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Get filing alertsSecurity National Financial declares 5% stock dividend, elects nine directors at annual meeting
Filed June 29, 2026 · Period ending June 26, 2026 · ~1 min read
Key Changes
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Board authorized 5% stock dividend for shareholders of record July 10, payable July 17—the company's 38th consecutive year of stock dividends, providing holders flexibility to hold for appreciation or sell for cash.
Exhibit 99.1 view on EDGAR → -
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Shareholders approved equity plan amendment allowing up to 500,000 shares to be issued as Class C (ten votes per share) instead of Class A common stock, passing with 92.0% support.
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR → -
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All nine director nominees elected: Class A shareholders elected Scott M. Quist (77.6%), Gilbert A. Fuller (63.5%), and Adam G. Quist (77.4%); remaining six directors elected by both classes with 85.8%–93.2% support.
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR → -
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Say-on-pay vote passed with 90.6% overall support (69.2% among Class A shares alone), reflecting some Class A shareholder concern about executive compensation though comfortable overall given Class C's ten-to-one voting weight.
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR → -
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Shareholders ratified Deloitte & Touche as 2026 auditor with 99.97% support; meeting achieved 84.6% participation (22.0 million of 26.0 million shares outstanding).
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR →
Summary
Security National Financial held its 2026 annual meeting on June 26, reporting routine governance outcomes alongside a 5% stock dividend declaration. The stock dividend—the company's 38th consecutive year of this practice—will be distributed July 17 to shareholders of record July 10, continuing management's long-standing preference for equity-based returns that give holders flexibility to hold or sell.
The most notable governance item was approval of an equity plan amendment allowing up to 500,000 shares to be issued as Class C common stock (carrying ten votes per share) rather than Class A. This passed with 92.0% support and gives the board flexibility to grant equity compensation with enhanced voting rights. All nine director nominees were elected, though Class A shareholders showed lower support for Gilbert A.
Fuller (63.5%) compared to other nominees. The say-on-pay vote passed comfortably at 90.6% overall, though Class A shares alone supported it at 69.2%, suggesting some concern about executive pay levels that was outweighed by Class C's ten-to-one voting power. Auditor ratification was routine at 99.97%. For retail holders, the stock dividend continues a predictable pattern of equity-based returns. The equity plan amendment's shift toward Class C issuance warrants attention as it could concentrate voting power further if used for executive compensation, though the immediate impact is limited to 500,000 shares.
Section-by-Section Diff
Event · Item 5.07 — Submission of Matters to a Vote of Security Holders
SNFCA held its 2026 annual meeting, electing nine directors, approving equity plan amendment, and ratifying auditor.
Show 2 minor / wording changes
Added in current filing · verify on EDGAR →
To ratify the appointment of Deloitte & Touche, LLP as the Company’s independent registered public accountants for the fiscal year ending December 31, 2026:
Class Votes For Votes Against Votes Abstaining | Class A 18,558,858 17,847 1,942 | Class C 34,527,530 - - | Total 53,086,388 17,847 1,942
Shareholders ratified Deloitte & Touche, LLP as the company's independent auditor for fiscal 2026 with 99.97% of weighted votes cast in favor. This routine approval reflects no shareholder concerns about audit quality or independence.
Added in current filing · verify on EDGAR →
As of April 20, 2026, the record date, there were issued and outstanding 22,445,316 shares of Class A common stock (including 1,124,565 shares of treasury stock), $2.00 par value, and 3,587,237 shares of Class C common stock (including 104,604 shares of treasury stock), $2.00 par value, for a total of 26,032,553 shares of the Company’s common stock outstanding. A majority of the outstanding shares of Class A and Class C common stock (or 12,401,693 shares) constituted a quorum for the transaction of business at the Annual Meeting. The Annual Meeting met the quorum requirements. A total of 22,031,400 shares were represented in person or by proxy and voted at the Annual Meeting—18,578,647 shares of Class A common stock and 3,452,753 shares of Class C common stock—constituting in excess of majorities of each of those classes.
The annual meeting achieved quorum with 22,031,400 shares represented (84.6% of the 26,032,553 shares outstanding), including 82.8% of Class A shares and 96.3% of Class C shares. Strong participation across both share classes ensured all proposals had sufficient voting support to proceed.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
on June 26, 2026, its Board of Directors has authorized a 5% stock dividend for stockholders of record on July 10, 2026. The stock dividend will be issued on July 17, 2026.
The Board authorized a 5% stock dividend for shareholders of record on July 10, 2026, to be distributed on July 17, 2026. This is the company's 38th consecutive year declaring a stock dividend, indicating a long-standing practice of returning value to shareholders through equity rather than cash dividends.
Show 1 minor / wording change
Added in current filing · view on EDGAR →
This is the Company’s 38th consecutive year in declaring a stock dividend. We find many of our stockholders are pleased with the stock dividend due to the options it affords for long-term appreciation or cash flow if they choose to sell the shares.
CEO Scott Quist noted this marks 38 consecutive years of stock dividends, highlighting shareholder preference for this approach. The stock dividend provides shareholders flexibility to hold for appreciation or sell for cash flow, reflecting the company's consistent capital allocation strategy.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify