First National (FXNC): Fourthstone group reports 0.00% ownership on amended 13G

Rhea-AI Filing Summary

First National Corporation (FXNC) received an amended Schedule 13G from Fourthstone LLC and affiliated funds, updating their ownership disclosure. Fourthstone, a registered investment adviser, reports holding 100 shares of First National common stock on behalf of advisory clients, representing 0.00% of the 9,040,967 shares outstanding as of May 7, 2026. The filing is made jointly by Fourthstone LLC, Fourthstone Master Opportunity Fund Ltd., Fourthstone QP Opportunity Fund LP, Fourthstone Small-Cap Financials Fund LP, Fourthstone GP LLC, and L. Phillip Stone IV, who may be deemed to beneficially own certain shares through their roles. The group states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of First National, and that they now own 5% or less of the class.

Key Figures

Shares beneficially owned: 100 shares Shares outstanding: 9,040,967 shares Percent of class: 0.00% +2 more

5 metrics

Shares beneficially owned 100 shares Fourthstone LLC directly holds 100 shares of common stock on behalf of advisory clients

Shares outstanding 9,040,967 shares Common stock outstanding as of May 7, 2026, per Form 10-K

Percent of class 0.00% Ownership percentage of First National common stock reported by Fourthstone and affiliates

Schedule 13G/A amendment Amendment No. 6 Latest amendment to the passive ownership filing for First National Corporation

Ownership threshold 5 percent or less Item 5 states ownership of 5 percent or less of the class

Key Terms

beneficially own, shared voting power, dispositive power, registered investment adviser, +1 more

5 terms

beneficially own financial

"may be deemed to beneficially own securities owned by Fourthstone"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

shared voting power financial

"6 | Shared Voting Power 100.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared Dispositive Power 100.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

registered investment adviser financial

"acquired the Issuer's shares in the ordinary course of business as a registered investment adviser"

A registered investment adviser (RIA) is a firm or individual legally registered with regulators to give personalized investment advice and manage clients' money, with a duty to put clients’ interests ahead of their own. Think of an RIA as a licensed financial guide who must disclose fees, conflicts and how they are paid; that transparency and legal duty matter to investors because it reduces the risk of hidden costs or biased recommendations.

Schedule 13G regulatory

"Ownership of 5 percent or less of a class"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

What stake in First National Corporation (FXNC) does Fourthstone currently report?

Fourthstone reports beneficial ownership of 100 shares of First National Corporation common stock, representing 0.00% of the 9,040,967 shares outstanding as of May 7, 2026, meaning it now holds 5% or less of the class.

Which entities are included as Reporting Persons in the FXNC Schedule 13G/A?

The Reporting Persons are Fourthstone LLC, Fourthstone Master Opportunity Fund Ltd., Fourthstone QP Opportunity Fund LP, Fourthstone Small-Cap Financials Fund LP, Fourthstone GP LLC, and L. Phillip Stone IV, who is Managing Member of Fourthstone LLC and Fourthstone GP.

Is Fourthstone’s FXNC position intended to influence control of First National Corporation?

No. The Reporting Persons state the FXNC securities were not acquired and are not held for the purpose or effect of changing or influencing control of First National, and are held in the ordinary course of business as an investment adviser.

What is the share count used to calculate Fourthstone’s FXNC ownership percentage?

The reported 0.00% ownership is based on 9,040,967 shares of First National common stock outstanding as of May 7, 2026, as referenced from the company’s Form 10-K filed on May 13, 2026.

Where are Fourthstone and related FXNC Reporting Persons based?

Fourthstone LLC and its related funds list their principal business address as 575 Maryville Centre Drive, Suite 110, St. Louis, MO 63141. L. Phillip Stone IV is a United States citizen; certain funds are organized in Delaware and the Cayman Islands.

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

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Available on EDGAR 08/14/2026 - 04:53 PM Accepted by SEC EDGAR 08/14/2026 - 04:52 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

First National Corporation

(Name of Issuer)

Common stock, par value $1.25 per share

(Title of Class of Securities)

32106V107

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 32106V107

1

Names of Reporting Persons

Fourthstone LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 100.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 100.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

100.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: See Item 4 for a description of the information reported in rows (6), (8), (9) and (11).

SCHEDULE 13G

CUSIP Number(s): 32106V107

1

Names of Reporting Persons

Fourthstone Master Opportunity Fund Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 85.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 85.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

85.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: See Item 4 for a description of the information reported in rows (6), (8), (9) and (11).

