SECURITY NATIONAL FINANCIAL CORP — Director's Dealing 2012

May 25, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SECURITY NATIONAL FINANCIAL CORP (SNFCA)
CIK: 0000318673
Period of Report: 2012-04-13

Reporting Person: Stephens Jeffrey Russell (Senior V.P. of Operations)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-12-05	Employee Stock Option (right to buy)	$1.23	A	1216	Acquired	2018-12-05	Class A Common Stock (1216)	Direct
2009-12-04	Employee Stock Option (right to buy)	$3.04	A	5789	Acquired	2019-12-10	Class A Common Stock (5789)	Direct
2010-12-03	Employee Stock Option (right to buy)	$1.66	A	5513	Acquired	2020-12-03	Class A Common Stock (5513)	Direct
2011-12-02	Employee Stock Option (right to buy)	$1.24	A	5250	Acquired	2021-12-03	Class A Common Stock (5250)	Direct
2012-04-13	Employee Stock Option (right to buy)	$1.56	A	5000	Acquired	2022-04-13	Class A Common Stock (5000)	Direct

Footnotes

F1: This option was originally reported as an option for 1,000 shares of Class A Common Stock at an exercise price of $1.50 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.

F2: This option was originally reported as an option for 5,000 shares of Class A Common Stock at an exercise price of $3.52 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.

F3: This option was originally reported as an option for 5,000 shares of Class A Common Stock at an exercise price of $1.83 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 3, 2012.

F4: This option was granted on December 2, 2011 as an option for 5,000 shares of Class A Common Stock at an exercise price of $1.30 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. This option vests in four equal quarterly installments of Class A Common Stock, beginning on March 31, 2012, until such shares are fully vested.

F5: This option was granted on April 14, 2012 as an option for 5,000 shares of Class A Common Stock at an exercise price of $1.56 per share. This option vests in four equal quarterly installments of Class A Common Stock, beginning on September 30, 2012, until such shares are fully vested.