Form 4: Security National Financial Director Acquires Shares Through Pre-Planned RSU Vesting
Insider Transaction Report
H. Craig Moody, a Director at Security National Financial Corp, acquired 628 shares of Class A Common Stock on July 1, 2025, through the vesting of restricted stock units under a Rule 10b5-1 plan.
Summary
- H. Craig Moody, a Director of Security National Financial Corp (SNFCA), acquired 628 shares of Class A Common Stock on July 1, 2025.
- The acquisition occurred at a price of $13.08 per share.
- This transaction was a result of the vesting of Restricted Stock Units (RSUs) and was made pursuant to a Rule 10b5-1(c) pre-arranged plan.
- Following this transaction, H. Craig Moody directly beneficially owns 41,024 shares of Class A Common Stock.
- The director also holds various Director Stock Options with exercise prices ranging from $2.99 to $7.59, granted between 2016 and 2023, which have been adjusted for multiple stock dividends.
- A total of 2,509 Restricted Stock Units were granted on December 6, 2024, at $13.08 per share, vesting quarterly and fully by December 31, 2025.
Sentiment
Score: 5
Explanation: The document reports a routine insider transaction (vesting of RSUs) under a pre-arranged plan, which is generally neutral in sentiment. The anti-dilution provisions on options are a minor positive for the option holder.
Positives
- The acquisition of shares by a director increases their direct ownership in the company, aligning their interests with shareholders.
- Director Stock Options include anti-dilution provisions, which have adjusted the exercise prices and number of shares to reflect stock dividends paid between 2017 and 2024, protecting the value of the options for the holder.
Future Outlook
The transaction date of July 1, 2025, indicates a pre-planned future event, specifically the vesting of Restricted Stock Units, which will continue to vest quarterly until fully vested on December 31, 2025.
Industry Context
This Form 4 filing details a routine insider transaction related to equity compensation, which is a common practice across industries for aligning management and director interests with shareholders. It does not provide broader industry-specific insights.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Equity Incentive Plan Usage | The company utilizes the 2014 Director Stock Option Plan and the 2022 Equity Incentive Plan for granting stock options and restricted stock units to directors, demonstrating established equity compensation frameworks. | N/A | These plans are standard corporate governance tools designed to align director incentives with shareholder value through equity ownership. |
Related Party Transactions
- The reported transaction is an insider transaction, specifically the acquisition of shares by a director (H. Craig Moody) through the vesting of Restricted Stock Units, which falls under the category of related party dealings.
Stakeholder Impact
- Shareholders: The increase in direct ownership by a director, even through vesting, can be seen as a minor positive signal of continued alignment of interests, though it does not represent an open market purchase.
- Employees (Directors): The vesting of RSUs and the existence of stock option plans provide ongoing equity compensation and incentives for directors.
Next Steps
- Remaining Restricted Stock Units granted on December 6, 2024, will continue to vest quarterly until fully vested on December 31, 2025.
Key Dates
| Date | Description |
|---|---|
| 12/02/2016 | Grant date for Director Stock Option (1) |
| 12/07/2016 | Grant date for Director Stock Option (2) |
| 02/03/2017 | 5% stock dividend paid (affecting options 1, 2) |
| 03/02/2017 | Date exercisable for Director Stock Option (1) |
| 03/07/2017 | Date exercisable for Director Stock Option (2) |
| 12/01/2017 | Grant date for Director Stock Option (3) |
| 02/02/2018 | 5% stock dividend paid (affecting options 1, 2, 3) |
| 03/01/2018 | Date exercisable for Director Stock Option (3) |
| 11/30/2018 | Grant date for Director Stock Option (4) |
| 02/01/2019 | 5% stock dividend paid (affecting options 1, 2, 3, 4) |
| 02/28/2019 | Date exercisable for Director Stock Option (4) |
| 12/06/2019 | Grant date for Director Stock Option (5) |
| 02/07/2020 | 5% stock dividend paid (affecting options 1, 2, 3, 4, 5, 6) |
| 03/06/2020 | Date exercisable for Director Stock Option (5) |
| 03/27/2020 | Grant date for Director Stock Option (6) |
| 06/27/2020 | Date exercisable for Director Stock Option (6) |
| 07/17/2020 | 2.5% stock dividend paid (affecting options 1, 2, 3, 4, 5, 6) |
| 07/16/2021 | 5% stock dividend paid (affecting options 1, 2, 3, 4, 5, 6) |
| 12/03/2021 | Grant date for Director Stock Option (7) |
| 03/03/2022 | Date exercisable for Director Stock Option (7) |
| 07/08/2022 | 5% stock dividend paid (affecting options 1, 2, 3, 4, 5, 6, 7) |
| 12/02/2022 | Grant date for Director Stock Option (8) |
| 03/02/2023 | Date exercisable for Director Stock Option (8) |
| 07/14/2023 | 5% stock dividend paid (affecting options 1, 2, 3, 4, 5, 6, 7, 8) |
| 12/01/2023 | Grant date for Director Stock Option (9) |
| 03/01/2024 | Date exercisable for Director Stock Option (9) |
| 07/12/2024 | 5% stock dividend paid (affecting options 1, 2, 3, 4, 5, 6, 7, 8, 9) |
| 12/06/2024 | Grant date for Restricted Stock Units (10) |
| 04/01/2025 | Date exercisable for Restricted Stock Units (10) |
| 07/01/2025 | Transaction date for Class A Common Stock acquisition and RSU vesting |
| 07/14/2025 | Filing date of the Form 4 |
| 12/31/2025 | Date Restricted Stock Units will be fully vested and expiration date for RSU (10) |
| 12/02/2026 | Expiration date for Director Stock Option (1) |
| 12/07/2026 | Expiration date for Director Stock Option (2) |
| 12/01/2027 | Expiration date for Director Stock Option (3) |
| 11/30/2028 | Expiration date for Director Stock Option (4) |
| 12/06/2029 | Expiration date for Director Stock Option (5) |
| 03/27/2030 | Expiration date for Director Stock Option (6) |
| 12/03/2031 | Expiration date for Director Stock Option (7) |
| 12/02/2032 | Expiration date for Director Stock Option (8) |
| 12/01/2033 | Expiration date for Director Stock Option (9) |
Keywords
Security National Financial Corp, SNFCA, Form 4, Insider Transaction, Restricted Stock Unit, RSU, Stock Option, Director, Equity Incentive Plan, 10b5-1 Plan, Stock Acquisition, Corporate Governance
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