SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* QUIST SCOTT M (Last) (First) (Middle) PO BOX 57220 (Street) SALT LAKE CITY UT 84157-0220 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol SECURITY NATIONAL FINANCIAL CORP [ nasdq ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) President
	3. Date of Earliest Transaction (Month/Day/Year) 06/27/2007
	4. If Amendment, Date of 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

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	01/19/2007		J(1)		9,317	A	$5.31	195,663(1)	D
Class C Common Stock	01/19/2007		J(1)		2,520	A	$5.31	52,913(1)	D
Class C Common Stock	06/27/2007		M		578,813	A	$0.31	631,726	D
Class A Common Stock	06/27/2007		F		30,750(2)	D	$5.81	164,913	D
Class C Common Stock	06/27/2007		M		578,813	A	$0.28	1,210,539(3)	D
Class A Common Stock	06/27/2007		F		27,589(2)	D	$5.81	137,324(3)	D

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 Securities Underlying Derivative Security (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: 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 (right to buy)	$4.81(4)	03/21/2003		A		85,085(4)		03/21/2003	03/21/2013	Class A Common Stock	85,085(4)	$4.81(4)	85,085(4)	D
Employee Stock Option (right to buy)	$3.17(5)	03/25/2005		A		77,175(5)		03/25/2005	03/25/2015	Class A Common Stock	77,175(5)	$3.17(5)	77,175(5)	D
Employee Stock Option (right to buy)	$0.31(6)	06/27/2007		M		578,813(6)		07/16/2004	07/16/2014	Class C Common Stock	578,813(6)	$0.31(6)	0	D
Employee Stock Option (right to buy)	$0.28(7)	06/27/2007		M		578,813(7)		12/10/2004	12/10/2014	Class C Common Stock	575,813(7)	$0.28(7)	0	D

Explanation of Responses:

1. Received pursuant to a 5% stock dividend paid on January 19, 2007.

2. Delivery of shares of Class A Common Stock to pay option exercise price pursuant to cashless exercise of options to purchase 578,813 shares of Class C Common Stock. The Class C common shares, which are not actively traded, may be converted into Class A common shares at one share of Class A Common Stock for ten shares of Class C Common Stock.

3. Owned jointly by the reporting person and his wife. Does not include 124,881 shares of Class A Common Stock and 230,519 shares of Class C Common Stock owned indirectly by the reporting person in the ESOP, Associated Investors, the 401(k) Plan and the Deferred Compensation Plan.

4. This option was originally reported as covering 70,000 shares of Class A Common Stock at an exercise price of $5.90 per share, but adjusted to reflect 5% stock dividends on January 5, 2004, January 22, 2005, January 20, 2006 and January 19, 2007.

5. This option was previously reported as covering 70,000 shares of Class A Common Stock at an exercise price of $3.51 per share, but adjusted to reflect the 5% stock dividend on January 20, 2006 and January 19, 2007.

6. This option was originally reported covering 500,000 shares of Class C Common Stock at an exercise price of $.36 per share, but adjusted to reflect 5% stock dividends on January 22, 2005, January 20, 2006 and January 19, 2007.

7. This option was originally reported as covering 500,000 shares of Class C Common stock at an exercise price of $.32 per share, but adjusted to reflect 5% stock dividends on January 22, 2005, January 20, 2006 and January 19, 2007.

	Quist, Scott M.	06/29/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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