Edgar Filing: QUIST SCOTT M

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

QUIST SCOTT M

2. Issuer Name and Ticker or Trading Symbol
SECURITY NATIONAL FINANCIAL CORP [SNFCA]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	__X__ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President, C.O.O.

(Last)

(First)

(Middle)

7 WANDERWOOD WAY

3. Date of Earliest Transaction (Month/Day/Year)
04/13/2012

(Street)

SANDY, UT 84092

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 3.8 ⁽¹⁾

03/21/2003

108,593 ⁽¹⁾

03/21/2003

03/21/2013

Class A Common Stock

108,593 ⁽¹⁾

$ 3.8 ⁽¹⁾

108,593 ⁽¹⁾

Employee Stock Option (right to buy)

$ 2.49 ⁽²⁾

03/25/2005

98,497 ⁽²⁾

03/25/2005

03/25/2015

Class A Common Stock

98,497 ⁽²⁾

$ 2.49 ⁽²⁾

98,497 ⁽²⁾

Employee Stock Option (right to buy)

$ 0.348 ⁽³⁾

03/31/2008

607,754 ⁽³⁾

03/31/2009

03/31/2013

Class C Common Stock

607,754 ⁽³⁾

$ 0.348 ⁽³⁾

607,754 ⁽³⁾

Employee Stock Option (right to buy)

$ 1.36 ⁽⁴⁾

12/05/2008

47,312 ⁽⁴⁾

12/05/2009

12/05/2013

Class A Common Stock

47,312 ⁽⁴⁾

$ 1.36 ⁽⁴⁾

47,312 ⁽⁴⁾

Employee Stock Option (right to buy)

$ 0.136 ⁽⁴⁾

12/05/2008

742,395 ⁽⁴⁾

12/05/2009

12/05/2013

Class C Common Stock

742,395 ⁽⁴⁾

$ 0.136 ⁽⁴⁾

742,395 ⁽⁴⁾

Employee Stock Option (right to buy)

$ 0.334 ⁽⁵⁾

12/04/2009

1,157,625 ⁽⁵⁾

03/31/2010

12/04/2014

Class C Common Stock

1,157,625 ⁽⁵⁾

$ 0.334 ⁽⁵⁾

1,157,625 ⁽⁵⁾

Employee Stock Option (right to buy)

$ 0.183 ⁽⁶⁾

12/03/2010

1,102,500 ⁽⁶⁾

03/31/2011

12/03/2015

Class C Commnon Stock

1,102,500 ⁽⁶⁾

$ 0.183 ⁽⁶⁾

1,102,500 ⁽⁶⁾

Employee Stock Option (right to buy)

$ 1.37 ⁽⁷⁾ ⁽⁸⁾

12/02/2011

105,000 ⁽⁷⁾ ⁽⁸⁾

03/31/2012

12/02/2016

Class A Common Stock

105,000 ⁽⁷⁾ ⁽⁸⁾

$ 1.37 ⁽⁷⁾ ⁽⁸⁾

105,000 ⁽⁷⁾ ⁽⁸⁾

Employee Stock Option (right to buy)

$ 1.72 ⁽⁹⁾

04/13/2012

100,000 ⁽⁹⁾

09/30/2012⁽⁹⁾

04/13/2017

Class A Common Stock

100,000 ⁽⁹⁾

$ 1.72 ⁽⁹⁾

100,000 ⁽⁹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
QUIST SCOTT M 7 WANDERWOOD WAY SANDY, UT 84092	X	X	President, C.O.O.

Signatures

/s/ Scott M Quist		05/25/2012
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This option was originally reported as an option for 70,000 shares of Class A Common Stock at an exercise price of $5.90 per share, but adjusted pursuant to the anti-dilution provisions of the 1993 Stock Option Plan to reflect 5% stock dividends paid on January 19, 2004, February 7, 2005, February 17, 2006, February 9, 2007, February 8, 2008, February 6, 2009, February 5, 2010, February 4, 2011 and February 3, 2012.
(2)	This option was originally reported as an option for 70,000 shares of Class A Common Stock at an exercise price of $3.51 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect 5% stock dividends paid on February 17, 2006, February 9, 2007, February 8, 2008, February 6, 2009, February 5, 2010, February 4, 2011 and February 3, 2012.
(3)	This option was originally granted as an option for either 50,000 shares of Class A Common Stock at an exercise price of $4.24 per share or 500,000 shares of Class C Common Stock at an exercise price of $0.424 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 500,000 shares of Class C Common Stock at an exercise price of $0.424 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect 5% stock dividends paid on February 6, 2009, February 5, 2010, February 4, 2011 and February 3, 2012.
(4)	This option was originally granted as an option for either 100,000 shares of Class A Common Stock at an exercise price of $1.65 per share or 1,000,000 shares of Class C Common Stock at an exercise price of $0.165 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 38,923 shares of Class A Common Stock at an exercise price of $1.65 per share and 610,770 shares of Class C Common Stock at an exercise price of $0.165 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect 5% stock dividends paid on February 6, 2009, February 5, 2010, February 4, 2011 and February 3, 2012.
(5)	This option was originally granted as an option for either 100,000 shares of Class A Common Stock at an exercise price of $3.87 per share or 1,000,000 shares of Class C Common Stock at an exercise price of $0.387 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 1,000,000 shares of Class C Common Stock at an exercise price of $0.387 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect 5% stock dividends paid on February 5, 2010, February 4, 2011 and February 3, 2012.
(6)	This option was originally granted as an option for either 100,000 shares of Class A Common Stock at an exercise price of $2.01 per share or 1,000,000 shares of Class C Common Stock at an exercise price of $0.201 per share, or any combination thereof. This option reflects the reporting person's election to have an option for 1,000,000 shares of Class C Common Stock at an exercise price of $0.201 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect 5% stock dividends paid on February 4, 2011 and February 12, 2012.
(7)	This option was granted on December 2, 2011 as an option for either 100,000 shares of Class A Common Stock at an exercise price of $1.43 per share or 1,000,000 shares of Class C Common Stock at an exercise price of $0.143 per share, or any combination thereof. Because there are only five shares of Class C Common Stock remaining to be issued under the 2003 Stock Option Plan, the reporting person cannot elect at this time the option for 1,000,000 shares of Class C Common Stock. Thus, this option reflects an option for 100,000 shares of Class A Common Stock at an exercise price of $1.43 per share, but adjusted pursuant to the anti-dilution provisions of the 2003 Stock Option Plan to reflect a 5% stock dividend paid on February 3, 2012.
(8)	This option vests in four equal quarterly installments, beginning on March 31, 2012, until such shares are fully vested. At such time as the Stock Option Plan is amended to provide for the issuance of an additional 1,000,000 shares of Class C Common Stock, the reporting person will elect to have the option for 1,000,000 shares of Class C Common Stock at an exercise price of $0.143 per share.
(9)	This option was granted as an option for either 100,000 shares of Class A Common Stock at an exercise price of $1.72 per share or 1,000,000 shares of Class C Common Stock at an exercise price of $0.172 per share, or any combination thereof. The option vests in four equal quarterly installments of Class A Common Stock, beginning on September 30, 2012, until such shares are fully vested.

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