SEC FORM 4

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^*

Quist George Robert

(Last)

(First)

(Middle)

4491 WANDER LANE

(Street)

SALT LAKE CITY

84106

(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)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and C.E.O.

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2008

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	01/18/2008		J⁽¹⁾		39,532	A	$3.75	831,466⁽²⁾	D
Class C Common Stock	01/18/2008		J⁽¹⁾		185,301	A	$0.375	3,891,308⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$3.26⁽³⁾	07/16/2004		A		60,775⁽³⁾		07/16/2004	07/16/2009	Class A Common Stock	60,775⁽³⁾	$3.26⁽³⁾	60,775⁽³⁾	D
Employee Stock Option (right to buy)	$2.92⁽⁴⁾	12/10/2004		P		60,775⁽⁴⁾		12/10/2004	12/10/2009	Class A Common Stock	60,775⁽⁴⁾	$2.92⁽⁴⁾	60,775⁽⁴⁾	D
Employee Stock Option (right to buy)	$3.33⁽⁵⁾	03/25/2005		A		81,034⁽⁵⁾		03/25/2005	03/25/2010	Class A Common Stock	81,034⁽⁵⁾	$3.33⁽⁵⁾	81,034⁽⁵⁾	D
Employee Stock Option (right to buy)	$4.235	03/31/2008		A		50,000		06/30/2008⁽⁶⁾	03/31/2013	Class A Common Stock	50,000	$4.235	50,000	D

Explanation of Responses:

1. Received pursuant to a 5% stock dividend paid on January 18, 2008.

2. Includes 552,325 shares of Class A Common Stock and 3,884,588 shares of Class C Common Stock owned by George R. and Shirley C. Quist Family Partnership, Ltd. Does not include 81,468 shares of Class A Common Stock and 544,757 shares of Class C Common Stock owned indirectly by the reporting person in the 401(k) Retirement Savings Plan, Associated Investors, the Employee Stock Ownership Plan (ESOP), and the Deferred Compensation Plan.

3. This option was originally reported as covering 50,000 shares of Class A Common Stock at an exercise price of $3.96 per share, but adjusted to reflect 5% stock dividends on January 22, 2005, January 20, 2006, January 19, 2007, and January 18, 2008.

4. This option was originally reported as covering 50,000 shares of Class A Common Stock at an exercise price of $3.55 per share, but adjusted to reflect 5% stock dividends on January 22, 2005, January 20, 2006, January 19, 2007, and January 18, 2008.

5. This option was originally reported as covering 70,000 shares of Class A Common Stock at an exercise price of $3.86 per share, but adjusted to reflect 5% stock dividends on January 20, 2006, January 19, 2007, and January 18, 2008.

6. This option vests in four equal quarterly installments of 12,500 shares of Class A Common Stock, beginning on June 30, 2008, until such shares are fully vested.

	/s/ George R. Quist	06/12/2008
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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