15)
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:
Schedule of Earnings Per Share, Basic and Diluted
| | |
| | |
| |
| | |
Three Months Ended
March 31, | |
| | |
2026 | | |
2025 | |
| Numerator: | |
| | | |
| | |
| Net earnings | |
$ | 7,001,426 | | |
$ | 6,413,735 | |
| Denominator: | |
| | | |
| | |
| Basic weighted-average shares outstanding | |
| 24,818,596 | | |
| 24,699,405 | |
| Effect of dilutive securities: | |
| | | |
| | |
| Employee stock options | |
| 721,312 | | |
| 992,242 | |
| Unvested restricted stock units | |
| 749 | | |
| - | |
| | |
| | | |
| | |
| Diluted weighted-average shares outstanding | |
| 25,540,657 | | |
| 25,691,647 | |
| | |
| | | |
| | |
| Basic net earnings per share | |
$ | 0.28 | | |
$ | 0.26 | |
| | |
| | | |
| | |
| Diluted net earnings per share | |
$ | 0.27 | | |
$ | 0.25 | |
For
the three-month periods ended March 31, 2026, and 2025, there were 402,994 and 382,700 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.
SECURITY
NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES
Notes to Condensed Consolidated Financial Statements
March 31, 2026 (Unaudited)
|