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Stock Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Activity of Stock Option Plans

The activity of the Plans during the nine-month period ended September 30, 2025, is summarized as follows:

Schedule of Activity of Stock Option Plans

		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			$	5.63				1,724,400			$	6.87
Adjustment for the effect of stock dividends			27,898								80,571
Granted			24,000								-
Exercised			(112,735	)							(113,023	)
Cancelled			(18,462	)							-
Outstanding at September 30, 2025			567,295			$	5.77				1,691,948			$	7.13
As of September 30, 2025:
Options exercisable			548,470			$	5.55				1,609,452			$	9.05
As of September 30, 2025:
Available options for future grant			2,164,542								678,550
Weighted average contractual term of options
outstanding at September 30, 2025			4.92 years								6.14 years
Weighted average contractual term of options
exercisable at September 30, 2025			4.77 years								6.00 years
Aggregated intrinsic value of options
outstanding at September 30, 2025 (1)		$	1,647,183							$	2,607,971
Aggregated intrinsic value of options
exercisable at September 30, 2025 (1)		$	1,710,565							$	2,926,771

(1) The Company used a stock price of $8.67 as of September 30, 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

September 30, 2025 (Unaudited)

5) Stock Compensation Plans (Continued)

The activity of the Plans during the nine-month period ended September 30, 2024, 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, 2023			833,570			$	4.91				1,520,062			$	5.57
Adjustment for the effect of stock dividends			38,724								76,005
Granted			16,500								-
Exercised			(88,714	)							-
Cancelled			(17,333	)							-
Outstanding at September 30, 2024			782,747			$	5.16				1,596,067			$	5.57
As of September 30, 2024:
Options exercisable			751,872			$	5.05				1,519,817			$	5.46
As of September 30, 2024:
Available options for future grant			39,006								556,238
Weighted average contractual term of options
outstanding at September 30, 2024			4.91 years								5.74 years
Weighted average contractual term of options
exercisable at September 30, 2024			4.73 years								5.63 years
Aggregated intrinsic value of options
outstanding at September 30, 2024 (1)		$	3,165,305							$	5,793,310
Aggregated intrinsic value of options
exercisable at September 30, 2024 (1)		$	3,119,776							$	5,676,723

(1) The Company used a stock price of $9.20 as of September 30, 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 nine-month period ended September 30, 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			(6,639	)
Non-vested at September 30, 2025			6,174			$	13.08
Available RSUs for future grant			504,187

Activity of the RSUs during the nine-month period ended September 30, 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			(1,325	)
Non-vested at September 30, 2024			920			$	7.99
Available RSUs for future grant			16,540

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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

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-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
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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.

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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)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
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