Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
SECURITY NATIONAL FINANCIAL CORPORATION
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
814785309
(CUSIP Number)
December 31, 2019
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which the Schedule is filed:
| [ ] |
Rule 13d-1(b)
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| [ ] |
Rule 13d-1(c)
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| [x] |
Rule 13d-1(d)
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* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| 1 |
NAMES OF REPORTING PERSONS
Scott M. Quist
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP * (a) G
(b) G
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A. Citizen
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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5
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SOLE VOTING POWER
Class A common stock – 0 shares (1)
Class C common stock – 1,242,797 shares (2)(3)
(Class C common stock is convertible into Class A common stock at the ratio of one share of Class C common stock to one share of Class A common stock)
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6
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SHARED VOTING POWER
Class A common stock – 3,434,135 shares
(2,024,565 shares as trustee of issuer’s 401(k) Retirement Savings Plan; 495,618 shares as trustee of issuer’s Employee Stock Ownership Plan (ESOP); 832,917 shares as
trustee of issuer’s Non-Qualified Deferred Compensation Plan; and 81,035 shares as managing partner of Associated Investors)
Class C common stock – 434,018 shares (2)(3)
(307,491 shares as trustee of issuer’s Employee Stock Ownership Plan (ESOP) and 126,527 shares as managing partner of Associated Investors)
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7
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SOLE DISPOSITIVE POWER
Class A common stock – 0 shares (1)
Class C common stock – 1,242,797 shares (2)
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8
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SHARED DISPOSITIVE POWER
Class A common stock – 3,434,135 shares
(2,024,565 shares as trustee of issuer’s 401(k) Retirement Savings Plan; 495,618 shares as trustee of issuer’s Employee Stock Ownership Plan (ESOP); 832,917 shares as
trustee of issuer’s Non-Qualified Deferred Compensation Plan; and 81,035 shares as managing partner of Associated Investors)
Class C common stock – 434,018 shares
(307,491 shares as trustee of issuer’s Employee Stock Ownership Plan (ESOP) and 126,527 shares as managing partner of Associated Investors)
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 shares of Class A common stock and 1,242,797 shares of Class C common stock (Class C common stock is convertible into Class A common stock at the ratio of one share of Class C common stock
to one share of Class A common stock)
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10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
Not applicable.
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Class A common stock – 8.1% (1) (4); Class C common stock – 55.1% (2)
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12
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TYPE OF REPORTING PERSON
IN
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| (1) |
Does not include a total of 336,206 shares of Class A common stock owned indirectly by the reporting person, which consists of 233,192 shares of Class A common stock in the 401(k) Retirement Savings Plan, 6,197
shares of Class A common stock for the Employee Stock Ownership Plan (ESOP), and 96,817 shares of Class A common stock in the Non-Qualified Deferred Compensation Plan, as to which the reporting person exercises shared voting and
dispositive powers.
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| (2) |
Does not include a total of 105,690 shares of Class C common stock owned indirectly by the reporting person, which consists of 68,020 shares of Class C common stock in the Employee Stock Ownership Plan (ESOP)
and 37,670 shares of Class C common stock in Associated Investors, as to which the reporting person exercises shared voting and dispositive powers.
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| (3) |
Each share of Class C common stock has ten votes. Thus, 1,242,797 shares of Class C common stock have 12,427,970 votes.
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| (4) |
Assumes that 1,242,797 shares of Class C common stock that the reporting person beneficially owns and 105,690 shares of Class C common stock that the reporting person indirectly owns are converted into a total
of 1,348,437 shares of Class A common stock, which would result in the reporting person becoming the beneficial owner of 1,348,437 shares of Class A common stock, or 8.1% of the then outstanding shares of Class A common stock.
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Item 1.
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(a)
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Name of Issuer
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Security National Financial Corporation
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(b)
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Address of Issuer's Principal Executive Offices
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5300 South 360 West, Suite 250
Salt Lake City, Utah 84123
Item 2.
| (a) |
Name of Person Filing
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Scott M. Quist
| (b) |
Address of Principal Business Office or, if none, Residence
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5300 South 360 West, Suite 250
Salt Lake City, Utah 84123
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(c)
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Citizenship
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Mr. Quist is a U.S.A. citizen.
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(d)
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Title of Class of Securities
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Class A Common Stock
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(e)
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CUSIP Number
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814785309
Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
Not applicable.
| (a) ___ |
Broker or Dealer registered under Section 15 of the Act
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| (b) ___ |
Bank as defined in Section 3(a)(6) of the Act
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| (c) ___ |
Insurance Company as defined in Section 3(a)(19) of the Act
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| (d) ___ |
Investment Company registered under Section 8 of the Investment Company Act of 1940.
