What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2023-03-31 compared with 2022-03-31 · 57 added, 62 removed, 5 unchanged (96% of the section changed)

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)

Period (Calendar Year)

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

First Quarter

Second Quarter

Third Quarter

Fourth Quarter

First Quarter (through March 22, 2022)

Market for the Registrant’s Common Stock, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Company’s Class A common stock trades on The Nasdaq Global Select Market under the symbol “SNFCA.” As of March 27,

2023, the closing stock price of the Class A common stock was $6.09 per share.

As of March 27, 2023, there were 1,801 registered stockholders

of record of the Company’s Class A common stock and 44 registered stockholders of record of the Company’s Class C common

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.

following were the high and low market closing stock prices for the Class A common stock by quarter as reported by NASDAQ since January

(Calendar Year)

Quarter (through March 27, 2023)

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.

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.

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.

(a) Total Number of Class A Shares Purchased

(b) Average Price Paid per Class A Share

(d) Maximum Number of Class A Shares that May Yet Be Purchased Under the Plan or Program

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 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

the years 2021 and 2022.

December 27, 2022, the Company executed a 10b5-1 agreement with a broker to repurchase the Company’s Class A Common Stock.

the terms of the agreement, the broker is permitted to repurchase up to $1,000,000 of the Company’s Class A Common Stock.

The agreement

is subject to the daily time, price and volume conditions of Rule 10b-18.

The initial term of the agreement is for one year and may be

amended with written consent.

The purchases under the 10b5-1 agreement are subject to the 2020 amended stock repurchase plan.

following table shows the Company’s repurchase activity of its common stock during the three months ended December 31, 2022 under

its Stock Repurchase Plan.

Total Number of Class A Shares Purchased

Average Price Paid per Class A Share (1)

Total Number of Class A Shares Purchased as Part of Publicly Announced Plan or Program

Maximum Number of Class A Shares that May Yet Be Purchased Under the Plan or Program (2)

10/1/2022-10/31/2022

1 unchanged sentence

12/1/2022-12/31/2022

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.

S & P Insurance

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.

reporting company, the Company is not required to provide information typically disclosed under this item.

fees and commissions paid on stock repurchases.

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.

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,

2018 through December 31, 2022.

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, 2018 and that all dividends were reinvested.

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.

& P Insurance

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.

a smaller reporting company, the Company is not required to provide information typically disclosed under this item.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity