Arrow Financial (NASDAQ: AROW) director updates holdings to 8,234 shares

Rhea-AI Filing Summary

Arrow Financial Corp director Daniel James White reported a routine equity compensation transaction. On June 17, 2026, he recorded an "other" transaction of 219 shares of Common Stock, tied to a quarterly director's retainer payment valued at $38.49 per share.

A footnote explains the filing also reflects 14 additional shares acquired through the company’s DRIP since March 18, 2026, which had not previously required Form 4 reporting. After these updates, White directly holds a total of 8,234 Arrow Financial shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider White Daniel James

Role null

Type	Security	Shares	Price	Value
Other	Common Stock	219	$38.49	$8K

Holdings After Transaction: Common Stock — 8,234 shares (Direct, null)

Footnotes (1)

1. Quarterly Director's Retainer Payment The information provided reflects 14 shares acquired under the Company's DRIP since March 18, 2026 which were not required to be reported on a Form 4. This information is being furnished to disclose the total holdings of the insider as of the date of this Form 4.

Key Figures

Shares in J transaction: 219 shares Price per share: $38.49 per share Total shares after transaction: 8,234 shares +1 more

4 metrics

Shares in J transaction 219 shares Code J “other” transaction on June 17, 2026

Price per share $38.49 per share Value used for 219-share transaction

Total shares after transaction 8,234 shares Director’s direct holdings following reported updates

Additional DRIP shares 14 shares Acquired under company DRIP since March 18, 2026

Key Terms

Common Stock, Quarterly Director's Retainer Payment, DRIP, Form 4

4 terms

Common Stock financial

"219 shares of Common Stock were reported in the transaction."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Quarterly Director's Retainer Payment financial

"A footnote describes the event as a Quarterly Director's Retainer Payment."

DRIP financial

"The filing notes 14 shares acquired under the Company's DRIP since March 18, 2026."

A DRIP (dividend reinvestment plan) automatically uses cash dividends to buy additional shares of the same company instead of paying the money to the investor. Like using spare change from each paycheck to buy more of something you already own, a DRIP helps holdings grow over time through compounding without requiring the investor to decide each time, which can boost long‑term returns but reduce short‑term cash income.

Form 4 regulatory

"These details are disclosed as of the date of this Form 4."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/22/2026 - 04:45 PM Accepted by SEC EDGAR 06/22/2026 - 04:44 PM Learn about SEC filing dates

FAQ

What did Arrow Financial (AROW) director Daniel James White report on this Form 4?

Director Daniel James White reported a routine equity transaction of 219 shares of Arrow Financial Common Stock as a quarterly director’s retainer payment, plus reflected 14 additional DRIP shares, bringing his directly held total to 8,234 shares after the reported updates.

How many Arrow Financial (AROW) shares were involved in the June 17, 2026 transaction?

The Form 4 shows 219 shares of Arrow Financial Common Stock in a transaction dated June 17, 2026, at $38.49 per share, associated with a quarterly director’s retainer payment rather than an open-market purchase or sale by the director.

What is Daniel James White’s total Arrow Financial (AROW) shareholding after this Form 4?

After the reported activity, including the 219-share retainer grant and 14 additional DRIP shares, Daniel James White directly holds 8,234 shares of Arrow Financial Common Stock, according to the totals disclosed in this Form 4 filing for the director.

How were the 14 additional Arrow Financial (AROW) shares acquired by the director?

A footnote states the 14 Arrow Financial shares were acquired under the company’s DRIP since March 18, 2026. They previously did not require Form 4 reporting and are now included to show the director’s current total holdings.

Was the Arrow Financial (AROW) Form 4 transaction a buy or sell by the director?

The Form 4 classifies the 219-share event as code J, an “other” acquisition or disposition, described as a quarterly director’s retainer payment, not an open-market buy or sell. The filing does not show separate buy or sell codes.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

White Daniel James

(Last) (First) (Middle)

250 GLEN STREET

(Street)

GLENS FALLS NEW YORK 12801

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ARROW FINANCIAL CORP [ AROW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/17/2026		J(1)		219	A	$38.49	8,234(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Quarterly Director's Retainer Payment

2. The information provided reflects 14 shares acquired under the Company's DRIP since March 18, 2026 which were not required to be reported on a Form 4. This information is being furnished to disclose the total holdings of the insider as of the date of this Form 4.

Remarks:

	Penko Ivanov, Attorney in Fact	06/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)