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| (e) ___ |
An investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E)
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(f)___
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An employee benefit plan, or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F)
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(g)___
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A parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G)
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(h)___
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A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813)
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(i)___
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A church plan that is excluded from the definition of an investment company under Section 3(6)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3)
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| (j) ___ |
Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)
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Item 4. Ownership
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
| (a) |
Amount Beneficially Owned as of December 31, 2019
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Scott M. Quist: 0 shares of Class A common stock (1)
1,242,797 shares of Class C common stock (2)
(Class C common stock is convertible into Class A common stock at the ratio of one share of Class C common stock to one share of Class A common
stock)
| (b) |
Percent of Class
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Class A common stock – 8.1% (1) (4)
Class C common stock – 55.1% (2)
| (c) |
Number of shares as to which such person has:
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| (i) |
sole power to vote or to direct the vote:
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Class A common stock – 0 shares (1)
Class C common stock – 1,242,797 shares (2) (3)
(Class C common stock is convertible into Class A common stock at the ratio of one share of Class C common stock to one share of Class A common stock)
| (ii) |
shared power to vote or to direct the vote:
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Class A common stock – 3,434,136 shares (2,024,565 shares as trustee of issuer’s 401(k) Retirement Savings Plan; 495,618 shares as trustee of issuer’s Employee
Stock Ownership Plan (ESOP); 832,917 shares as trustee of issuer’s Non-Qualified Deferred Compensation Plan; and 81,035 shares as managing partner of Associated Investors)
Class C common stock – 434,018 shares (307,491 shares as trustee of issuer's Employee Stock Ownership Plan (ESOP) and 126,527 shares as managing partner of
Associated Investors) (2)(3)
| (iii) |
sole power to dispose or to direct the disposition of:
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Class A common stock – 0 shares (1)
Class C common stock – 1,242,797 shares (2)
| (iv) |
shared power to dispose or to direct the disposition of:
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Class A common stock – 3,434,135 shares (2,024,565 shares as trustee of issuer’s 401(k) Retirement Savings Plan; 495,618 shares as trustee of issuer’s Employee
Stock Ownership Plan (ESOP); 832,917 shares as trustee of issuer’s Non-Qualified Deferred Compensation Plan; and 81,035 shares as managing partner of Associated Investors)
Class C common stock – 434,018 shares (307,491 shares as trustee of issuer's Employee Stock Ownership Plan (ESOP) and 126,527 shares as managing partner of
Associated Investors)
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(1)
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Does not include a total of 336,206 shares of Class A common stock owned indirectly by the reporting person, which consists of
233,192 shares of Class A common stock in the 401(k) Retirement Savings Plan, 6,197 shares of Class A common stock for the Employee Stock Ownership Plan (ESOP), and 96,817 shares of Class A common stock in the Non-Qualified Deferred
Compensation Plan, as to which the reporting person exercises shared voting and dispositive powers.
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| (2) |
Does not include a total of 105,690 shares of Class C common stock owned indirectly by the reporting person, which consists of 68,020 shares of Class C common stock in the Employee Stock Ownership Plan (ESOP)
and 37,670 shares of Class C common stock in Associated Investors, as to which the reporting person exercises shared voting and dispositive powers.
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| (3) |
Each share of Class C common stock has ten votes. Thus, 1,242,797 shares of Class C common stock have 12,427,970 votes.
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| (4) |
Assumes that 1,242,797 shares of Class C common stock that the reporting person beneficially owns and 105,690 shares of Class C common stock that the reporting person indirectly owns are converted into a total
of 1,348,437 shares of Class A common stock, which would result in the reporting person becoming the beneficial owner of 1,348,437 shares of Class A common stock, or 8.1% of the then outstanding shares of Class A common stock.
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| Item 5. |
Ownership of Five Percent or Less of a Class
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If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent
of the class of securities, check the following [ ].
| Item 6. |
Ownership of More than Five Percent on Behalf of Another Person
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Not applicable.
| Item 7. |
Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company
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Not applicable.
| Item 8. |
Identification and Classification of Members of the Group
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Not applicable.
| Item 9. |
Notice of Dissolution of Group
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Not applicable.
| Item 10. |
Certification
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By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were
not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: January 28, 2019
/s/ Scott M. Quist
Scott M. Quist