John P. Nelson Reports 19,175-Share Disposal in ATLO Form 4

Rhea-AI Filing Summary

John P. Nelson, President and director of Ames National Corp (ticker ATLO), reported changes in his beneficial ownership on a Form 4 covering transactions dated 09/15/2025. The filing records a disposition of 19,175 shares of common stock and shows 19,175 shares beneficially owned following the reported transaction(s). The form also discloses that 623 shares were acquired through dividend reinvestment in the employee 401(k) plan during the period from January 1, 2025 through September 15, 2025. The filing is signed by John P. Nelson on 09/17/2025.

Positive

• Disclosure compliance: Form 4 was filed and signed, providing transparent reporting of insider activity.
• Dividend reinvestment: 623 shares were acquired through the employee 401(k) dividend reinvestment program, showing participation in company plans.

Negative

• Large disposition: The reporting person disposed of 19,175 shares, reducing insider ownership by that amount.
• Missing transaction price and rationale: The filing does not state the sale price or explain the reason for the disposition, limiting context for investors.

Insights

Financial Analyst

TL;DR: Insider reported a sizeable sale leaving 19,175 shares held; modest dividend reinvestment added 623 shares.

The Form 4 documents a disposal of 19,175 common shares by John P. Nelson, who remains a named insider as both President and director. The filing separately notes 623 shares were acquired via dividend reinvestment in the company 401(k) during the stated period. The disclosure provides clear quantities and dates but does not state the transaction price or the reason for the disposition, limiting interpretation of economic impact. For investors, the filing is a factual update to insider holdings rather than an explanatory disclosure.

Corporate Governance Expert

TL;DR: Routine insider reporting completed; transaction details are factual but lack context on motivation or timing.

The Form 4 is properly executed and identifies the reporting person, relationship to the issuer, transaction date, and resulting beneficial ownership. It notes dividend reinvestment activity in the employee savings plan and records the disposition amount. From a governance perspective, the filing meets Section 16 reporting requirements, but it does not provide contextual information (e.g., whether the disposition was pre-arranged or part of a trading plan), which limits governance-readers' ability to assess intent.

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

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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^*

NELSON JOHN PATRICK

(Last) (First) (Middle)

POST OFFICE BOX 846

(Street)

AMES IA 50010

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMES NATIONAL CORP [ ATLO ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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
Common Stock								19,175	D(1)

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

Explanation of Responses:

1. 623 shares were acquired pursuant to dividend reinvestment purchases in the employee savings plan 401(k) during the period from January 1, 2025, through September 15, 2025.

	John P Nelson	09/17/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did John P. Nelson report on the Form 4 for ATLO?

The Form 4 reports a disposition of 19,175 common shares with transactions dated 09/15/2025 and shows 19,175 shares beneficially owned following the reported transaction(s).

When were the transactions and when was the Form 4 signed?

Transactions are dated 09/15/2025 and the Form 4 is signed by John P. Nelson on 09/17/2025.

Did the filing show any acquisitions during the period?

Yes. The filing discloses that 623 shares were acquired pursuant to dividend reinvestment in the employee 401(k) plan between January 1, 2025 and September 15, 2025.

What roles does the reporting person hold at Ames National Corp (ATLO)?

The reporting person, John P. Nelson, is identified as both a Director and President of Ames National Corp.

Does the Form 4 state the sale price or reason for the disposition?

No. The filing does not provide the transaction price or an explanation for the disposition.