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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K Annual Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31 , 2020 Transition Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number : 0-15204 Virginia NATIONAL BANKSHARES , INC . ( Exact name of registrant as specified in its charter ) ( State or other jurisdiction of incorporation or organization ) Title of each class Common Stock , par value $ 1.25 per share 101 Hubbard Street Blacksburg , Virginia 24062-9002 ( Address of principal executive offices ) ( 540 ) 951-6300 ( Registrant's telephone number , including area code ) Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol ( s ) NKSH 54-1375874 ( I.R.S. Employer Identification No. ) Name of each exchange on which registered Nasdaq Capital Market Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes □ No ☑ Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No □ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( $ 232.405 of this chapter ) during the preceding 12 months ( or for such period that the registrant was required to submit files ) . Yes No □ 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 . Large accelerated filer Smaller reporting company Emerging growth company Accelerated filer Non - accelerated filer 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 13 ( a ) of the Exchange Act Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . Yes No ☑ The aggregate market value of the voting common stock of the registrant held by non - affiliates of the registrant on June 30 , 2020 ( the last business day of the most recently completed second fiscal quarter ) was approximately $ 185,601,816 . As of March 8 , 2021 , the registrant had 6,388,120 shares of voting common stock outstanding . DOCUMENTS INCORPORATED BY REFERENCE Portions of the following document are incorporated herein by reference into the Part of the Form 10 - K indicated . Document National Bankshares , Inc. Proxy Statement for the 2021 Annual Meeting of Stockholders Part of Form 10 - K into which incorporated Part III