Quist Adam George 4

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.