Ramsey Lara E 4

What Happened

• Lara E. Ramsey, President & CEO of National Bankshares, was granted/awarded a total of 1,228 restricted stock units (RSUs): 967 RSUs acquired on 2026-02-11 and 261 RSUs acquired on 2026-02-14. Each award shows an acquisition price of $0.00, indicating these are compensation RSUs rather than a market purchase or sale.
• These awards do not represent an immediate cash purchase or sale; vesting conditions apply (see Key Details). No aggregate dollar value is reported in the filing because awards were granted at $0 exercise price.

Key Details

• Transaction dates & amounts: 02/11/2026 — 967 RSUs (A, $0.00); 02/14/2026 — 261 RSUs (A, $0.00). Total awarded: 1,228 RSUs.
• Vesting / footnotes: Footnote F1 reports satisfaction of the performance-based component of RSUs granted 02/14/2025, but a time-based component still must be satisfied. Footnote F2 states the RSU grant vests in three equal installments beginning February 11, 2027.
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Filing info: Form 4 filed with accession 0001706710-26-000001 on 2026-02-17 (contains the above awards).

Context

• These are restricted stock unit awards (compensation), not open-market purchases or sales; they typically convert to actual shares only as vesting conditions are met. Performance-component satisfaction means one condition was met, but time-based vesting remains, so shares are not all immediately transferable.
• For retail investors: awards signal executive compensation and retention incentives rather than immediate voting/liquid holdings. Purchases often convey stronger, direct insider conviction than compensation grants.