National Bankshares director granted 219-share time-based stock award

Q: What insider transaction did NATIONAL BANKSHARES INC (NKSH) report?

A company director reported receiving a grant of 219 shares of NATIONAL BANKSHARES INC common stock on 12/10/2025 as a time-based stock award.

Q: Was the NKSH insider transaction a market purchase or an equity award?

The transaction was reported at a price of $0, indicating it was a time-based stock award rather than a market purchase.

Q: When does the NKSH director’s stock award vest?

The filing states the time-based stock award will vest on the one-year anniversary of the grant date, 12/10/2025.

Q: What is the director’s relationship to NATIONAL BANKSHARES INC (NKSH)?

The reporting person is identified as a Director of NATIONAL BANKSHARES INC, filing individually on the Form 4.

National Bankshares Inc. insider update: A company director reported a new equity award.

Accepted by SEC EDGAR 12/11/2025 - 12:34 PM EST

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Rhea-AI Filing Summary

National Bankshares Inc. insider update: A company director reported a new equity award. On 12/10/2025, the director received a grant of 219 shares of National Bankshares common stock at a price of $0, reflecting a time-based stock award rather than an open-market purchase.

According to the filing, this grant increases the director’s beneficial ownership to 9,638 common shares, held directly. The award will vest on the one-year anniversary of the grant date, meaning the director must remain in service for one year to fully earn these shares.

Insider Trade Summary

Grant/Award: 219 shares

Grant/Award 1 txn

Insider Fitzwater Norman V III

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	219	$0.00	$0.00

Holdings After Transaction: Common Stock — 9,638 shares (Direct)

Footnotes (1)

F1. Grant of a time-based stock award. The award will vest on the one-year anniversary.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did NATIONAL BANKSHARES INC (NKSH) report?

A company director reported receiving a grant of 219 shares of NATIONAL BANKSHARES INC common stock on 12/10/2025 as a time-based stock award.

Was the NKSH insider transaction a market purchase or an equity award?

The transaction was reported at a price of $0, indicating it was a time-based stock award rather than a market purchase.

How many NATIONAL BANKSHARES INC (NKSH) shares does the director own after this transaction?

After the grant of 219 shares, the director beneficially owns 9,638 shares of NKSH common stock, held directly.

When does the NKSH director’s stock award vest?

The filing states the time-based stock award will vest on the one-year anniversary of the grant date, 12/10/2025.

What is the director’s relationship to NATIONAL BANKSHARES INC (NKSH)?

The reporting person is identified as a Director of NATIONAL BANKSHARES INC, filing individually on the Form 4.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Fitzwater Norman V III

(Last)

(First)

(Middle)

113 MATEER CIRCLE

(Street)

BLACKSBURG

24060

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
NATIONAL BANKSHARES INC [ NKSH ]

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)
12/10/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/10/2025		A		219⁽¹⁾	A	$0	9,638	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Grant of a time-based stock award. The award will vest on the one-year anniversary.

	/s/Norman V. Fitzwater, III	12/11/2025
	** 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.

Source: View Original Filing on SEC EDGAR