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

Rhea-AI Filing Summary

First National Corp (FXNC) director Elizabeth H. Cottrell reported acquiring 1,500 shares of common stock on 08/13/2025 at a reported price of $0. Following the transaction she directly beneficially owned 18,742 shares. The Form 4 was signed under power of attorney by Christopher L. Sugg on 08/14/2025. No derivative securities were reported.

Insights

Financial Analyst

TL;DR: Director purchased 1,500 shares; significance unclear without additional context on outstanding shares or prior trading.

The filing shows a non-derivative acquisition of 1,500 common shares at a reported price of $0, increasing direct beneficial ownership to 18,742 shares. The reported $0 price is stated on the form but the document provides no explanation for the pricing or whether this reflects a grant, gift, or other non-cash issuance. There is no derivative activity disclosed.

Corporate Governance Expert

TL;DR: Insider disclosure filed properly; signed by POA, showing routine reporting of a director's equity change.

The Form 4 identifies Elizabeth H. Cottrell as a director and reports an acquisition transaction dated 08/13/2025. The form was executed by Christopher L. Sugg by power of attorney on 08/14/2025, indicating procedural completion of Section 16 reporting. The filing contains no additional commentary, grants, or amendments that would change governance implications.

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).

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^*

COTTRELL ELIZABETH H

(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	18,742	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.

FAQ

What transaction was reported for FXNC on this Form 4?

A reported acquisition of 1,500 common shares by director Elizabeth H. Cottrell on 08/13/2025 at a reported price of $0.

Who filed the Form 4 for FXNC and what is their relation to the company?

The reporting person is Elizabeth H. Cottrell, identified as a director of First National Corp (FXNC).

How many FXNC shares did the reporting person own after the transaction?

After the reported transaction the reporting person directly beneficially owned 18,742 shares.

Was any derivative security reported in this filing for FXNC?

No. The filing reports only a non-derivative acquisition of common stock and lists no derivative securities.

When was the Form 4 signed and by whom?

The Form 4 was signed under power of attorney by Christopher L. Sugg on 08/14/2025.