[Form 4] FIRST NATL CORP STRASBURG VA Insider Trading Activity

Rhea-AI Filing Summary

William Simmons Wilkinson, a director of First National Corp (FXNC), acquired 1,500 shares of common stock on 08/13/2025 at a reported price of $0. After the transaction he beneficially owned 21,864 shares directly and 759 shares indirectly through Circle W Farms LLC. The Form 4 was signed by Christopher L Sugg by power of attorney on 08/14/2025.

Positive

• Director acquisition reported: 1,500 shares acquired on 08/13/2025, increasing direct holdings to 21,864 shares.
• Indirect holdings disclosed: 759 shares held via Circle W Farms LLC, providing clarity on indirect ownership.

Negative

• Reported price is $0 and the filing does not explain the reason for a zero price.
• Transaction code is not provided in the table, leaving the nature of the acquisition unclear.

Insights

Financial Analyst

TL;DR: Director purchase of 1,500 shares reported at $0 increases direct holdings to 21,864; disclosure provides limited context.

The filing documents a non-derivative acquisition of 1,500 common shares by William Simmons Wilkinson on 08/13/2025, raising his direct beneficial ownership to 21,864 shares and showing an additional 759 shares held indirectly via Circle W Farms LLC. The reported price is $0 and the form does not provide an explanation for that price or a transaction code. From a financial viewpoint this is a straightforward insider disclosure without earnings or debt implications; the form is neutral in market impact absent further detail on the nature of the transaction.

Corporate Governance Expert

TL;DR: Timely Form 4 filed but the disclosure omits transaction rationale and a transaction code, limiting interpretability.

The Form 4 shows a director-level insider reporting an acquisition and updates to beneficial ownership, which is consistent with Section 16 reporting obligations. The signature by a power of attorney on 08/14/2025 indicates a timely filing. However, the document reports a $0 price and leaves the transaction code blank; the filing does not explain whether this reflects a gift, transfer, or other non-cash transaction. For governance review, the absence of explanatory detail reduces transparency though the required numeric disclosures are present.

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
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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^*

Wilkinson William Simmons

(Last) (First) (Middle)

112 WEST KING STREET

(Street)

STRASBURG VA 22657

(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	21,864	D
Common Stock, $1.25 par value								759	I	By Circle W Farms LLC

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.

FAQ

Who filed the Form 4 for FXNC?

The reporting person is William Simmons Wilkinson, a director of First National Corp (FXNC).

What transaction is reported on the Form 4 for FXNC?

The form reports an acquisition of 1,500 shares of common stock on 08/13/2025.

How many shares does William Wilkinson beneficially own after the transaction?

After the reported transaction he beneficially owned 21,864 shares directly and 759 shares indirectly through Circle W Farms LLC.

What price was reported for the FXNC transaction?

The reported price for the acquisition is $0 as shown on the Form 4.

When was the Form 4 signed and by whom?

The form was signed by Christopher L Sugg by power of attorney on 08/14/2025.