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Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

6) Earnings Per Share

 

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

 

   2025   2024   2025   2024 
   Three Months Ended
September 30,		   Nine Months Ended
September 30,		 
   2025   2024   2025   2024 
Numerator:                    
Net earnings  $7,815,026   $11,831,444   $18,659,673   $26,577,515 
Denominator:                    
Basic weighted-average shares outstanding   24,709,518    24,418,679    24,725,938    24,465,661 
Effect of dilutive securities:                    
Employee stock options   691,927    853,399    828,239    731,352 
                     
Diluted weighted-average shares outstanding   25,401,445    25,272,078    25,554,177    25,197,013 
                     
Basic net earnings per share  $0.32   $0.48   $0.75   $1.09 
                     
Diluted net earnings per share  $0.31   $0.47   $0.73   $1.05 

 

For the nine-month periods ended September 30, 2025, and 2024, there were 403,514 and nil 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 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)   22,321,559    3,492,674 
           
Exercise of stock options   66,273    95,337 
Vesting of restricted stock units   6,639    - 
Conversion of Class C to Class A   774    (774)
           
Outstanding shares at September 30, 2025 (1)   22,395,245    3,587,237 
           
Outstanding shares at December 31, 2023 (1)   22,119,436    3,291,271 
           
Exercise of stock options   63,512    - 
Vesting of restricted stock units   1,325    - 
Conversion of Class C to Class A   266    (266)
           
Outstanding shares at September 30, 2024 (1)   22,184,539    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

September 30, 2025 (Unaudited)