paid on February 1, 2019 and February 7, 2020; a 2 1/2% stock dividend paid on July 17, 2020; a 5% stock dividend paid on July 16, 2021, July 8, 2022, July 14, 2023 and July 12, 2023. |
| 02/28/2019 | Date exercisable for 10,303 shares of Class A Common Stock |
| 12/06/2019 | Date of grant for an option for 7,500 shares of Class A Common Stock at an exercise price of $5.46 per share, but adjusted pursuant to the anti-dilutions provisions of the 2013 Stock Option Plan to reflect a stock dividend paid on February 7, 2020; a 2 1/2% stock dividend paid on July 17, 2020; a 5% stock dividend paid on July 16, 2021, July 8, 2022, July 14, 2023 and July 12, 2024. |
| 03/06/2020 | Date exercisable for 9,812 shares of Class A Common Stock |
| 12/03/2021 | Date of grant for an option for 7,500 shares of Class A Common Stock at an exercise price of $8.62 per share, but adjusted pursuant to the anti-dilution provision of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on July 8, 2022, July 14, 2023 and July 12, 2024. |
| 03/03/2022 | Date exercisable for 8,682 shares of Class A Common Stock |
| 12/02/2022 | Date of grant for an option for 10,000 shares of Class A Common Stock at an exercise price of $6.48 per share, but adjusted pursuant to the anti-dilution provisions of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on July 14, 2023 and July 12, 2024. |
| 03/02/2023 | Date exercisable for 11,025 shares of Class A Common Stock |
| 12/01/2023 | Date of grant for an option for 10,000 shares of Class A Common Stock at an exercise price of $7.99 per share, but adjusted pursuant to the 2022 Equity Incentive Plan to reflect a 5% stock dividend paid on July 12, 2024. The options vest in four equal quarterly installments, beginning on March 01, 2024. |
| 03/01/2024 | Date exercisable for 10,500 shares of Class A Common Stock |
| 09/17/2024 | Date of transaction: Stephens acquired 11,209 shares of Class A Common Stock at $8.59 per share and acquired new employee stock options. |
| 09/18/2024 | Date of signature for the Form 4 filing. |
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