UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of Earliest Event Reported):
(Exact name of registrant as specified in this Charter)
| (State
or other jurisdiction of incorporation) |
(Commission
File Number) |
(IRS
Employer Identification No.) |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s
Telephone Number, Including Area Code:
Does Not Apply
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol | Name of exchange on which registered | ||
| The
|
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On June 27, 2023, Security National Financial Corporation issued the attached press release (Exhibit 99.1) announcing inclusion of its Class A Common Stock into the Russell 3000® Index.
The information contained in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 attached hereto) is furnished pursuant to General Instruction B.2. of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| EXHIBIT NO. | DESCRIPTION | |
| 99.1 | Press Release, dated June 27, 2023, entitled “Security National Financial Corporation to Join Russell 3000® Index” | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
| -2- |
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: June 27, 2023 | By: | /s/ Scott M. Quist |
| Scott M. Quist, Chairman, President and | ||
| Chief Executive Officer | ||
| -3- |
Exhibit 99.1
Security National Financial Corporation to Join Russell 3000® Index
On June 23, 2023, Security National Financial Corporation (the “Company”) announced that it is set to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution. The newly reconstituted Russell indexes became effective upon the opening of the Nasdaq National Market on June 26, 2023, according to a preliminary list of additions to the Russell 3000® Index, which was posted on May 19, 20230. Russell rebalances its indexes once each year in June, called “reconstitution.” The reconstitution consists of updating the global list of investable stocks and assigning them to the appropriate indexes.
The annual Russell indexes reconstitution captures the stocks of the 4,000 largest United States companies, ranking them by total market capitalization, which is based on the actual number of shares available for trading. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index. FTSE Russell, which is owned by the London Stock Exchange Group, determines membership for its Russell indexes primarily by market-capitalization rankings.
Russell indexes are a family of global stock market indices from FTSE Russell that allow investors to track the performance of distinct market segments worldwide. Many investors use mutual funds or exchange-related funds based on the FTSE Russell Indexes as a way of gaining exposure to certain parts of the U.S. stock market. Additionally, many investment managers use the Russell Indexes as benchmarks to measure their own performance. Russell’s index design has also led to more assets benchmarked to its U.S. index family than all other U.S. equity indexes combined.
Russell indexes began in 1984 when the firm launched its family of U.S. indices to measure U.S. market segments and, as a result, better track the performance of investment managers. The resulting methodology produced the broad-market Russell 3000® Index and sub-components such as the small-cap Russell 2000® Index. The broad-market U.S. Index is the Russell 3000® Index, which is divided into several sub-indexes, including the small-cap Russell 2000® Index. Using a rules-based and transparent process, Russell forms its indexes by listing all companies in descending order by market capitalization adjusted for float, which is the actual number of shares available for trading.
In the United States, the top 3000 stocks (those of the 3000 largest companies) make up the broad-market Russell 3000® Index. The top 1000 of those companies make up the large-cap Russell 1000® Index, and the bottom 2000 (the smaller companies) make up the small-cap Russell 2000® Index.