Wilkins III Amends Stake in First National Corp

TL;DR

Wilkins III updated his 13D on First National Corp (VA) - watch for ownership changes.

AI Summary

James R. Wilkins III has amended his Schedule 13D filing regarding First National Corporation (VA) as of December 17, 2024. The filing indicates a change in beneficial ownership, though specific new holdings or dollar amounts are not detailed in this excerpt. The amendment date suggests recent activity concerning the company's common stock.

Why It Matters

This filing signals a potential shift in control or significant investor interest in First National Corporation, which could impact its stock price and strategic direction.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant ownership changes or activist investor involvement, which can introduce volatility.

Key Players & Entities

• FIRST NATIONAL CORP /VA/ (company) — Subject Company
• WILKINS III JAMES R (person) — Filing Person
• SCOTT C. HARVARD (person) — Authorized to Receive Notices

FAQ

Key Financial Figures

• $1.25 — ame of Issuer) COMMON STOCK, PAR VALUE $1.25 PER SHARE (Title of Class of Securiti

Filing Documents

• wilkins20241216_sc13da.htm (SC 13D/A) — 44KB
• 0001437749-24-037720.txt ( ) — 45KB

From the Filing

SC 13D/A 1 wilkins20241216_sc13da.htm SCHEDULE 13D/A wilkins20241216_sc13da.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 5) * FIRST NATIONAL CORPORATION (Name of Issuer) COMMON STOCK, PAR VALUE $1.25 PER SHARE (Title of Class of Securities) 32106V107 (CUSIP Number) SCOTT C. HARVARD FIRST NATIONAL CORPORATION 112 WEST KING STREET STRASBURG, VIRGINIA 22657 (540) 465-9121 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 14, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. *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 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 ("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 32106V107 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) James R. Wilkins, III 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) (b) Not Applicable 3. SEC USE ONLY 4. SOURCE OF FUNDS (See Instructions) PF 5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) Not Applicable 6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. 7. SOLE VOTING POWER 339,687 NUMBER OF SHARES 8. SHARED VOTING POWER 107,299 BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 9. SOLE DISPOSITIVE POWER 339,687 10. SHARED DISPOSITIVE POWER 107,299 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 446,986 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) Not Applicable 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.0% (1) 14. TYPE OF REPORTING PERSON (See Instructions) IN (1) Based on 8,970,321 shares of Common Stock (as defined below) of the Issuer (as defined below) outstanding as of November 8, 2024, based on the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 14, 2024. Page 2 AMENDMENT NO. 5 TO SCHEDULE 13D FOR JAMES R. WILKINS, III Item 1. Security and Issuer This Schedule 13D relates to the common stock, par value $1.25 per share ("Common Stock"), of First National Corporation (the "Issuer"), 112 West King Street, Strasburg, Virginia 22657. Item 2. Identity and Background (A) James R. Wilkins, III (B) 1016 Lake St. Clair Drive, Winchester, Virginia 22603. (C) Mr. Wilkins is President of Silver Lake Properties, Inc. and General Partner of Wilkins Investments, LP and Wilkins Enterprises, LP, all of which are real estate development and management companies with offices located at 13 South Loudoun Street, Winchester, Virginia 22601. He is also a director of the Issuer. (D) During the last five years, Mr. Wilkins has not been convicted in a criminal proceeding, excluding traffic violations or similar misdemeanors. (E) During the last five years, Mr. Wilkins has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction that resulted in his being subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (F) Mr. Wilkins is a citizen of the U.S.A. Item 3. Source and Amount of Funds and Other Consideration Not applicable. Item 4. Purpose of Transaction James R. Wilkins, III has acquired shares of Common Stock, directly and indirectly, for investment purposes from time to time, and he may continue to do so in the future for such purposes. Item 5. Interest in Securities of the Issuer (A) The aggregate number and percentage of Common Stock beneficially owned by Mr. Wilkins are 446,986 shares and 5.0%, respectively. Page 3 (B) Mr. Wilkins owns directly 300,849 shares and is the sole manager of GSW Holdings, LLC, LTW Holdings, LLC, IBW Holdings, LLC and JRWIV Holdings, LLC, entities that hold 38,838 shares, thus Mr. Wilkins has the sole power to vote or to direct the vote and the sole power to dispose or to direct the disposition of 339,687 shares identified pursuant to Item 5(A). Mr. Wilkins is a general partner of Wilkins Investments, LP,

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