Form 4: Director Gerald F. Smith Jr. Reports Stock Transfer in First National Corp Filing

Director Gerald F. Smith Jr. reported a transfer of 5,000 shares of First National Corp stock to a trust, while also detailing his indirect holdings through various trusts.

Summary

• Gerald F. Smith Jr., a director at First National Corp, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On October 3, 2024, Mr. Smith transferred 5,000 shares of common stock to a trust.
• The transfer was a gift and the price was $0.
• Following the transaction, Mr. Smith's direct holdings are 40,155 shares.
• Mr. Smith also has indirect holdings through various trusts, including the Kaye DeHaven Smith Revocable Trust (72,370 shares), The Smith 2012 Spousal Trust (17,724 shares), The Smith 2012 GST Trust (18,558 shares), G. F. Smith Jr. GST Trust (245,124 shares), G. F. Smith Jr. Revocable Trust (15,046 shares), Kaye DeHaven Smith Irrevocable Trust FBO Elise D. Smith (900 shares), and Elise D. Smith (48,493 shares).
• Mr. Smith disclaims beneficial ownership of the shares held by his daughter, Elise D. Smith.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not contain any information that would indicate positive or negative sentiment.

Industry Context

This is a standard SEC Form 4 filing, which is a routine disclosure for corporate insiders who have transactions involving their company's stock. It is a common practice for directors to manage their holdings through trusts for estate planning and tax purposes.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for corporate insiders in the US, and this filing is consistent with those requirements.
• The use of trusts for managing stock holdings is a common practice among corporate directors and executives.
• The level of detail provided in this filing is typical for Form 4 disclosures.

Stakeholder Impact

• This filing provides transparency to shareholders regarding the stock transactions of a company director.
• The transfer of shares to a trust does not have a direct impact on the company's operations or financial performance.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transfer, Director, First National Corp, Trusts, Gerald F. Smith Jr.