First National Corp announced its CEO, Scott C. Harvard, is leaving and will get a new retirement plan.

Nov 13, 2026, 4:02 PM ETNew bossRead the original at SEC EDGAR

Bad for FXNC

First National agreed to provide its CEO an additional $2,376,298 retirement benefit after a qualifying departure, except a company firing for cause. This adds a future company payment, though no payment is due now.

FXNC · First National Corporation

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The added payment gives the chief executive money from the company if the stated departure condition is met. The filing reports no immediate payment and names no other benefit to First National. The added cost weighs against the company, though the filing does not compare it with the company's finances.

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