<SEC-DOCUMENT>0001493152-22-003373.txt : 20220207
<SEC-HEADER>0001493152-22-003373.hdr.sgml : 20220207
<ACCEPTANCE-DATETIME>20220207165439
ACCESSION NUMBER:		0001493152-22-003373
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20211203
FILED AS OF DATE:		20220207
DATE AS OF CHANGE:		20220207

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sill Garrett S.
		CENTRAL INDEX KEY:			0001568673

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09341
		FILM NUMBER:		22598280

	MAIL ADDRESS:	
		STREET 1:		2463 SOUTH 1375 WEST
		CITY:			SYRACUSE
		STATE:			UT
		ZIP:			84075

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>5
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
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    <schemaVersion>X0306</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2021-12-03</periodOfReport>

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    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000318673</issuerCik>
        <issuerName>SECURITY NATIONAL FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>SNFCA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001568673</rptOwnerCik>
            <rptOwnerName>Sill Garrett S.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2463 SOUTH 1375 WEST</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SYRACUSE</rptOwnerCity>
            <rptOwnerState>UT</rptOwnerState>
            <rptOwnerZipCode>84075</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CFO and Treasurer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-01-31</value>
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            <deemedExecutionDate></deemedExecutionDate>
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                <transactionFormType>5</transactionFormType>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.36</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                    <footnoteId id="F2"/>
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                    <footnoteId id="F2"/>
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            <underlyingSecurity>
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            <conversionOrExercisePrice>
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            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
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                <underlyingSecurityShares>
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                    <footnoteId id="F3"/>
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                    <footnoteId id="F3"/>
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            <securityTitle>
                <value>Employee Stock Option(right to buy)</value>
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            <conversionOrExercisePrice>
                <value>3.43</value>
                <footnoteId id="F4"/>
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            <transactionDate>
                <value>2014-12-05</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
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                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>11538</value>
                    <footnoteId id="F4"/>
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                <transactionPricePerShare>
                    <value>3.43</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2015-03-05</value>
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            <expirationDate>
                <value>2024-12-05</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
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                <underlyingSecurityShares>
                    <value>11538</value>
                    <footnoteId id="F4"/>
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                    <value>11538</value>
                    <footnoteId id="F4"/>
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                    <value>D</value>
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        <derivativeTransaction>
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                <value>Employee Stock Option(right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>4.01</value>
                <footnoteId id="F5"/>
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            <transactionDate>
                <value>2017-12-01</value>
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            <deemedExecutionDate></deemedExecutionDate>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionTimeliness></transactionTimeliness>
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                    <value>18689</value>
                    <footnoteId id="F5"/>
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                <transactionPricePerShare>
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                    <footnoteId id="F5"/>
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                <transactionAcquiredDisposedCode>
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            <exerciseDate>
                <value>2018-03-01</value>
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            <expirationDate>
                <value>2027-12-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class C Common Stock</value>
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                <underlyingSecurityShares>
                    <value>18689</value>
                    <footnoteId id="F5"/>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
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        <derivativeTransaction>
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                <value>Employee Stock Option(right to buy)</value>
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            <conversionOrExercisePrice>
                <value>4.62</value>
                <footnoteId id="F6"/>
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            <transactionDate>
                <value>2018-11-30</value>
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            <deemedExecutionDate></deemedExecutionDate>
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                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>23731</value>
                    <footnoteId id="F6"/>
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                <transactionPricePerShare>
                    <value>4.62</value>
                    <footnoteId id="F6"/>
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                <transactionAcquiredDisposedCode>
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            <exerciseDate>
                <value>2019-02-28</value>
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            <expirationDate>
                <value>2028-11-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class C Common Stock</value>
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                <underlyingSecurityShares>
                    <value>23731</value>
                    <footnoteId id="F6"/>
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                <sharesOwnedFollowingTransaction>
                    <value>23731</value>
                    <footnoteId id="F6"/>
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                <directOrIndirectOwnership>
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        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option(right to buy)</value>
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            <conversionOrExercisePrice>
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            <transactionDate>
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                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <footnoteId id="F7"/>
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        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option(right to buy)</value>
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                <value>3.49</value>
                <footnoteId id="F8"/>
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            <transactionDate>
                <value>2020-03-27</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionTimeliness></transactionTimeliness>
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                <transactionShares>
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                    <footnoteId id="F8"/>
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                <transactionPricePerShare>
                    <value>3.49</value>
                    <footnoteId id="F8"/>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <value>2020-06-27</value>
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            <expirationDate>
                <value>2030-03-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class C Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>26906</value>
                    <footnoteId id="F8"/>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>26906</value>
                    <footnoteId id="F8"/>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option(right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.62</value>
                <footnoteId id="F9"/>
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            <transactionDate>
                <value>2021-12-03</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
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                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>30000</value>
                    <footnoteId id="F9"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.62</value>
                    <footnoteId id="F9"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2022-03-03</value>
            </exerciseDate>
            <expirationDate>
                <value>2031-12-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class C Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>30000</value>
                    <footnoteId id="F9"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>30000</value>
                    <footnoteId id="F9"/>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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    </derivativeTable>

