Edgar Filing: SILL STEPHEN M

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

SILL STEPHEN M

2. Issuer Name and Ticker or Trading Symbol
SECURITY NATIONAL FINANCIAL CORP [SNFCA]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
V.P., TREASURER AND C.F.O.

(Last)

(First)

(Middle)

1595 NORTH FORT LANE

3. Date of Earliest Transaction (Month/Day/Year)
12/05/2008

(Street)

LAYTON, UT 84041

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/06/2009		J⁽¹⁾	V	1,716	A	$ 1.5	36,034 ⁽²⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy)

$ 3.67 ⁽³⁾

03/31/2008

7,875 ⁽³⁾

06/30/2008⁽³⁾

03/31/2018

Class A Common Stock

7,875 ⁽³⁾

$ 3.76 ⁽³⁾

7,875 ⁽³⁾

Employee Sotck Option (right to buy)

$ 1.43 ⁽⁴⁾

12/05/2008

7,875 ⁽⁴⁾

03/31/2009⁽⁴⁾

12/05/2018

Class A Common Stock

7,875 ⁽⁴⁾

$ 1.43 ⁽⁴⁾

7,875 ⁽⁴⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SILL STEPHEN M 1595 NORTH FORT LANE LAYTON, UT 84041			V.P., TREASURER AND C.F.O.

Signatures

/s/ Stephen M. Sill		06/01/2009
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Received pursuant to a 5% stock dividend paid on February 6, 2009.
(2)	Owned jointly by the reporting person and his wife. Does not include 40,461 shares of Class A Common Stock owned directly by the reporting person in the 401(k) Retirement Savings Plan, the Employee Stock Ownership Plan (ESOP), and the Deferred Compensation Plan.
(3)	This option was originally reported as covering 7,500 shares of Class A Common Stock at an exercise price of $3.85 per share, but adjusted to reflect a 5% stock dividend paid on February 6, 2009. This option vests in four equal quarterly installments of Class A Common Stock, beginning on June 30, 2008, until such shares are fully vested.
(4)	This option was granted on December 5, 2008 for 7,500 shares of Class A Common Stock at an exercise price of $1.50 per share, but adjusted to reflect a 5% stock dividend paid on February 6, 2009. This option vests in four equal quarterly installments of Class A Common Stock beginning on March 31, 2009, until such shares are fully vested.

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