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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:

 

   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:

 

   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