SECURITY NATIONAL FINANCIAL CORP
For the period ended Mar 31, 2025. Filed May 15, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Recent Sales of Unregistered Securities and Use of Proceeds from Registered Securities
None.
Issuer Purchases of Equity Securities
On April 22, 2025 the Company executed a 10b5-1 agreement with a broker to repurchase shares of the Company’s Class A Common Stock. Under the terms of the agreement, the broker is permitted to repurchase up to $1,000,000 of the Company’s Class A Common Stock. Purchases commenced April 23, 2025. The agreement is subject to the daily time, price and volume conditions of Rule 10b-18. The agreement will expire on December 31, 2025. No share repurchases were made by or on behalf of the Company during the three months ended March 31, 2025.
The following table shows the Company’s repurchase activity during the three-month period ended March 31, 2025 under the 10b5-1 agreement.
| Period · (a) Total Number of Class A Shares Purchased · (b) Average Price Paid per Class A Share (1) · (c) Total Number of Class A Shares Purchased as Part of Publicly Announced Plan or Program · (d) Maximum Number (or Approximate Dollar Value) of Class A Shares that May Yet Be Purchased Under the Plan or Program (2) | |||||
|---|---|---|---|---|---|
| 1/1/2025-1/31/2025 | - | $ | - | - | 194,612 |
| 2/1/2025-2/28/2025 | - | - | - | 194,612 | |
| 3/1/2025-3/31/2025 | - | - | - | 194,612 | |
| Total | - | $ | - | - | 194,612 |
| (1) | Includes fees and commissions paid on stock repurchases. |
| (2) | In September 2018, the Board of Directors of the Company approved a Stock Repurchase Plan that authorized the repurchase of 300,000 shares of the Company’s Class A Common Stock in the open market. The Company amended the Stock Repurchase Plan on December 4, 2020. The amendment authorized the repurchase of a total of 1,000,000 shares of the Company’s Class A Common Stock in the open market. Any repurchased shares of Class A common stock are to be held as treasury shares to be used as the Company’s employer matching contribution to the Employee 401(k) Retirement Savings Plan and for shares held in the Deferred Compensation Plan. |
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