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 *
Quist George R.
   2. Issuer Name and Ticker or Trading Symbol
SECURITY NATIONAL FINANCIAL CORP [SNFCA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman and CEO
(Last)
(First)
(Middle)
4491 WANDER LANE		 3. Date of Earliest Transaction (Month/Day/Year)
10/20/2011
(Street)

HOLLADAY, UT 84117		 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 10/20/2011   G V 50 D $ 0 1,066,586 D  
Class A Common Stock 01/12/2012   G V 100 D $ 0 1,066,486 D  
Class A Common Stock 01/12/2012   G V 50 D $ 0 1,066,436 D  
Class A Common Stock 01/12/2012   G V 50 D $ 0 1,066,386 D  
Class A Common Stock 01/12/2012   G V 200 D $ 0 1,066,186 D  
Class A Common Stock 02/03/2012   J(1) V 64,655 A $ 1.43 1,130,841 (2) D  
Class A Common Stock 02/03/2012   J(1) V 225,235 A $ 0.143 4,729,910 (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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option $ 3.48 (3) 03/31/2008   A   60,775 (3)   06/30/2008 03/31/2013 Class A Common Stock 60,775 (3) $ 3.48 (3) 60,775 (3) D  
Employee Stock Option (right to buy) $ 1.36 (4) 12/05/2008   A   121,551 (4)   03/31/2009 12/05/2013 Class A Common Stock 121,551 (4) $ 1.36 (4) 121,551 (4) D  
Employee Stock Options (right to buy) $ 3.34 (5) 12/04/2009   A   115,763 (5)   03/31/2010 12/04/2014 Class A Common Stock 115,763 (5) $ 3.34 (5) 115,763 (5) D  
Employee Stock Option (right to buy) $ 1.83 (6) 12/03/2010   A   110,250 (6)   03/31/2011 12/03/2015 Class A Common Stock 110,250 (6) $ 1.83 (6) 110,250 (6) D  
Employee Stock Option (right to buy) $ 1.37 (7) 12/02/2011   A   105,000 (7)   03/31/2011(7) 12/02/2015 Class A Common Stock 105,000 (7) $ 1.37 (7) 105,000 (7) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Quist George R.
4491 WANDER LANE
HOLLADAY, UT 84117		   X   X   Chairman and CEO  

Signatures

 /s/ George R. Quist   02/21/2012
**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 declared on December 2, 2011 and paid on February 3, 2012.
(2) Includes 687,191 shares of Class A Common Stock and 4,721,741 shares of Class C Common Stock owned by George R. and Shirley C. Quist Family Partnership, Ltd. Does not include 88,815 shares of Class A Common Stock and 559,880 shares of Class C Common Stock owned indirectly by the reporting person in the 401(k) Retirement Savings Plan, Associated Investors, and the Deferred Compensation Plan.
(3) This option was originally reported as an option for 50,000 shares of Class A Common Stock at an exercise price of $4.24 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.
(4) This option was originally reported as an option for 100,000 shares of Class A Common Stock at an exercise price of $1.65 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.
(5) This option was originally reported as an option for 100,000 shares of Class A Common Stock at an exercise price of $3.87 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.
(6) This option was originally reported as an option for 100,000 shares of Class A Common Stock at an exercise price of $2.01 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.
(7) This option was granted on December 2, 2011 as an option for 100,000 shares of Class A Common Stock at an exercise price of $1.43 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 25,000 shares of Class A Common Stock, beginning on March 31, 2012, until such shares are vested.

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