XML 40 R28.htm IDEA: XBRL DOCUMENT
v3.25.1

Stock Compensation Plans (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Activity Restricted Stock Units | The activity of the stock option plans during the three month period ended March 31, 2025, is summarized as follows: Schedule of Activity Restricted Stock Units
|  | Number of Class A Shares |  |  | Weighted Average Exercise Price (2) |  |  | Number of Class C Shares |  |  | Weighted Average Exercise Price (2) |
Outstanding at December 31, 2024 |  |  | 646,594 |  |  | $ | 5.93 |  |  |  | 1,724,400 |  |  | $ | 7.23 |
Granted |  |  | 24,000 |  |  |  |  |  |  |  | - |  |  |  |  |
Exercised |  |  | (112,735 | ) |  |  |  |  |  |  | (113,023 | ) |  |  |  |
Cancelled |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |
Outstanding at March 31, 2025 |  |  | 557,859 |  |  | $ | 6.24 |  |  |  | 1,611,377 |  |  | $ | 7.50 |
As of March 31, 2025: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options exercisable |  |  | 501,834 |  |  | $ | 5.51 |  |  |  | 1,363,881 |  |  | $ | 6.47 |
As of March 31, 2025: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available options for future grant |  |  | 53,718 |  |  |  |  |  |  |  | 146,238 |  |  |  |  |
Weighted average contractual term of options outstanding at March 31, 2025 |  |  | 5.38 years |  |  |  |  |  |  |  | 6.64 years |  |  |  |  |
Weighted average contractual term of options exercisable at March 31, 2025 |  |  | 5.02 years |  |  |  |  |  |  |  | 6.16 years |  |  |  |  |
Aggregated intrinsic value of options outstanding at March 31, 2025 (1) |  | $ | 3,269,071 |  |  |  |  |  |  | $ | 7,406,757 |  |  |  |  |
Aggregated intrinsic value of options exercisable at March 31, 2025 (1) |  | $ | 3,305,118 |  |  |  |  |  |  | $ | 7,676,614 |  |  |  |  |
(1) |  | The Company used a stock price of $12.10 as of March 31, 2025 to derive intrinsic value.
(2) |  | Adjusted for the effect of annual stock dividends.
SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements March 31, 2025 (Unaudited) 5) Stock Compensation Plans (Continued) The activity of the stock option plans during the three month period ended March 31, 2024, is summarized as follows:
|  | Number of Class A Shares |  |  | Weighted Average Exercise Price (2) |  |  | Number of Class C Shares |  |  | Weighted Average Exercise Price |
Outstanding at December 31, 2023 |  |  | 833,570 |  |  | $ | 5.22 |  |  |  | 1,520,062 |  |  | $ | 5.86 |
Granted |  |  | 16,500 |  |  |  |  |  |  |  | - |  |  |  |  |
Exercised |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |
Cancelled |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |
Outstanding at March 31, 2024 |  |  | 850,070 |  |  | $ | 5.29 |  |  |  | 1,520,062 |  |  | $ | 5.86 |
As of March 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options exercisable |  |  | 765,695 |  |  | $ | 4.97 |  |  |  | 1,291,312 |  |  | $ | 5.47 |
As of March 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available options for future grant |  |  | 76,320 |  |  |  |  |  |  |  | 529,750 |  |  |  |  |
Weighted average contractual term of options outstanding at March 31, 2024 |  |  | 5.00 years |  |  |  |  |  |  |  | 6.25 years |  |  |  |  |
Weighted average contractual term of options exercisable at March 31, 2024 |  |  | 4.57 years |  |  |  |  |  |  |  | 5.83 years |  |  |  |  |
Aggregated intrinsic value of options outstanding at March 31, 2024 (1) |  | $ | 2,230,953 |  |  |  |  |  |  | $ | 3,108,691 |  |  |  |  |
Aggregated intrinsic value of options exercisable at March 31, 2024 (1) |  | $ | 2,246,543 |  |  |  |  |  |  | $ | 3,146,491 |  |  |  |  |
(1) |  | The Company used a stock price of $7.91 as of March 31, 2024 to derive intrinsic value.
(2) |  | Adjusted for the effect of annual stock dividends.
Schedule of Activity Restricted Stock Units | Activity of the RSUs during the three month period ended March 31, 2025, is summarized as follows: Schedule of Activity Restricted Stock Units
|  | Number of Class A Shares |  |  | Weighted Average Grant Date Fair Value |
Non-vested at December 31, 2024 |  |  | 12,813 |  |  | $ | 12.90 |
Granted |  |  | - |  |  |  |  |
Vested |  |  | (460 | ) |  |  |  |
Non-vested at March 31, 2025 |  |  | 12,353 |  |  | $ | 13.08 |
Available RSUs for future grant |  |  | 4,187 |  |  |  |  |
Activity of the RSUs during the three month period ended March 31, 2024, is summarized as follows:
|  | Number of Class A Shares |  |  | Weighted Average Grant Date Fair Value |
Non-vested at December 31, 2023 |  |  | 2,245 |  |  | $ | 7.72 |
Granted |  |  | - |  |  |  |  |
Vested |  |  | (405 | ) |  |  |  |
Non-vested at March 31, 2024 |  |  | 1,840 |  |  | $ | 7.99 |
Available RSUs for future grant |  |  | 16,540 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration