v3.26.1
Stock Compensation Plans (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Activity of Stock Option Plans

The activity of the Plans during the three-month period ended March 31, 2026, 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, 2025   760,838   $6.85    2,366,291   $7.54 
Granted   7,500         -      
Exercised   (1,051)        -      
Cancelled   (6,598)        -      
Outstanding at March 31, 2026   760,689   $6.88    2,366,291   $7.54 
                     
As of March 31, 2026:                    
Options exercisable   557,659   $6.28    1,860,534   $7.26 
                     
As of March 31, 2026:                    
Available options for future grant   1,896,335         4,207      
                     
Weighted average contractual term of options                    
outstanding at March 31, 2026   6.64 years         6.75 years      
                     
Weighted average contractual term of options                    
exercisable at March 31, 2026   5.54 years         5.99 years      
                     
Aggregated intrinsic value of options                    
outstanding at March 31, 2026 (1)  $2,136,093        $5,659,342      
                     
Aggregated intrinsic value of options                    
exercisable at March 31, 2026 (1)  $1,952,408        $5,192,461      

 

 

(1) The Company used a stock price of $9.48 as of March 31, 2026 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, 2026 (Unaudited)

 

18) Stock Compensation Plans (Continued)

 

The activity of the 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.
Schedule of Activity Restricted Stock Units

Activity of the RSUs during the three-month period ended March 31, 2026, is summarized as follows:

 

   Number of
Class A Shares		   Weighted Average Grant Date Fair Value 
Non-vested at December 31, 2025   17,568   $9.33 
Granted   -      
Vested   (3,087)     
Non-vested at March 31, 2026   14,481   $8.53 
           
Available RSUs for future grant   489,706      

 

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