Kirtesh Patel - Jul 1, 2021 Form 4 Insider Report for FIRST NATIONAL CORP /VA/ (FXNC)

Role
Director
Signature
M Shane Bell, by Power of Attorney
Stock symbol
FXNC
Transactions as of
Jul 1, 2021
Transactions value $
$0
Form type
4
Date filed
7/6/2021, 09:31 AM
Next filing
Sep 10, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FXNC Common Stock, $1.25 par value Award +12.2K 12.2K Jul 1, 2021 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects common shares of First National Corporation received in exchange for 74,054 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 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.
F3 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.