# EDGAR Filing Document

**Accession Number:** 0001572334
**File Stem:** 0001193125-25-320274
**Filing Date:** 2025-12
**Character Count:** 13037
**Document Hash:** abfb0c4f4cebe32ce95bd05458740a5b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-320274.hdr.sgml**: 20251216

**ACCESSION NUMBER**: 0001193125-25-320274

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20251216

**DATE AS OF CHANGE**: 20251216

**EFFECTIVENESS DATE**: 20251216

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virginia National Bankshares Corp
- **CENTRAL INDEX KEY:** 0001572334
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** VA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292160
- **FILM NUMBER:** 251573885

**BUSINESS ADDRESS:**
- **STREET 1:** 404 PEOPLE PLACE
- **CITY:** CHARLOTTESVILLE
- **STATE:** VA
- **ZIP:** 22911
- **BUSINESS PHONE:** 434-817-7676

**MAIL ADDRESS:**
- **STREET 1:** 404 PEOPLE PLACE
- **CITY:** CHARLOTTESVILLE
- **STATE:** VA
- **ZIP:** 22911

**As filed with the Securities and Exchange Commission on December 16, 2025** 

**Registration No. 333-** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

## Virginia National Bankshares Corporation
**(Exact name of registrant as specified in its charter)** 

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| | |
|:---|:---|
| **Virginia** | **46-2331578** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**404 People Place** 

**Charlottesville, Virginia 22911** 

**(Address of principal executive offices) (Zip code)** 

**Virginia National Bankshares Corporation Amended and Restated 2022 Stock Incentive Plan** 

**(Full title of the plan)** 

**Glenn W. Rust** 

**Virginia National Bankshares Corporation** 

**404 People Place** 

**Charlottesville, Virginia 22911** 

**(Name and address of agent for service)** 

**(434) 817-8621** 

**(Telephone number, including area code, of agent for service)** 

***Copies to:***

**Scott H. Richter** 

**Benjamin A. McCall** 

**Williams Mullen** 

**200 South 10<sup>th</sup> Street, Suite 1600** 

**Richmond, Virginia 23219** 

**(804) 420-6000** 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

**REGISTRATION OF ADDITIONAL SECURITIES** 

This Registration Statement registers an additional 150,000 shares of common stock of Virginia National Bankshares Corporation (the "Company") that may be offered and sold under the Virginia National Bankshares Corporation Amended and Restated 2022 Stock Incentive Plan (the "Plan"). Pursuant to General Instruction E to Form S-8, the contents of the Company's previously filed Registration Statement on Form S-8 relating to the Plan (File No. 333-270131), filed with the Securities and Exchange Commission on February 28, 2023, including any filings incorporated therein, are hereby incorporated by reference herein to the extent not otherwise amended or superseded by the contents hereof.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 8.** **Exhibits.** <br>

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| | |
|:---|:---|
| Exhibit<br>Number | Description of the Exhibit |
| 4.1 | [Virginia National Bankshares Corporation Amended and Restated 2022 Stock Incentive Plan (incorporated by reference to Appendix A of the Proxy Statement for Annual Meeting of Shareholders held on July 24, 2025, filed on May 30, 2025).](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001572334/000095017025079318/vabk-20250529.htm) |
| 5.1 | [Opinion of Williams Mullen.\*](d42554dex51.htm) |
| 23.1 | [Consent of Yount, Hyde & Barbour, P.C.\*](d42554dex231.htm) |
| 23.2 | [Consent of Williams Mullen (included in Exhibit 5.1).](d42554dex51.htm) |
| 24.1 | [Power of Attorney (included on signature page).](#sig) |
| 107.1 | [Filing Fee Table.\*](d42554dexfilingfees.htm) |

---

**\*** Filed herewith. 

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Charlottesville, Commonwealth of Virginia, on December 16, 2025.

---

| | |
|:---|:---|
| **VIRGINIA NATIONAL BANKSHARES CORPORATION** | **VIRGINIA NATIONAL BANKSHARES CORPORATION** |
| By: | /s/ Glenn W. Rust |
|  | Glenn W. Rust |
|  | President and Chief Executive Officer |

---

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated. Each person whose signature appears below constitutes and appoints Glenn W. Rust, Cathy W. Liles, and Virginia R. Bayes, and each of them singly, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments or post-effective amendments to this registration statement, hereby ratifying and confirming such person's signature as it may be signed by said attorneys to any and all amendments.

