(FXNC)

Role: Director
Signature: /s/ M. Shane Bell, by Power of Attorney
Stock symbol: FXNC
Transactions as of: Oct 1, 2024
Transactions value $: $0
Form type: 4
Date filed: 10/3/2024, 04:46 PM
Next filing: Dec 9, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FXNC	Common Stock, $1.25 par value	Award		+97.5K			97.5K	Oct 1, 2024	Direct	F1, F2

* 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 120,000 common shares of Touchstone Bankshares at the effective time of the merger of Touchstone Bankshares into First National Corporation, pursuant to the agreement and plan of merger between First National Corporation and Touchstone Bankshares. Represents an exchange ratio of 0.8122 First National Corporation common shares per common share of Touchstone Bankshares, with cash paid in lieu of fractional shares.
F2	The closing price per common share of Touchstone Bankshares on the day immediately preceding the effective date of the merger was $14.25 per share, and the closing price per common share of First National Corporation on the effective date of the merger was $17.50 per share.

Content

Reflects common shares of First National Corporation received in exchange for 120,000 common shares of Touchstone Bankshares at the effective time of the merger of Touchstone Bankshares into First National Corporation, pursuant to the agreement and plan of merger between First National Corporation and Touchstone Bankshares. Represents an exchange ratio of 0.8122 First National Corporation common shares per common share of Touchstone Bankshares, with cash paid in lieu of fractional shares.

The closing price per common share of Touchstone Bankshares on the day immediately preceding the effective date of the merger was $14.25 per share, and the closing price per common share of First National Corporation on the effective date of the merger was $17.50 per share.