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SECURITY NATIONAL FINANCIAL CORP·4

Apr 23, 11:09 AM ET

Quist Adam George 4

4 · SECURITY NATIONAL FINANCIAL CORP · Filed Apr 23, 2026

Research Summary

AI-generated summary of this filing

Updated

Security National (SNFCA) 10% Owner Adam Quist Exercises Options

What Happened Adam George Quist, identified as a 10% owner of Security National Financial Corp (SNFCA), exercised/converted options on April 18, 2026 to acquire 8,934 shares of common stock at an exercise price of $9.86 per share, for a total cash outlay of $88,089. The Form 4 shows this as a derivative exercise (transaction code M) and reports numerous prior option grants and adjustments dating back to 2016 through 2025.

Key Details

  • Transaction date: 2026-04-18 — 8,934 shares acquired at $9.86 each, total $88,089 (code M: option exercise/conversion).
  • Filing date: 2026-04-23 (filed 5 calendar days after the transaction; likely later than the 2 business-day Form 4 deadline).
  • No immediate sale reported in this filing — shares were acquired (not sold).
  • Indirect holdings noted in footnotes: 22,143 shares in a Deferred Compensation Plan (F1) and 28,726 shares in a 401(k) plan (F2).
  • Several prior option grants listed (2016–2025) with footnotes (F3–F14) explaining elections between Class A and Class C stock, anti-dilution adjustments for stock dividends, and vesting terms for the 2025 grants (vest quarterly beginning Mar 5, 2026).
  • Transaction type mapping: M = exercised/converted derivative; A = grant/award; (the filing also lists many earlier awards as derivatives).

Context

  • This filing shows an option exercise (a purchase of shares by exercising derivatives). The filing does not indicate a cashless sale or immediate disposition of the newly acquired shares. Exercises can reflect routine option exercises for vesting/tax reasons rather than a directional bet; as a 10% owner, Quist is a substantial shareholder rather than necessarily an active executive trade.
  • Notable: several recent grants (Dec 5–6, 2024 and Dec 5, 2025) include elections between Class A and Class C shares, anti-dilution adjustments for 5% stock dividends, and vesting schedules — see footnotes F10–F14 for details.

Insider Transaction Report

Form 4
Period: 2026-04-18
SECURITY NATIONAL FINANCIAL CORPSNFCA
Quist Adam George
DirectorVice President/General Counsel10% Owner
Transactions
  • Exercise/Conversion

    Class A Common Stock

    [F1][F2]
    2026-04-18$9.86/sh+8,934$88,089→ 19,942 total
  • Award

    Employee Stock Option (right to buy)

