Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)*

 

 

First National Corporation

(Name of Issuer)

Common Stock, par value $1.25 per share

(Title of Class of Securities)

32106V107

(CUSIP Number)

March 22, 2022

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 32106V107

 

  1    

  Name Of Reporting Persons

 

  Gerald F. Smith Irrevocable Trust, f/b/o Gerald F. Smith, Jr. dated 9/30/02

  2  

  Check The Appropriate Box If A Member Of A Group (See Instructions)

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship Or Place Of Organization

 

  New York

Number of

Shares

 Beneficially 

Owned By

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  0

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  0

  9    

  Aggregate Amount Beneficially Owned By Each Reporting Person

 

  0

10  

  Check If The Aggregate Amount In Row (9) Excludes Certain Shares (See Instructions)

 

11  

  Percent Of Class Represented By Amount In Row 9

 

  0.00%

12  

  Type of Reporting Person (See Instructions)

 

  OO


CUSIP No. 32106V107

 

  1    

  Name Of Reporting Persons

 

  J. Charles Link1

  2  

  Check The Appropriate Box If A Member Of A Group (See Instructions)

  (a)  ☐        (b)  ☐

 

  3  

  SEC Use Only

 

  4  

  Citizenship Or Place Of Organization

 

  Virginia

Number of

Shares

 Beneficially 

Owned By

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  0

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  0

  9    

  Aggregate Amount Beneficially Owned By Each Reporting Person

 

  0

10  

  Check If The Aggregate Amount In Row (9) Excludes Certain Shares (See Instructions)

 

11  

  Percent Of Class Represented By Amount In Row 9

 

  0.00%

12  

  Type of Reporting Person (See Instructions)

 

  IN

 

1 

Mr. Link filing this Amendment No. 1 to Schedule 13G solely in connection with his role as trustee of the Gerald F. Smith Irrevocable Trust, f/b/o Gerald F. Smith, Jr. dated 9/30/02.


CUSIP No. 32106V107

 

Item 1(a).

Name of Issuer:

First National Corporation (the “Issuer”)

 

Item 1(b).

Address of Issuer’s Principal Executive Offices:

112 West King Street

Strasburg, Virginia 22657

 

Item 2(a).

Name of Persons Filing: 1

Gerald F. Smith Irrevocable Trust, f/b/o Gerald F. Smith, Jr. dated 9/30/02 (the “Trust”) 2

J. Charles Link (the “Trustee”) 3

 

Item 2(b).

Address of Principal Business Office or, i f None, Residence:

13539 Scotchtown Road

Beaverdam, Virginia 23015

 

Item 2(c).

Citizenship:

The Trust is governed by the trust laws of the State of New York.

The Trustee is a citizen of the Commonwealth of Virginia.

 

Item 2(d).

Title of Class of Securities:

Common Stock, par value $1.25 per share (the “Common Stock”)

 

Item 2(e).

CUSIP Number:

32106V107

 

Item 3.

Not applicable

 

Item 4.

Ownership

(a) through (c). As of March 22, 2022, the Trust and the Trustee (in his role as such for the Trust) do not beneficially own any shares of Common Stock.

 

Item 5.

Ownership of Five Percent or Less of a Class

If the statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☒.

 

Item 6.

Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

 

1 

Neither the present filing nor anything contained herein shall be construed as an admission that the Reporting Persons constitute a “group” for any purposes and each expressly disclaims membership in a group.

2 

The Trust was a generation skipping trust managed by the Trustee, who has a fiduciary duty to carry out the purposes of the Trust in accordance with the applicable trust agreement and the trust laws of the State of New York. The assets of the Trust were decanted, and the shares of Common Stock that were previously reported as beneficially owned by the Trust were transferred to a separate trust.

3 

. J. Charles Link was the Trustee of the Trust. Mr. Link is filing this Amendment No. 1 to Schedule 13G solely in connection with his role as Trustee of the Trust.


CUSIP No. 58490H107

 

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

Not applicable.

 

Item 8.

Identification and Classification of Members of the Group

Not applicable.

 

Item 9.

Notice of Dissolution of Group

Not applicable.

 

Item 10.

Certifications

Not applicable.


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: March 29, 2022.

 

/s/ J. Charles Link, Trustee

J. Charles Link, Trustee
Acting on behalf of the Trust

 

/s/ J. Charles Link

J. Charles Link