FIRST NATIONAL CORP /VA/ — Director's Dealing 2021

Jul 6, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST NATIONAL CORP /VA/ (FXNC)
CIK: 0000719402
Period of Report: 2021-07-01

Reporting Person: Holt George Edwin III (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-07-01	Common Stock, $1.25 par value	A	19963	—	Acquired	20963	Direct
2021-07-01	Common Stock, $1.25 par value	A	6596	—	Acquired	6596	Indirect
2021-07-01	Common Stock, $1.25 par value	A	15870	—	Acquired	15870	Indirect
2021-07-01	Common Stock, $1.25 par value	A	15463	—	Acquired	15463	Indirect

Footnotes

F1: Reflects common shares of First National Corporation received in exchange for 121,075 common shares of The Bank of Fincastle at the effective time of the merger of The Bank of Fincastle into First National Corporation, pursuant to the agreement and plan of merger between First National Corporation and The Bank of Fincastle. Represents an exchange ratio of 0.1649 First National Corporation common shares per common share of The Bank of Fincastle, with cash paid in lieu of fractional shares.

F2: Reflects common shares of First National Corporation received in exchange for 40,000 common shares of The Bank of Fincastle at the effective time of the merger of The Bank of Fincastle into First National Corporation, pursuant to the agreement and plan of merger between First National Corporation and The Bank of Fincastle. Represents an exchange ratio of 0.1649 First National Corporation common shares per common share of The Bank of Fincastle, with cash paid in lieu of fractional shares.

F3: Reflects common shares of First National Corporation received in exchange for 96,245 common shares of The Bank of Fincastle at the effective time of the merger of The Bank of Fincastle into First National Corporation, pursuant to the agreement and plan of merger between First National Corporation and The Bank of Fincastle. Represents an exchange ratio of 0.1649 First National Corporation common shares per common share of The Bank of Fincastle, with cash paid in lieu of fractional shares.

F4: Reflects common shares of First National Corporation received in exchange for 93,775 common shares of The Bank of Fincastle at the effective time of the merger of The Bank of Fincastle into First National Corporation, pursuant to the agreement and plan of merger between First National Corporation and The Bank of Fincastle. Represents an exchange ratio of 0.1649 First National Corporation common shares per common share of The Bank of Fincastle, with cash paid in lieu of fractional shares.

F5: The closing price per common share of The Bank of Fincastle on the day immediately preceding the effective date of the merger was $3.25 per share, and the closing price per common share of First National Corporation on the effective date of the merger was $20.08 per share.

F6: For purposes of filing this Form 4, the number of shares of First National Corporation common stock is estimated based on the reporting person's election under the merger agreement and will be updated if the final number differs materially from this estimate.