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Earnings Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

6) Earnings Per Share

 

Earnings per share amounts have been retroactively adjusted for the effect of annual stock dividends. In accordance with GAAP, the basic and diluted earnings per share amounts were calculated as follows:

 

   2025   2024 
   Three Months Ended
March 31,		 
   2025   2024 
Numerator:         
Net earnings  $4,338,292   $7,474,522 
Denominator:         
Basic weighted-average shares outstanding   23,521,451    23,325,136 
Effect of dilutive securities:         
Employee stock options   944,992   762,670 
Diluted weighted-average shares outstanding   24,466,443    24,087,806 
           
Basic net earnings per share  $0.18   $0.32 
           
Diluted net earnings per share  $0.18   $0.31 

 

For the three month periods ended March 31, 2025 and 2024, there were 382,700 and 467,125 anti-dilutive stock option shares, respectively, that were not included in the computation of diluted net earnings per common share as their effect would be anti-dilutive. Basic and diluted earnings per share amounts are the same for each class of common stock.

 

The following table summarizes the activity in shares of capital stock.

 

   Class A   Class C 
Outstanding shares at December 31, 2024   21,255,006    3,321,833 
           
Exercise of stock options   66,273    95,337 
Vesting of restricted stock units   460    - 
           
Outstanding shares at March 31, 2025   21,321,739    3,417,170 
           
Outstanding shares at December 31, 2023 (1)   21,052,883    3,120,432 
           
Vesting of restricted stock units   405    - 
Conversion of Class C to Class A   174    (174)
           
Outstanding shares at March 31, 2024 (1)   21,053,462    3,120,258 

 

 

(1)Adjusted retroactively for the effect of annual stock dividends

 

 

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

March 31, 2025 (Unaudited)