<SEC-DOCUMENT>0001096906-12-000492.txt : 20120307
<SEC-HEADER>0001096906-12-000492.hdr.sgml : 20120307
<ACCEPTANCE-DATETIME>20120307132943
ACCESSION NUMBER:		0001096906-12-000492
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20111202
FILED AS OF DATE:		20120307
DATE AS OF CHANGE:		20120307

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			QUIST SCOTT M
		CENTRAL INDEX KEY:			0001268844

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09341
		FILM NUMBER:		12673540

	MAIL ADDRESS:	
		STREET 1:		7 WANDERWOOD WAY
		CITY:			SANDY
		STATE:			UT
		ZIP:			84092

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SECURITY NATIONAL FINANCIAL CORP
		CENTRAL INDEX KEY:			0000318673
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				870345941
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 57220
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84157
		BUSINESS PHONE:		8012641060

	MAIL ADDRESS:	
		STREET 1:		PO BOX 57220
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84157

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SNL FINANCIAL CORP
		DATE OF NAME CHANGE:	19910401
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
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        <issuerName>SECURITY NATIONAL FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>SNFCA</issuerTradingSymbol>
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            <rptOwnerName>QUIST SCOTT M</rptOwnerName>
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            <rptOwnerState>UT</rptOwnerState>
            <rptOwnerZipCode>84092</rptOwnerZipCode>
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            <isTenPercentOwner>1</isTenPercentOwner>
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            <officerTitle>President,Chief Operating Offi</officerTitle>
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                    <footnoteId id="F8"/>
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                <value>Employee Stock Option (right to buy)</value>
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                <footnoteId id="F10"/>
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                    <footnoteId id="F9"/>
                    <footnoteId id="F10"/>
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                    <footnoteId id="F9"/>
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                    <footnoteId id="F10"/>
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    <footnotes>
        <footnote id="F1">Received pursuant to a 5% stock dividend declared on December 2, 2011 and paid on February 3, 2012.</footnote>
        <footnote id="F2">Owned jointly by the reporting person and his wife. Does not include 230,644 shares of Class A Common Stock and 335,213 shares of Class C Common Stock owned indirectly by the reporting person in the Employee Stock Ownership Plan (ESOP), Associated Investors, the 401(k) Retirement Savings Plan, and the Deferred Compensation Plan.</footnote>
        <footnote id="F3">This option was originally reported as an option for 70,000 shares of Class A Common Stock at an exercise price of $5.90 per share, but adjusted pursuant to the anti-dilution provisions of the 1993 Stock Option Plan to reflect 5% stock dividends paid on January 19, 2004, February 7, 2005, February 17, 2006, February 9, 2007, February 8, 2008, February 6, 2009, February 5, 2010, February 4, 2011 and February 3, 2012.</footnote>
        <footnote id="F4">This option was originally reported as an option for 70,000 shares of Class A Common Stock at an exercise price of $3.51 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect 5% stock dividends paid on February 17, 2006, February 9, 2007, February 8, 2008, February 6, 2009, February 5, 2010, February 4, 2011 and February 3, 2012.</footnote>
        <footnote id="F5">This option was originally granted as an option for either 50,000 shares of Class A Common Stock at an exercise price of $4.24 per share or 500,000 share of Class C Common Stock at an exercise price of $0.424 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 500,000 shares of Class C Common Stock at an exercise price of $0.424 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect 5% stock dividends paid on February 6, 2009, February 5, 2010, February 4, 2011 and February 3, 2012.</footnote>
        <footnote id="F6">This option was originally granted as an option for either 100,000 shares of Class A Common Stock at an exercise price of $1.65 per share or 1,000,000 share of Class C Common Stock at an exercise price of $0.165 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 38,923 shares of Class A Common Stock at an exercise price of $1.65 per share and 610,770 shares of Class C Common Stock at an exercise price of $0.165 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect 5% stock dividends paid on February 6, 2009, February 5, 2010, February 4, 2011 and February 3, 2012.</footnote>
        <footnote id="F7">This option was originally granted as an option for either 100,000 share of Class A Common Stock at an exercise price of $3.87 per share or 1,000,000 shares of Class C Common Stock at an exercise price of $.387 per share. or any combination thereof. This option reflects the reporting person's election to have an option for 1,000,000 shares of Class C Common Stock at an exercise price of $.387 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to relfect 5% stock dividends paid on Feburary 5, 2010, February 4, 2011 and February 3, 2012.</footnote>
        <footnote id="F8">This option was originally granted as an option for either 100,000 shares of Class A Commono Stock at an exercise price of $2.01 per share or 1,000,000 shares of Class C Common Stock at an exercise price of $0.201 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 1,000,000 shares of Class C Common Stock at an exercise price of $0.201 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to relfect 5% stock dividends paid on Febuary 4, 2011 and February 12, 2012.</footnote>
        <footnote id="F9">This option was granted on December 2, 2011 as an option for either 100,000 shares of Class A Common Stock at an exercise price of $1.43 per share or 1,000,000 shares of Class C Common Stock at an exercise price of $0.143 per share, or any combination thereof. Because there are only five shares of Class C Common Stock remaining to be issued under the 2003 Stock Option Plan, the reporting person cannot elect at this time the option for 1,000,000 shares of Class C Common Stock. Thus this option reflects an option for 100,000 shares of Class A Common Stock at an exercise price of $1.43 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect a 5% stock dividend paid on February 3, 2012.</footnote>
        <footnote id="F10">This option vests in four equal quarterly installments, beginning on March 31, 2012, until such shares are fully vested. At such time as the Stock Option Plan is amended to provide for the issuance of an additional 1,000,000 shares of Class C Common Stock, the reporting person will elect to have the option for 1,000,000 shares of Class C common Stock at an exercise price of $0.143 per share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/Scott M. Quist</signatureName>
        <signatureDate>2012-03-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
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</SEC-DOCUMENT>
