Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses FXNC in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named FXNC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Scott Harvard | $509,520 | $0 | $137,756 | $0 | $257,610 | $0 | $18,430 | $923,316 |
| President & Chief Executive Officer | ||||||||
| Dennis Dysart | 331,613 | 0 | 61,804 | 0 | 107,079 | 0 | 14,242 | 514,738 |
| Sr. Executive Vice President & Chief Operating Officer | ||||||||
| Brad Schwartz | 213,462 | 0 | 112,200 | 0 | 90,000 | 0 | 11,150 | 426,812 |
| Executive Vice President & Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Scott Harvard | $923,316 | $1,291,377 | — | −368,061 |
| Dennis Dysart | 514,738 | 781,511 | — | −266,773 |
| Brad Schwartz | 426,812 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Dennis Dysart | RSU | 2024-02-14 | — | — | 2,494 | — | — |
| Dennis Dysart | RSU | 2024-11-13 | — | — | 13,296 | — | — |
| Dennis Dysart | RSU | 2025-02-12 | — | — | 2,368 | — | — |
| Scott Harvard | RSU | 2024-02-14 | — | — | 4,633 | — | — |
| Scott Harvard | RSU | 2024-11-13 | — | — | 19,725 | — | — |
| Scott Harvard | RSU | 2025-02-12 | — | — | 5,278 | — | — |
| Brad Schwartz | RSU | 2025-08-13 | — | — | 5,000 | — | — |
Grant-level vehicle detail not disclosed.
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Scott Harvard | RSU | 3,518 | — | $88,794 |
| Scott Harvard | RSU | 1,544 | — | 38,971 |
| Scott Harvard | RSU | 13,150 | — | 331,906 |
| Dennis Dysart | RSU | 8,864 | — | 223,727 |
| Brad Schwartz | RSU | 5,000 | — | 126,200 |
| Dennis Dysart | RSU | 1,578 | — | 39,829 |
| Dennis Dysart | RSU | 831 | — | 20,974 |
The Company strives to attract, motivate, and retain high-quality executives by providing total compensation that is performance-based and competitive with the various labor markets and industries in which the Company competes for talent. The compensation plans are designed to support the Company’s corporate business strategy and business plan, with expectations clearly communicated to executives and rewards tied to achievement of goals and results.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pearl Meyer |
| Clawback policy | true |
| Anti-hedging | false |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-05-14 | 4,820,738 | 183,279 | 33,300 | 96.34% | Passed |
| 2022 | 2022-05-11 | 3,873,719 | 48,815 | 37,074 | 98.76% | Passed |
| 2019 | 2019-05-08 | 2,340,495 | 230,841 | 32,559 | 91.02% | Passed |
| 2016 | 2016-05-10 | 2,187,115 | 77,892 | 33,149 | 96.56% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2025 | 2025-05-14 | 96.34%a |
| 2022 | 2022-05-11 | 98.76%b |
| 2019 | 2019-05-08 | 91.02%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | — |
|---|---|
| CEO total compensation | — |
| Median employee compensation | — |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Elizabeth H. CottrellIndependent · Board Chair | $43,693 | $31,755 | — | — | — | $75,448 |
| Gerald F. Smith JrIndependent · Audit · Compensation and Governance (Chair) | 33,754 | 31,755 | — | — | — | 65,509 |
| Jason C. AikensIndependent · Compensation and Governance | 32,401 | 31,755 | — | — | — | 64,156 |
| George Edwin Holt IIIIndependent · Audit | 32,401 | 31,755 | — | — | — | 64,156 |
| James R. Wilkins IIIIndependent | 32,401 | 31,755 | — | — | — | 64,156 |
| W. Michael FunkIndependent · Audit · Compensation and Governance | 32,401 | 31,755 | — | — | — | 64,156 |
| Emily Marlow BeckIndependent · Audit (Chair) · Compensation and Governance | 32,401 | 31,755 | — | — | — | 64,156 |
| Boyce BrannockIndependent | 32,401 | 31,755 | — | — | — | 64,156 |
| Kirtesh PatelIndependent · Compensation and Governance | 32,401 | 31,755 | — | — | — | 64,156 |
| Toni T. Lee-AndrewsIndependent · Audit | 32,401 | 31,755 | — | — | — | 64,156 |
| Norman D. Wagstaff JrIndependent · Compensation and Governance | 32,401 | 31,755 | — | — | — | 64,156 |
| William S. WilkinsonIndependent | 32,401 | 31,755 | — | — | — | 64,156 |
| Scott C. HarvardEmployee director | 0 | 0 | 0 | 0 | 0 | 0 |
| Annual cash retainer | $31,500 |
|---|---|
| Annual equity retainer | $31,755 |
| Per board meeting fee | $0 |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $401,457 |
