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Earnings Per Share
 6 Months Ended
Jun. 30, 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:

 

                 
   Three Months Ended June 30,   Six Months Ended June 30, 
   2025   2024   2025   2024 
Numerator:                    
Net earnings  $6,506,355   $7,271,549   $10,844,647   $14,746,071 
Denominator:                    
Basic weighted-average shares outstanding   24,767,601    24,474,232    24,733,733    24,490,545 
Effect of dilutive securities:                    
Employee stock options   761,460    605,328    889,495    696,293 
Diluted weighted-average shares outstanding   25,529,061    25,079,560    25,623,228    25,186,838 
                     
Basic net earnings per share  $0.26   $0.30   $0.44   $0.60 
                     
Diluted net earnings per share  $0.25   $0.29   $0.42   $0.59 

 

For the six month periods ended June 30, 2025 and 2024, there were 416,539 and 143,456 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 (1)   22,321,422    3,492,672 
           
Exercise of stock options   66,273    95,337 
Vesting of restricted stock units   3,547    - 
Conversion of Class C to Class A   395    (395)
           
Outstanding shares at June 30, 2025 (1)   22,391,637    3,587,614 
           
Outstanding shares at December 31, 2023 (1)   22,119,299    3,291,271 
           
Exercise of stock options   32,082    - 
Vesting of restricted stock units   865    - 
Conversion of Class C to Class A   266    (266)
           
Outstanding shares at June 30, 2024 (1)   22,152,512    3,291,005 

 

 

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

 

 

SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

June 30, 2025 (Unaudited)