[8-K] Virginia National Bankshares Corporation Reports Material Event

Rhea-AI Filing Summary

Sony Group Corporation (SONY) filed a Form 6-K to report a new strategic business alliance with Bandai Namco Holdings. Sony will purchase 16 million Bandai Namco shares for ~¥68 billion, giving it an approx. 2.5 % equity stake. The partners intend to combine Sony’s production/distribution, music and technology assets with Bandai Namco’s strong anime- and game-centric IP portfolio to expand global fan communities, co-develop new content, merchandise and experiential entertainment, and jointly invest in creator-support technologies.

• The deal is not expected to materially affect Sony’s FY 2025-26 earnings.
• Focus areas include anime, manga, games, merchandising and fan-engagement services.
• Both firms have collaborated previously; this agreement formalises and broadens those efforts.

The filing contains no new financial guidance and reiterates that short-term P&L impact is limited. Completion is subject to closing of the share transfer, but no regulatory hurdles are highlighted.

Insights

Entertainment Industry Specialist

TL;DR: Small equity stake but deep content alliance may strengthen Sony’s IP pipeline and global anime reach; financial impact modest near-term.

Sony gains privileged access to Bandai Namco’s rich catalogue—Gundam, Dragon Ball, Elden Ring, etc.—allowing wider cross-media exploitation across PlayStation, Crunchyroll and Sony Music. A sub-3 % stake limits governance influence, yet formal alignment reduces coordination friction and could accelerate co-production timelines. Given the fast-growing global anime market (double-digit CAGR), the partnership supports Sony’s ambition to monetise IP across platforms. Near-term earnings uplift is minimal, but strategic optionality and merchandising synergies look favourable.

Equity Analyst

TL;DR: Strategic positive, cash outlay ¥68 bn (<~US$430 m) is immaterial to Sony; guidance unchanged, overall market impact neutral.

¥68 bn equals roughly 0.5 % of Sony’s FY 2024 cash and 0.2 % of market cap, so balance-sheet stress is negligible. Management explicitly states no material FY 2026 impact, tempering expectations of immediate EPS lift. Investors should view the move as an inexpensive call option on anime growth rather than a profit driver. Integration risk is low due to prior cooperation, but without majority control Sony relies on contractual cooperation to secure IP rights. Overall valuation effect likely modest in the short term.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 24, 2025

VIRGINIA NATIONAL BANKSHARES CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Virginia			001-40305	46-2331578
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
404 People Place
Charlottesville, Virginia				22911
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (434) 817-8621

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		VABK		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On Thursday, July 24, 2025, certain executive officers of Virginia National Bankshares Corporation (the "Company') or its affiliates are scheduled to make a presentation at the Company's Annual Meeting of Shareholders, which will be held at the Hilton Garden Inn, 1793 Richmond Road, Charlottesville, VA 22911, at 10:00 a.m. Eastern Time. The slides that will be presented at the meeting are attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information disclosed in or incorporated by reference into this Item 7.01, including Exhibit 99.1, is furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibit(s) are furnished herewith:

Exhibit No.		Description
99.1		Presentation for the Virginia National Bankshares Corporation Annual Shareholders' Meeting on July 24, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			VIRGINIA NATIONAL BANKSHARES CORPORATION
Date:	July 24, 2025	By:	/s/ Tara Y. Harrison
			Tara Y. Harrison Executive Vice President and Chief Financial Officer