| Equity awards (grant-date value) | $381,060 |
| All other compensation | $0 |
| Total cost of the board | $782,517 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | First National | 2025 | Scott Harvard | $509,520 | $137,756 | $0 | $257,610 | $923,316 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Scott Harvard | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation”. As printed: 923,316. Filing ↗machine: span 180767–180774 |
| 2 | Section 01, Dennis Dysart | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation”. As printed: 514,738. Filing ↗machine: span 192907–192914 |
| 3 | Section 01, Brad Schwartz | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation”. As printed: 426,812. Filing ↗machine: span 205068–205075 |
| 4 | Section 03, Dennis Dysart RSU | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 228641–228646 |
| 5 | Section 03, Dennis Dysart RSU | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 229134–229140 |
| 6 | Section 03, Dennis Dysart RSU | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 227740–227745 |
| 7 | Section 03, Scott Harvard RSU | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 228536–228541 |
| 8 | Section 03, Scott Harvard RSU | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 229098–229104 |
| 9 | Section 03, Scott Harvard RSU | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗ |
| 10 | Section 03, Brad Schwartz RSU | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 228195–228200 |
| 11 | Section 07, pay ratio | 10-K | 2026-03-25 | 0001437749-26-009748 | Section “CEO Pay Ratio”. As printed: —. Filing ↗ |
| 12 | Section 08, Elizabeth H. Cottrell | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 75,448. Filing ↗machine: span 380797–380803 |
| 13 | Section 08, Gerald F. Smith Jr | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 65,509. Filing ↗machine: span 392803–392809 |
| 14 | Section 08, Jason C. Aikens | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 374796–374802 |
| 15 | Section 08, George Edwin Holt III | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 386802–386808 |
| 16 | Section 08, James R. Wilkins III | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 396813–396819 |
| 17 | Section 08, W. Michael Funk | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 382795–382801 |
| 18 | Section 08, Emily Marlow Beck | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 376796–376802 |
| 19 | Section 08, Boyce Brannock | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 378793–378799 |
| 20 | Section 08, Kirtesh Patel | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 390800–390806 |
| 21 | Section 08, Toni T. Lee-Andrews | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 388804–388810 |
| 22 | Section 08, Norman D. Wagstaff Jr | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 394809–394815 |
| 23 | Section 08, William S. Wilkinson | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 64,156. Filing ↗machine: span 399284–399290 |
| 24 | Section 08, Scott C. Harvard | DEF 14A | 2026-04-02 | 0001437749-26-011018 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 25 | Section 06, 2025 vote | Form 8-K | 2025-05-15 | 0001437749-25-017041 | Item 5.07 · say-on-pay result. As reported: 96.34% (votes for as printed: 4,820,738). Filing ↗ |
| 26 | Section 06, 2022 vote | Form 8-K | 2022-05-12 | 0001437749-22-012100 | Item 5.07 · say-on-pay result. As reported: 98.76% (votes for as printed: 3,873,719). Filing ↗ |
| 27 | Section 06, 2019 vote | Form 8-K | 2019-05-09 | 0001002105-19-000031 | Item 5.07 · say-on-pay result. As reported: 91.02% (votes for as printed: 2,340,495). Filing ↗ |
| 28 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 29 | Section 09b board cost (computed) | Computed | — | computed | Cash 401,457 + equity 381,060 + all other 0 = 782,517, summed across the director compensation table rows.machine: formula: Σ = 782,517 |
| 30 | First National (subject), Section 10b CEO total | DEF 14A | 2026-04-02 | 0001437749-26-011018 | CEO total compensation as printed in First National's own proxy. As printed: 923,316. Filing ↗machine: span 180767–180774 |