SECURITY NATIONAL FINANCIAL CORP 10-K

Item 5. Market for the Registrant’s Common Stock, Related Stockholder Matters, and Issuer Purchases of Equity Securities The Company’s Class A common stock trades on The Nasdaq Global Select Market under the symbol “SNFCA.” As of March 22, 2022, the closing stock price of the Class A common stock was $10.08 per share. As of March 22, 2022, there were 1,881 registered stockholders of record of the Company’s Class A common stock and 49 registered stockholders of record of the Company’s Class C common stock. Because many of the Company’s shares of Class A common stock are held by brokers and other institutions on behalf of the stockholders, the Company is unable to estimate the total number of stockholders represented by these record holders. The following were the high and low market closing stock prices for the Class A common stock by quarter as reported by NASDAQ since January 1, 2020: Price Range (1) High Low Period (Calendar Year) 2020 First Quarter $ 5.81 $ 3.49 Second Quarter $ 6.97 $ 3.82 Third Quarter $ 6.65 $ 5.29 Fourth Quarter $ 8.49 $ 6.11 2021 First Quarter $ 10.04 $ 8.08 Second Quarter $ 9.12 $ 7.41 Third Quarter $ 9.30 $ 8.06 Fourth Quarter $ 9.63 $ 8.20 2022 First Quarter (through March 22, 2022) $ 10.25 $ 8.96 (1) Stock prices have been adjusted retroactively for the effect of annual stock dividends. The Class C common stock is not registered or traded on a national exchange. See Note 12 of the Notes to Consolidated Financial Statements. The Company has never paid a cash dividend on its Class A or Class C common stock. The Company currently anticipates that all of its earnings will be retained for use in the operation and expansion of its business and does not intend to pay any cash dividends on its Class A or Class C common stock in the foreseeable future. Any future determination as to cash dividends will depend upon the earnings and financial position of the Company and such other factors as the Board of Directors may deem appropriate. The Company has paid a 5% stock dividend on Class A and Class C common stock each year from 1990 through 2019, a 7.5% stock dividend for year 2020, and a 5.0% stock dividend for year 2021. 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. The following table shows the Company’s repurchase activity of its common stock during the three months ended December 31, 2021 under its Stock Repurchase Plan. Period (a) Total Number of Class A Shares Purchased (b) Average Price Paid per Class A Share (c) Total Number of Class A Shares Purchased as Part of Publicly Announced Plan or Program (d) Maximum Number of Class A Shares that May Yet Be Purchased Under the Plan or Program 10/1/2021-10/31/2021 20,829 $ 8.36 - 669,923 11/1/2021-11/30/2021 65,109 $ 9.20 - 604,814 12/1/2021-12/31/2021 48,429 $ 8.81 - 556,385 Total 134,367 $ 8.80 - 556,385 16 The graph below compares the cumulative total stockholder return of the Company’s Class A common stock with the cumulative total return on the Standard & Poor’s 500 Stock Index and the Standard & Poor’s Insurance Index for the period from December 31, 2017 through December 31, 2021. The graph assumes that the value of the investment in the Company’s Class A common stock and in each of the indexes was $100 at December 31, 2017 and that all dividends were reinvested. The comparisons in the graph below are based on historical data and are not intended to forecast the possible future performance of the Company’s Class A common stock. 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 SNFC 100 103 123 189 219 S & P 500 100 94 121 140 178 S & P Insurance 100 114 99 125 156 The stock performance graph set forth above is required by the Securities and Exchange Commission and shall not be deemed to be incorporated by reference by any general statement incorporating by reference this Form 10-K into any filing under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, except to the extent that the Company specifically incorporates this information by reference, and shall not otherwise be deemed soliciting material or filed under such acts. 17 Item 6. [Reserved] As a smaller reporting company, the Company is not required to provide information typically disclosed under this item.