---

| | | |
|:---|:---|:---|
| **Signature** | **Capacity** | **Date** |
| /s/ Glenn W. Rust | President and Chief Executive | December 16, 2025 |
| Glenn W. Rust | Officer and Director (Principal Executive Officer) |  |
| /s/ Cathy W. Liles | Executive Vice President and | December 16, 2025 |
| Cathy W. Liles | Chief Financial Officer (Principal Financial and Accounting Officer) |  |
| /s/ William D. Dittmar, Jr. | Chairman of the Board and | December 16, 2025 |
| William D. Dittmar, Jr. | Director |  |
| /s/ John B. Adams, Jr. | Director | December 16, 2025 |
| John B. Adams, Jr. |  |  |
|  | Director | December 16, 2025 |
| Kevin T. Carter |  |  |
| /s/ Hunter E. Craig | Director | December 16, 2025 |
| Hunter E. Craig |  |  |
| /s/ Randolph D. Frostick | Director | December 16, 2025 |
| Randolph D. Frostick |  |  |
| /s/ Linda M. Houston | Director | December 16, 2025 |
| Linda M. Houston |  |  |

---

------

---

| | | |
|:---|:---|:---|
| **Signature** | **Capacity** | **Date** |
| /s/ Jay B. Keyser | Director | December 16, 2025 |
| Jay B. Keyser |  |  |
| /s/ Sterling T. Strange, III | Director | December 16, 2025 |
| Sterling T. Strange, III |  |  |
| /s/ Gregory L. Wells | Director | December 16, 2025 |
| Gregory L. Wells |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**![LOGO](g42554dsp8.jpg)

December 16, 2025

Virginia National Bankshares Corporation

404 People Place

Charlottesville, Virginia 22911

Re: <u>Registration Statement on Form S-8</u>

Ladies and Gentlemen:

We have acted as special counsel to Virginia National Bankshares Corporation, a Virginia corporation (the "Company"), with respect to the offer and sale from time to time of shares of the Company's common stock, par value $2.50 per share (the "Common Stock"), pursuant to the Virginia National Bankshares Corporation Amended and Restated 2022 Stock Incentive Plan (the "Plan"). In such capacity, we have reviewed the Registration Statement on Form S-8 (the "Registration Statement") to be filed by the Company with the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"), to effect the registration of 150,000 additional shares of Common Stock (the "Shares") under the Plan.

In this regard, we have examined the Plan and such corporate proceedings, records and documents as we have deemed necessary or advisable in connection with the opinion set forth herein. In rendering this opinion letter, we have assumed, with your permission and without independent verification or inquiry, the (i) genuineness of all signatures on all documents, (ii) authenticity of all documents submitted to us as originals, (iii) conformity to the authentic originals of all documents submitted to us as copies and (iv) legal capacity of all natural persons. We have also assumed that there are no agreements or understandings between or among the Company and any participants in the Plan that would expand, modify or otherwise affect the terms of the Plan or the respective rights or obligations of the participants thereunder. Finally, we have assumed the accuracy of all other information provided to us by the Company during the course of our investigations, on which we have relied in issuing this opinion letter.

Based on and subject to the foregoing assumptions and other matters, and to the exceptions, exclusions, qualifications and other limitations set forth herein, it is our opinion that the Shares, when issued pursuant to the Registration Statement and in accordance with the terms and conditions of the Plan, will be validly issued, fully paid and non-assessable.

The foregoing opinion is limited in all respects to the application of the laws of the Commonwealth of Virginia, and we express no opinion as to the effect of the laws of any other jurisdiction. Our opinion is expressed as of the date hereof, and we do not assume any obligation to update or supplement our opinion to reflect any fact or circumstance arising, or any change in law occurring, after such date.

We consent to the filing of this opinion letter as an exhibit to the Registration Statement and to the use of our name in the Registration Statement. In giving such consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission.

/s/ WILLIAMS MULLEN

## Exhibit 23.1

**Exhibit 23.1** 

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

We consent to the incorporation by reference in this Registration Statement on Form S-8 of Virginia National Bankshares Corporation of our report dated March 28, 2025, relating to the consolidated financial statements appearing in the Annual Report on Form 10-K of Virginia National Bankshares Corporation for the year ended December 31, 2024.

/s/ Yount, Hyde & Barbour, P.C.

Roanoke, Virginia

December 16, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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| |
|:---|
| **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Virginia National Bankshares Corp**  |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Security Type**  | **Security Class Title**  | **Fee Calculation Rule**  | **Amount Registered**  | **Proposed Maximum Offering Price Per Unit**  | **Maximum Aggregate Offering Price**  | **Fee Rate**  | **Amount of Registration Fee**  |
| 1 | Equity | Common Stock, par value $2.50 per share | Other | 150000 | $39.89 | $5983500.00 | 0.0001381 | $826.33 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $5983500.00  |  | $826.33  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $826.33  |

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 **Offering Note** <br>

<sup>1</sup> (1) Pursuant to Rule 416 under the Securities Act of 1933, as amended (the ''Securities Act''), this Registration Statement on Form S-8 also covers an indeterminate number of additional shares that may be offered or issued under the Virginia National Bankshares Corporation Amended and Restated 2022 Stock Incentive Plan by reason of stock splits, stock dividends, or similar transactions. (2) Estimated pursuant to Rule 457(c) and (h) under the Securities Act solely for the purpose of calculating the amount of the registration fee based upon the average of the high and low prices for a share of the registrant's common stock on December 10, 2025, as reported on The Nasdaq Capital Market. (3) Rounded up to the nearest penny.

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| | |
|:---|:---|
| | |
| **Rule 457(p)** | **Rule 457(p)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |

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