William Funk Increases Stake in First National Corp (FXNC)

Rhea-AI Filing Summary

William Michael Funk, a director of First National Corp /VA/ (FXNC), reported an acquisition of 1,500 shares of the issuer's common stock at a reported price of $0. After the transaction the reporting person beneficially owns 18,670 shares directly. The Form 4 was filed by a single reporting person and shows no derivative transactions.

Positive

• Director increased direct ownership by 1,500 shares, aligning insider interests with shareholders

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A director increased his direct stake by 1,500 shares, modestly raising insider alignment with shareholders.

The filing shows a direct purchase/receipt of 1,500 common shares resulting in 18,670 shares beneficially owned directly by the director. This is a routine insider purchase disclosure without accompanying derivative activity or indicated changes in control. For governance, insider purchases can signal confidence but the absolute size and lack of context about total outstanding shares limit the assessment of materiality.

Securities Analyst

TL;DR: Transaction is a small insider acquisition with no listed derivative trades and limited market impact on its own.

The report documents a non-derivative acquisition of 1,500 shares at a reported price of $0, leaving a direct stake of 18,670 shares. There are no option exercises, sales, or additional transactions disclosed. Absent information on company-wide share count or subsequent filings, this disclosure appears informational and unlikely to be materially price-moving by itself.

Insider Trade Summary

Net Buyer: 1,500 shares

Net Buy 1 txn

Insider Funk William Michael

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $1.25 par value	1,500	$0.00	$0.00

Holdings After Transaction: Common Stock, $1.25 par value — 18,670 shares (Direct)

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 08/14/2025 - 12:24 PM Learn about SEC filing dates

FAQ

What change did the FXNC filing report?

The Form 4 reports the acquisition of 1,500 shares of First National Corp common stock at a reported price of $0.

Who is the reporting person on the FXNC Form 4?

The reporting person is William Michael Funk, identified as a director of the issuer.

How many shares does the director own after the transaction?

Following the reported transaction the director beneficially owns 18,670 shares directly.

Were any derivatives reported in this Form 4 for FXNC?

No. Table II contains no derivative securities, indicating no options, warrants, or convertible instruments were reported.

Was the Form 4 filed by multiple reporting persons?

No. The filing indicates the form was filed by one reporting person.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Funk William Michael

(Last) (First) (Middle)

443 SHENWOOD AVE

(Street)

WOODSTOCK VA 22664-1956

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST NATIONAL CORP /VA/ [ FXNC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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, $1.25 par value	08/13/2025		A		1,500	A	$0	18,670	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

Explanation of Responses:

	/s/ Christopher L Sugg, by Power of Attorney	08/14/2025
	** 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.