    [F3]
    2016-12-02$4.32/sh−15,901$68,692→ 0 total
    Exercise: $4.32From: 2017-03-02Exp: 2026-12-02→ Class A Common Stock (15,901 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F4]
    2017-12-01$3.27/sh+22,716$74,281→ 22,716 total
    Exercise: $3.27From: 2018-03-01Exp: 2027-12-01→ Class C Common Stock (22,716 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F5]
    2018-11-30$3.76/sh+28,846$108,461→ 51,562 total
    Exercise: $3.76From: 2019-02-28Exp: 2028-11-30→ Class C Common Stock (28,846 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F6]
    2019-12-06$3.91/sh+48,076$187,977→ 99,638 total
    Exercise: $3.91From: 2020-03-06Exp: 2029-12-06→ Class C Common Stock (48,076 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F7]
    2020-03-27$2.84/sh+45,787$130,035→ 145,425 total
    Exercise: $2.84From: 2020-06-27Exp: 2030-03-27→ Class C Common Stock (45,787 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F8]
    2021-12-03$7.02/sh+72,931$511,976→ 218,356 total
    Exercise: $7.02From: 2022-03-03Exp: 2031-12-03→ Class C Common Stock (72,931 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F9]
    2022-12-02$5.56/sh+92,610$514,912→ 310,966 total
    Exercise: $5.56From: 2023-03-02Exp: 2032-12-02→ Class C Common Stock (92,610 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F10]
    2023-12-01$7.21/sh+88,200$635,922→ 399,166 total
    Exercise: $7.21From: 2024-03-01Exp: 2033-12-01→ Class C Common Stock (88,200 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F11]
    2024-12-06$13.67/sh+7,298$99,764→ 406,464 total
    Exercise: $13.67From: 2025-03-06Exp: 2029-12-06→ Class C Common Stock (7,298 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F12]
    2024-12-06$12.43/sh+76,703$953,418→ 483,167 total
    Exercise: $12.43From: 2025-03-06Exp: 2034-12-06→ Class C Common Stock (76,703 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F13]
    2025-12-05$9.38/sh+10,657$99,963→ 493,824 total
    Exercise: $9.38From: 2026-03-05Exp: 2030-12-05→ Class A Common Stock (10,657 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F14]
    2025-12-05$8.53/sh+289,343$2,468,096→ 783,167 total
    Exercise: $8.53From: 2026-03-05Exp: 2035-12-05→ Class C Common Stock (289,343 underlying)
Footnotes (14)
  • [F1]Does not include 22,143 shares of Class A Common Stock owned indirectly by the reporting person in the Deferred Compensation Plan.
  • [F10]This option was granted on December 1, 2023 as an option for either 80,000 shares of Class A Common Stock or 80,000 shares of Class C Common Stock at an exercise price of $7.99 per share. This option reflects the reporting person's election to have an option for 80,000 Class C Common Stock, but adjusted pursuant to the anti-dilution rights of the 2022 Equity Incentive Plan to reflect a 5% stock dividend paid on July 12, 2024 and July 18, 2025.
  • [F11]This option was granted on December 6, 2024 as an option for either 6,950 shares of Class A Common Stock or 6,950 shares of Class C Common Stock at an exercise price of $14.39 per share. This option reflects the reporting person's election to have an option for 6,950 Class C Common Stock, but adjusted pursuant to the anti-dilution rights of the 2022 Equity Incentive Plan to reflect a 5% stock dividend paid on July 18, 2025.
  • [F12]This option was granted on December 6, 2024 as an option for either 73,050 shares of Class A Common Stock or 73,050 shares of Class C Common Stock at an exercise price of $13.08 per share. This option reflects the reporting person's election to have an option for 73,050 Class C Common Stock, but adjusted pursuant to the anti-dilution rights of the 2022 Equity Incentive Plan to reflect a 5% stock dividend paid on July 18, 2025.
  • [F13]This option was granted on December 5, 2025 as an option for either 10,657 shares of Class A Common Stock or 10,657 shares of Class C Common Stock at an exercise price of $9.38 per share. This option reflects the reporting person's election to have an option for 10,657 Class A Common Stock. These options vest quarterly in equal installments, beginning on March 5, 2026.
  • [F14]This option was granted on December 5, 2025 as an option for either 289,343 shares of Class A Common Stock or 289,343 shares of Class C Common Stock at an exercise price of $8.53 per share. This option reflects the reporting person's election to have an option for 289,343 Class C Common Stock. These options vest quarterly in equal installments, beginning on March 5, 2026.
  • [F2]Does not include 28,726 shares of Class A Common Stock owned indirectly by the reporting person in the 401(k) Retirement Savings Plan.
  • [F3]This option was granted on December 2, 2016 as an option to purchase 10,000 shares of Class A Common Stock at an exercise price of $7.03 per share, but adjusted pursuant to the anti-dilution provisions of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on February 3, 2017, February 2, 2018, February 1, 2019, and February 7, 2020; a 2.5% stock dividend paid on July 17, 2020; a 5% stock dividend paid on July 16, 2021, July 8, 2022, July 14, 2023, July 12, 2024 and July 18, 2025.
  • [F4]This option was granted on December 1, 2017 as an option to purchase either 15,000 shares of Class A Common Stock or 15,000 shares of Class C Common Stock at an exercise price of $5.05 per share. This option reflects the reporting person's election to have an option for 15,000 shares of Class C Common Stock, but adjusted pursuant to the anti-dilution provisions of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on February 2, 2018, February 1, 2019, and February 7, 2020; a 2.5% stock dividend paid on July 17, 2020; a 5% stock dividend paid on July 16, 2021, July 8, 2022, July 14, 2023, July 12, 2024 and July 18, 2025.
  • [F5]This option was granted on November 30, 2018 as an option to purchase either 20,000 shares of Class A Common Stock or 20,000 shares of Class C Common Stock at an exercise price of $5.52 per share. This option reflects the reporting person's election to have an option for 20,000 shares of Class C Common Stock, but adjusted pursuant to the anti-dilution rights of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on February 1, 2019 and February 7, 2020; a 2.5% stock dividend paid on July 17, 2020; a 5% stock dividend paid on July 16, 2021, July 8, 2022, July 14, 2023, July 12, 2024 and July 18, 2025.
  • [F6]This option was granted on December 6, 2019 as an option to purchase either 35,000 shares of Class A Common Stock or 35,000 shares of Class C Common Stock at an exercise price of $5.46 per share. This option reflects the reporting person's election to have an option for 35,000 shares of Class C Common Stock, but adjusted pursuant to the anti-dilution rights of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on February 7, 2020; a 2.5% stock dividend paid on July 17, 2020; a 5% stock dividend paid on July 16, 2021, July 8, 2022, July 14, 2023, July 12, 2024 and July 18, 2025.
  • [F7]This option was granted on March 27, 2020 as an option to purchase either 35,000 shares of Class A Common Stock or 35,000 shares of Class C Common Stock at an exercise price of $3.76 per share. This option reflects the reporting person's election to have an option for 35,000 shares of Class C Common Stock, but adjusted pursuant to the anti-dilution rights of the 2013 Stock Option Plan to reflect a 2.5% stock dividend paid on July 17, 2020; a 5% stock dividend paid on July 16, 2021, July 8, 2022, July 14, 2023, July 12, 2024 and July 18, 2025.
  • [F8]This option was granted on December 3, 2021 as an option to purchase either 60,000 shares of Class A Common Stock or 60,000 shares of Class C Common Stock at an exercise price of $8.62 per share. This option reflects the reporting person's election to have an option for 60,000 shares of Class C Common Stock, but adjusted pursuant to the anti-dilution rights of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on July 8, 2022, July 14, 2023, July 12, 2024 and July 18, 2025.
  • [F9]This option was granted on December 2, 2022 as an option for either 80,000 shares of Class A Common Stock or 80,000 shares of Class C Common Stock at an exercise price of $6.48 per share. This option reflects the reporting person's election to have an option for 80,000 shares of Class C Common Stock, but adjusted pursuant to the anti-dilution rights of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on July 14, 2023, July 12, 2024 and July 18, 2025.
Signature
/s/ Adam Quist|2026-04-23

Documents

1 file
  • 4
    form4.xmlPrimary

    PRIMARY DOCUMENT