Form 4: Security National Financial Officer Gifts Shares, Acquires RSUs

Jeffrey R. Stephens, General Counsel and Corporate Secretary of Security National Financial Corp, reported gifting 10,000 Class A Common Stock shares and acquiring 603 restricted stock units.

Summary

• Jeffrey R. Stephens, General Counsel and Corporate Secretary of Security National Financial Corp (SNFCA), reported a change in beneficial ownership.
• On December 12, 2025, 10,000 shares of Class A Common Stock were disposed of via a gift (transaction code 'G') at a price of $9.01 per share.
• Following this transaction, direct beneficial ownership of Class A Common Stock stands at 34,745 shares.
• An additional 127,085 shares of Class A Common Stock are owned indirectly by Mr. Stephens through the 401(k) Retirement Savings Plan.
• On December 6, 2024, 603 Restricted Stock Units (RSUs) were acquired (transaction code 'A') at a price of $13.08 per unit.
• These RSUs represent a portion of a larger grant of 2,413 shares of Class A Common Stock under the 2022 Equity Incentive Plan.
• The acquired RSUs will become exercisable on April 1, 2025, and will be fully vested by December 31, 2025, which is also their expiration date.
• Following the RSU acquisition, 603 derivative securities (Restricted Stock Units) are beneficially owned directly.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions, including both a gift of shares and an acquisition of restricted stock units. These actions are generally neutral in sentiment, reflecting standard compensation and personal financial planning rather than a strong positive or negative signal about the company's immediate prospects.

Positives

• The acquisition of 603 Restricted Stock Units aligns management's interests with shareholders, as the value of these units is tied to the company's stock performance.
• The RSU grant is part of an equity incentive plan, indicating ongoing efforts to incentivize key personnel.

Negatives

• The gifting of 10,000 shares of Class A Common Stock reduces the direct beneficial ownership of the General Counsel and Corporate Secretary.

Future Outlook

The acquired Restricted Stock Units are scheduled to vest quarterly and will be fully vested by December 31, 2025, aligning future compensation with company performance.

Industry Context

Insider transactions, such as stock gifts and RSU grants, are routine disclosures for publicly traded companies. They provide transparency into management's ownership changes and compensation structures, which are standard practices across industries.

Corporate Governance

Related Party Transactions

• The reported transactions involve an officer of Security National Financial Corp, Jeffrey R. Stephens, and are considered insider dealings.

Stakeholder Impact

• Shareholders: The gifting of shares slightly reduces direct insider ownership, while the RSU grant aligns management's future incentives with shareholder returns.
• Employees (specifically Mr. Stephens): The RSU grant represents a component of executive compensation, vesting over time and contingent on continued employment and potentially company performance.

Next Steps

• The remaining tranches of the 2,413 Restricted Stock Units will continue to vest quarterly until fully vested on December 31, 2025.

Key Dates

Keywords

SNFCA, Insider Transaction, Form 4, Stock Gift, Restricted Stock Units, Equity Incentive Plan, Beneficial Ownership