    <footnotes>
        <footnote id="F1">Does not include shares of Class A Common Stock owned indirectly by the reporting person in the 401(k) Retirement Savings Plan, and shares of Class A Common Stock owned indirectly by the reporting person in the Non-Qualified Deferred Compensation Plan.</footnote>
        <footnote id="F2">This option was granted on December 6, 2013 as an option for 4,000 shares of Class A Common Stock at an exercise price of $4.85 per share, but adjusted pursuant to the anti-dilution provisions of the Amended and Restated 2013 Stock Option and Other Equity Incentive Awards Plan (the &quot;2013 Stock Option Plan&quot;) to reflect 5% stock dividends paid on February 7, 2014, February 6, 2015, 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; and a 5% stock dividend paid on July 16, 2021.</footnote>
        <footnote id="F3">This option was granted on July 2, 2014 as an option for 4,000 shares of Class A Common Stock at an exercise price of $4.29 per share, but adjusted pursuant to the anti-dilution provisions of the 2013 Stock Option Plan to reflect 5% stock dividends paid on February 6, 2015, 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; and a 5% stock dividend paid on July 16, 2021.</footnote>
        <footnote id="F4">This option was granted on December 5, 2014 as an option for 8,000 shares of Class A Common Stock at an exercise price of $5.02 per share, but adjusted pursuant to the anti-dilution provisions of the 2013 Stock Option Plan to reflect 5% stock dividends paid on February 6, 2015, 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; and a 5% stock dividend paid on July 16, 2021.</footnote>
        <footnote id="F5">This option was granted on December 1, 2017 as an option for either 15,000 shares of Class A Common Stock at an exercise price of $5.05 per share or 15,000 shares of Class C Common Stock at an exercise price of $5.05 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 15,000 shares of Class C Common Stock at an exercise price of $5.05 per share, but adjusted pursuant to the anti-dilutions provisions of the 2013 Stock Option Plan to reflect 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; and a 5% stock dividend paid on July 16, 2021.</footnote>
        <footnote id="F6">This option was granted on November 30, 2018 as an option for either 20,000 shares of Class A Common Stock at an exercise price of $5.52 per share or 20,000 shares of Class C Common Stock at an exercise price of $5.52 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 20,000 shares of Class C Common Stock at an exercise price of $5.52 per share, but adjusted pursuant to the anti-dilution 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; and a 5% stock dividend paid on July 16, 2021.</footnote>
        <footnote id="F7">This option was granted on December 6, 2019 as an option for either 25,000 shares of Class A Common Stock at an exercise price of $5.46 per share or 25,000 shares of Class C Common Stock at an exercise price of $5.46 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 25,000 shares of Class C Common Stock at an exercise price of $5.46 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 7, 2020; a 2 1/2% stock dividend paid on July 17, 2020; and a 5% stock dividend paid on July 16, 2021.</footnote>
        <footnote id="F8">This option was granted on March 27, 2020 as an option for either 25,000 shares of Class A Common Stock at an exercise price of $3.76 per share or 25,000 shares of Class C Common Stock at an exercise price of $3.76 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 25,000 shares of Class C Common Stock at an exercise price of $3.76 per share, but adjusted pursuant to the anti-dilution provisions of the 2013 Stock Option Plan to reflect a 2 1/2% stock dividend paid on July 17, 2020; and a 5% stock dividend paid on July 16, 2021.</footnote>
        <footnote id="F9">This option was granted on December 3, 2021 as an option for either 30,000 shares of Class A Common Stock at an exercise price of $8.62 per share or 30,000 shares of Class C Common Stock at an exercise price of $8.62 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 30,000 shares of Class C Common Stock at an exercise price of $8.62 per share. This option vests in four equal quarterly installments of Class C Common Stock, beginning on March 3, 2022, until such shares are fully vested.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Garrett S. Sill</signatureName>
        <signatureDate>2022-02-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