SCHEDULE 13G

CUSIP Number(s): 32106V107

1

Names of Reporting Persons

Fourthstone GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: See Item 4 for a description of the information reported in rows (6), (8), (9) and (11).

SCHEDULE 13G

CUSIP Number(s): 32106V107

1

Names of Reporting Persons

Fourthstone QP Opportunity Fund LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: See Item 4 for a description of the information reported in rows (6), (8), (9) and (11).

SCHEDULE 13G

CUSIP Number(s): 32106V107

1

Names of Reporting Persons

Fourthstone Small-Cap Financials Fund LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: See Item 4 for a description of the information reported in rows (6), (8), (9) and (11).

SCHEDULE 13G

CUSIP Number(s): 32106V107

1

Names of Reporting Persons

L. Phillip Stone, IV

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 100.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 100.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

100.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.00 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: See Item 4 for a description of the information reported in rows (6), (8), (9) and (11).

SCHEDULE 13G

Item 1.
(a)	Name of issuer: First National Corporation
(b)	Address of issuer's principal executive offices: 112 West King Street, Strasburg, Virginia 22657
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed by Fourthstone LLC, a Delaware Limited Liability Company and Investment Adviser ("Fourthstone"). The persons reporting information on this Schedule 13G include, in addition to Fourthstone, a company incorporated in the Cayman Islands ("Fourthstone Master Opportunity Fund"), a Delaware Limited Partnership ("Fourthstone QP Opportunity"), a Delaware Limited Partnership ("Fourthstone Small-Cap Financials"), a Delaware Limited Liability Company ("Fourthstone GP, " General Partner of Fourthstone QP Opportunity and Fourthstone Small-Cap Financials), and L. Phillip Stone, IV, a citizen of the United States of America, who is the Managing Member of Fourthstone and Fourthstone GP (each, a "Reporting Person" and, together, the "Reporting Persons"). Fourthstone directly holds 100 shares of Common Stock on behalf of its advisory clients. Each of the Reporting Persons listed in this filing certify the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that effect.
(b)	Address or principal business office or, if none, residence: The principal business address of each of the Reporting Persons is as follows: The registered office of Fourthstone LLC, Fourthstone Master Opportunity Fund Ltd., Fourthstone GP LLC, Fourthstone QP Opportunity Fund LP, Fourthstone Small-Cap Financials Fund LP is 575 Maryville Centre Drive, Suite 110, St. Louis, MO 63141.
(c)	Citizenship: See response to Item 4 of each of the cover pages.
(d)	Title of class of securities: Common stock, par value $1.25 per share
(e)	CUSIP No.: 32106V107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Fourthstone LLC acquired the Issuer's shares in the ordinary course of business as a registered investment adviser and not with the purpose nor with the effect of influencing the control of the Issuer. Fourthstone GP LLC is the general partner of and may be deemed to beneficially own securities owned by Fourthstone QP Opportunity Fund LP and Fourthstone Small-Cap Financials Fund LP. L. Phillip Stone, IV, is the Managing Member of Fourthstone LLC and Fourthstone GP and may be deemed to beneficially own securities owned by Fourthstone. The percentages reported in Row 11 of each cover page are based on 9,040,967 shares of Common Stock (as defined below) of the Issuer (as defined below) outstanding as of May 7, 2026, based on the Issuer's Form 10-K filed on May 13, 2026.
(b)	Percent of class: 0.00%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See responses to Item 5 on each cover page.
	(ii) Shared power to vote or to direct the vote: See responses to Item 6 on each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See responses to Item 7 on each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See responses to Item 8 on each cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Fourthstone LLC

Signature:	Amy M. Stone
Name/Title:	Chief Executive Officer
Date:	08/14/2026

Fourthstone Master Opportunity Fund Ltd

Signature:	Amy M. Stone
Name/Title:	Chief Executive Officer
Date:	08/14/2026

Fourthstone GP LLC

Signature:	L. Phillip Stone, IV
Name/Title:	Managing Member of Fourthstone GP LLC
Date:	08/14/2026

Fourthstone QP Opportunity Fund LP

Signature:	Amy M. Stone
Name/Title:	Chief Executive Officer
Date:	08/14/2026

Fourthstone Small-Cap Financials Fund LP

Signature:	Amy M. Stone
Name/Title:	Chief Executive Officer
Date:	08/14/2026

L. Phillip Stone, IV

Signature:	L. Phillip Stone, IV
Name/Title:	Self, Principal owner of Fourthstone LLC
Date:	08/14/2026