First National Corp (FXNC) director granted 1,113 FXNC shares, details family trust holdings
Rhea-AI Filing Summary
Smith Gerald F JR reported acquisition or exercise transactions in this Form 4 filing.
First National Corp (FXNC) director Gerald F. Smith Jr. received a grant of 1,113 shares of common stock on 2026-08-12 at $0.00 per share, bringing his directly held stake to 42,768 shares. In addition, he reports indirect holdings through several family trusts, where he or his spouse serves as trustee or co-trustee. For one irrevocable trust holding 900 shares for his daughter, he expressly disclaims beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,113 shares
Net Buy
7 txns
Insider
Smith Gerald F JR
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock, $1.25 par value | 1,113 | $0.00 | $0.00 |
| holding | Common Stock, $1.25 par value F2 | -- | -- | -- |
| holding | Common Stock, $1.25 par value F1 | -- | -- | -- |
| holding | Common Stock, $1.25 par value F1 | -- | -- | -- |
| holding | Common Stock, $1.25 par value F3 | -- | -- | -- |
| holding | Common Stock, $1.25 par value F1, F4 | -- | -- | -- |
| holding | Common Stock, $1.25 par value F5 | -- | -- | -- |
Holdings After Transaction:
Common Stock, $1.25 par value — 42,768 shares (Direct);
Common Stock, $1.25 par value — 68,670 shares (Indirect, By Kaye DeHaven Smith Revocable Trust);
Common Stock, $1.25 par value — 245,124 shares (Indirect, By G.F. Smith Jr. GST Trust);
Common Stock, $1.25 par value — 15,046 shares (Indirect, By G.F. Smith Jr. Revocable Trust);
Common Stock, $1.25 par value — 17,724 shares (Indirect, By The Smith 2012 Spousal Trust uad 12/03/2012);
Common Stock, $1.25 par value — 900 shares (Indirect, By Kaye DeHaven Smith Irrevocable Trust FBO Elise D. Smith (Daughter));
Common Stock, $1.25 par value — 12,372 shares (Indirect, By The Smith 2012 GST Trust uad 12/03/2012)
Footnotes (5)
- F1. The reporting person serves as a co-trustee of this trust.
- F2. The reporting person's spouse serves as trustee of this trust.
- F3. The reporting person's spouse serves as co-trustee of this trust.
- F4. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or any other purpose.
- F5. The reporting person serves as trustee of this trust.
Key Figures
Awarded shares: 1,113 shares
Direct holdings after award: 42,768 shares
Kaye DeHaven Smith Revocable Trust: 68,670 shares
+5 more
8 metrics
Awarded shares
1,113 shares
Grant, award, or other acquisition on 2026-08-12
Direct holdings after award
42,768 shares
Common Stock, $1.25 par value, held directly by Gerald F. Smith Jr.
Kaye DeHaven Smith Revocable Trust
68,670 shares
Indirect FXNC holdings; spouse serves as trustee
G.F. Smith Jr. GST Trust
245,124 shares
Indirect FXNC holdings; reporting person serves as co-trustee
G.F. Smith Jr. Revocable Trust
15,046 shares
Indirect FXNC holdings; reporting person serves as co-trustee
Smith 2012 Spousal Trust
17,724 shares
Indirect FXNC holdings; spouse serves as co-trustee
Irrevocable Trust FBO Elise D. Smith
900 shares
Indirect FXNC holdings; beneficial ownership disclaimed
Smith 2012 GST Trust
12,372 shares
Indirect FXNC holdings; reporting person serves as trustee
Key Terms
Grant, award, or other acquisition, beneficial ownership, revocable trust, irrevocable trust, +1 more
5 terms
Grant, award, or other acquisition financial
"Transaction code A described as Grant, award, or other acquisition"
beneficial ownership regulatory
"The reporting person disclaims beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
revocable trust financial
"By Kaye DeHaven Smith Revocable Trust"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
irrevocable trust financial
"By Kaye DeHaven Smith Irrevocable Trust FBO Elise D. Smith"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
Section 16 regulatory
"beneficial owner of the securities for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What transaction did director Gerald F. Smith Jr. report on FXNC stock?
Gerald F. Smith Jr. reported a 1,113 FXNC common shares42,768 shares of First National Corp common stock.
What indirect FXNC holdings did Gerald F. Smith Jr. report via family trusts?
Gerald F. Smith Jr. reports indirect FXNC holdings including 68,670 shares245,124 shares900 to 17,724 shares.
Was the FXNC stock transaction by Gerald F. Smith Jr. under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is not marked as affirmative, and no footnote states the transaction was under a 10b5-1 trading plan. The reported grant appears as a stock award acquisition rather than an open-market trade.
What type of security did Gerald F. Smith Jr. acquire in this FXNC Form 4?
Gerald F. Smith Jr. acquired Common Stock, $1.25 par value of First National Corp. The award covered 1,113 shares at a stated transaction price of $0.00 per share, consistent with a non-cash stock grant or award.
AI-generated analysis. How Rhea-AI works. Not financial advice.
