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Name Of Reporting Persons

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

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

(a) ☐ (b) ☐

SEC Use Only

Citizenship Or Place Of Organization

New York

Accession Number:: 0001193125-22-087718
Form Type:: 13G Filing
Publication Date:: 2022-03-28 20:00:00

Filed By:: Gerald F. Smith Irrevocable Trust F/b/o Gerald F. Smith, Jr. Dated 9/30/02
Company:: First National Corp (NASDAQ:FXNC)
Filing Date:: 2022-03-29
SEC Url:: 13G Filing

Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name	Sole Voting Power	Shared Voting Power	Sole Dispositive Power	Shared Dispositive Power	Aggregate Amount Owned Power	Percent of Class
Gerald F. Smith Irrevocable Trust, f b o Gerald F. Smith, Jr. dated	0	0	0	0	0	0.00%
J. Charles Link	0	0	0	0	0	0.00%

Filing

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 persons 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

CUSIP No. 32106V107

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 Issuers 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, if 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.

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

EXHIBITS


Exhibit No.		Title

99.1		Joint Filing Agreement, dated February 16, 2021, as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (incorporated by reference to Exhibit 99.1 to Schedule 13G filed by the Trust and the Trustee on February 16, 2021)