Form 4: Virginia National Bankshares Corp Director Kevin T. Carter Reports Acquisition of Common Stock

Director Kevin T. Carter reports acquisition of 1,496 shares of Virginia National Bankshares Corp common stock through a restricted stock grant.

Summary

• On March 27, 2024, Kevin T. Carter, a director of Virginia National Bankshares Corp, acquired 1,496 shares of common stock through a restricted stock grant.
• The grant vests in four equal annual installments starting March 27, 2025.
• Carter also owns 11,360.63 shares of common stock, which includes 195.89 shares acquired through dividend reinvestment since the last Section 16 filing.
• The transaction was reported on April 1, 2024.

Sentiment

Score: 7

Explanation: Director's acquisition of shares is a positive signal, suggesting confidence in the company's prospects. The restricted stock grant further aligns interests with long-term shareholder value.

Positives

• The acquisition of shares by a director signals confidence in the company's future.

Future Outlook

The restricted stock grant suggests a long-term commitment by the director to the company's success.

Industry Context

Directors acquiring company stock is generally viewed positively in the banking industry, aligning management's interests with shareholders'.

Comparison to Industry Standards

• Director stock ownership is a common practice in the banking industry to align interests with shareholders.
• Comparable companies often use restricted stock grants as part of executive compensation packages to incentivize long-term performance.

Stakeholder Impact

• Shareholders may view the director's stock acquisition positively.
• The director's increased stake aligns their interests more closely with those of shareholders.

Key Dates