snfca8k.htm


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549




FORM 8-K




CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934



Date of Report (Date of Earliest Event Reported): July 2, 2014



    SECURITY NATIONAL FINANCIAL CORPORATION
(Exact name of registrant as specified in this Charter)



 
 Utah  000-09341  87-0345941
 (State or other jurisdiction of incorporation)  (Commission File Number)  (IRS Employer Identification No.)
 
 
 5300 South 360 West, Salt Lake City, Utah   84123
 (Address of principal executive offices)   (Zip Code)
 

Registrant's Telephone Number, Including Area Code:  (801) 264-1060


 


 Does Not Apply
(Former name or former address, if changed since last report)
 
 
 
 
Item 5.07. Submission of Matters to a Vote of Security Holders

The Annual Meeting of Stockholders (the “Annual Meeting”) of Security National Financial Corporation (the “Company”) was held on July 2, 2014, in Salt Lake City, Utah.  As of the record date, there were issued and outstanding 11,844,678 shares of Class A common stock and 13,294,792 shares of Class C common stock, for a combined total of 25,139,470 Class A and Class C common shares.  At the Annual Meeting there were present or represented by proxy a total of 8,478,267 Class A common shares (approximately 72%) and 13,012,792 Class C common shares (approximately 98%), for a combined total of 21,491,059 Class A and Class C common shares (approximately 85%).  Accordingly, under the Company’s Bylaws and the Utah Revised Business Corporation Act, the combined total of Class A and Class C common shares was a majority of the outstanding shares of Class A and Class C common stock and constituted a quorum for the Annual Meeting.

At the Annual Meeting, the Company’s stockholders (i) approved the election of Scott M. Quist, Robert G. Hunter, M.D., H Craig Moody, J. Lynn Beckstead, Jr., John L. Cook, Gilbert A. Fuller, Jason G. Overbaugh, S. Andrew Quist and Norman G. Wilbur as directors of the Company; (ii) approved, on an advisory basis, the compensation of the Company’s named executive officers; (iii) approved the adoption of the Company’s 2014 Director Stock Option Plan and the reservation of 150,000 shares of Class A common stock to be available for issuance under the plan; (iv) approved an amendment to the Company’s Articles of Incorporation to effect a 1-for-10 reverse stock split and weighted voting of the Company’s Class C common stock; (v) approved an amendment to the Company’s Articles of Incorporation to decrease the Company’s authorized capital stock from 45,000,000 shares to 32,000,000 shares by decreasing the number of authorized shares of Class C common stock from 15,000,000 shares to 2,000,000 shares; and (vi) ratified the appointment of Eide Bailey LLC as the Company’s independent registered public accountants for the fiscal year ending December 31, 2014.

The results of the voting on the matters submitted to the stockholders were as follows:

1.  To elect three directors to be voted upon by Class A common stockholders voting separately as a class to serve until the 2015 Annual Meeting and until their successors are duly elected and qualified.

 
Name
 
Class
 
Votes For
 
Votes Against
 
Votes Abstaining
 
Scott M. Quist
Robert G. Hunter, M.D.
H. Craig Moody
 
Class A
Class A
Class A
 
5,827,979
5,831,742
5,826,067
 
236,919
233,156
238,831
 
       –
        –  
        –  

2.  To elect the remaining six directors to be voted upon by Class A and Class C common stockholders together to serve until the 2015 Annual Meeting and until their successors are duly elected and qualified.

 
Name
 
J. Lynn Beckstead, Jr.
 
 
 
John L. Cook
 
 
 
Gilbert A. Fuller
 
 
  Class
 
Class A
Class C
   Total
 
Class A
Class C
   Total
 
Class A
Class C
   Total
 
 Votes For
 
  5,815,227
13,012,748
18,827,975
 
  5,831,742
13,012,748
18,844,490
 
  5,831,695
13,012,748
18,844,443
 
Votes Against
 
249,671
         44
249,715
 
233,156
         44
233,200
 
233,203
         44
233,247
 
  Votes Abstaining
 
       –
        –  
        –  
 
       –
        –  
       –
 
       –
        –  
       –

 
 
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Jason G. Overbaugh
 
 
 
S. Andrew Quist
 
 
Norman G. Wilbur
 
 
Class A
Class C
   Total
 
Class A
Class C
   Total
 
Class A
Class C
   Total
 
  5,816,061
13,012,748
18,828,809 
 
  5,812,977
  3,012,748
18,825,725 
 
  5,307,966
13,012,748
18,320,714 
 
248,837
         44
248,881
 
251,921
         44
251,965 
 
756,932
         44
756,976
 
       –
        –  
        –  
 
       –
        –  
       –
 
       –
        –
       –

3.  To approve, on an advisory basis, the compensation of the Company’s named executive officers.

 
Class
 
Votes For
 
Votes Against
 
Votes Abstaining
 
Class A
Class C
 Total
 
  5,778,999
13,000,660
18,779,659
 
253,845
          –
253,845
 
32,055
12,132
44,187

4.  To approve the adoption of the Company’s 2014 Director Stock Option Plan and the reservation of 150,000 shares of Class A common stock to be made available for issuance under the plan.

 
Class
 
Votes For
 
Votes Against
 
Votes Abstaining
 
Class A
Class C
 Total
 
  5,723,134
13,005,634
18,728,768
 
321,614
          – 
321,614
 
20,151
 7,158
27,309

5.  To approve an amendment to the Company’s Articles of Incorporation to effect a 1- for -10 reverse stock split and weighted voting of the Company’s Class C common stock.


 
Class
 
Votes For
 
Votes Against
 
Votes Abstaining
 
Class A
Class C
 Total
 
  8,235,184
13,009,191
21,244,375
 
227,306
         –  
227,306
 
15,773
  3,601
19,374

6.  To approve an amendment to the Company’s Articles of Incorporation to decrease the Company’s authorized capital stock from 45,000,000 shares to 32,000,000 shares by decreasing the number of authorized shares of Class C common stock from 15,000,000 shares to 2,000,000 shares.

 
Class
 
Votes For
 
Votes Against
 
Votes Abstaining
 
Class A
Class C
 Total
 
  8,250,697
13,005,634
21,256,331
 
191,979
         –  
191,979
 
35,587
  7,158
42,745


7.  To ratify the appointment of Eide Bailey LLC as the Company’s independent registered public accountants for the fiscal year ended December 13, 2014.


 
- 3 -
 

 
Class
 
Votes For
 
Votes Against
 
Votes Abstaining
 
Class A
Class C
   Total
 
  8,238,790
13,004,217
21,243,007
 
209,848
    4,974
214,822
 
 29,628
    3,601
  33,229

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
   SECURITY NATIONAL FINANCIAL CORPORATION
                                       Registrant)
   
   
 Date: July 15, 2014  By: /s/ Scott M. Quist
         Scott M. Quist, President
   
 
 
 


     
                                           
 
 
 
 
 

 
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