SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Stephens Jeffrey Russell
(Last) (First) (Middle)
38 NORTHRIDGE WAY
(Street)
SANDY UT 84092
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SECURITY NATIONAL FINANCIAL CORP [ SNFCA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Gen. Counsel & Corp. Sec
3. Date of Earliest Transaction (Month/Day/Year)
12/07/2023
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 12/07/2023 M 9,652 A $8.33 39,684(8) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $4.35(1) 12/04/2015 A 7,573 03/04/2016 12/04/2025 Class A Common Stock 7,573 $4.35 0.0000 D
Employee Stock Option (right to buy) $4.79(2) 12/02/2016 A 7,212 03/02/2017 12/02/2026 Class A Common Stock 7,212 $4.79 0.0000 D
Employee Stock Option (right to buy) $3.62(3) 12/01/2017 A 5,250 03/01/2018 12/01/2027 Class A Common Stock 5,250 $3.62 0.0000 D
Employee Stock Option (right to buy) $4.17(4) 11/30/2018 A 9,812 02/28/2019 11/30/2028 Class A Common Stock 9,812 $4.17 9,812 D
Employee Stock Option (right to buy) $4.34(5) 12/06/2019 A 9,345 03/06/2020 12/06/2029 Class A Common Stock 9,345 $4.34 19,157 D
Employee Stock Option (right to buy) $7.78(6) 12/03/2021 A 8,269 03/03/2022 12/03/2031 Class A Common Stock 8,269 $7.78 27,426 D
Employee Stock Option (right to buy) $6.16(7) 12/02/2022 A 10,500 03/02/2023 12/02/2032 Class A Common Stock 10,500 $6.16 37,926 D
Explanation of Responses:
1. This option was granted on December 4, 2015 as an option for 5,000 shares of Class A Common Stock at an exercise price of $6.72 per share, but adjusted pursuant to the anti-dilution provisions of the 2013 Stock Option Plan to reflect 5% stock dividends paid on February 5, 2016, February 3, 2017, February 2, 2018, 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 08, 2022 and July 14, 2023.
2. This option was granted on December 2, 2016 as an option for 5,000 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 5% stock dividends paid on February 3, 2017, February 2, 2018, 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 08, 2022 and July 14, 2023.
3. This option was granted on December 1, 2017 as an option for 5,000 shares of Class A Common Stock at an exercse price of $5.05 per share, but adjusted pursuant to the anti-dilution provisions of the 2013 Stock Option Plan to reflect a 5% stock dividends paid on February 2, 2018, 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 08, 2022 and July 14, 2023.
4. This option was granted on November 30, 2018 as 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 08, 2022 and July 14, 2023.
5. This option was granted on December 6, 2019 as 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 08, 2022 and July 14, 2023.
6. This option was granted on December 3, 2021 as 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 rights of the 2013 Stock Option Plan to reflect a 5% stock dividend paid on July 08, 2022 and July 14, 2023.
7. This option was granted on December 02, 2022 as 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 2014 Director Stock Option Plan to reflect a 5% stock dividend paid on July 14, 2023.
8. Shares beneficially owned have been adjusted pursuant to a 5% stock dividend paid on July 14, 2023.
/s/ Jeffrey R. Stephens 12/11/2023
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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