Arrow Financial director logs routine Form 4 entry

ARROW FINANCIAL CORP director Darrin Jahnel reported a routine compensation-related share transaction.

Rhea-AI Filing Summary

ARROW FINANCIAL CORP director Darrin Jahnel reported a routine compensation-related share transaction. On June 17, 2026, he had 286 shares of common stock reported at $38.49 per share under a transaction coded "J" for other acquisition or disposition.

A footnote explains this represents a Quarterly Director's Retainer Payment, so it is non-market compensation rather than an open-market trade. Another footnote notes that the total also reflects 4 shares acquired through the company’s dividend reinvestment plan, bringing his direct holdings to 821 common shares as of this Form 4.

Insider Trade Summary

Other: 286 shares

Other 1 txn

Insider Jahnel Darrin

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	286	$38.49	$11K

Holdings After Transaction: Common Stock — 821 shares (Direct)

Footnotes (2)

1. F1. Quarterly Director's Retainer Payment
2. F2. The information provided reflects 4 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

Transaction shares: 286 shares Referenced price per share: $38.49 per share Total shares after transaction: 821 shares +1 more

4 metrics

Transaction shares 286 shares Common Stock, transaction coded J on June 17, 2026

Referenced price per share $38.49 per share Value associated with the 286-share transaction

Total shares after transaction 821 shares Director’s direct holdings as of this Form 4

DRIP shares included 4 shares Acquired under the Company’s DRIP since March 18, 2026

Key Terms

Form 4, Quarterly Director's Retainer Payment, DRIP, Common Stock, +1 more

5 terms

Form 4 regulatory

"This information is being furnished to disclose the total holdings of the insider 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.

Quarterly Director's Retainer Payment financial

"Quarterly Director's Retainer Payment"

DRIP financial

"4 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.

Common Stock financial

"security_title: "Common Stock""

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.

transaction code J regulatory

"transaction_code: "J" ... transaction_code_description: "Other acquisition or disposition""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Arrow Financial (AROW) director Darrin Jahnel report?

Director Darrin Jahnel reported 286 shares of Arrow Financial common stock tied to a coded "J" transaction. A footnote states this represents a quarterly director’s retainer payment, making it a routine, non-market compensation entry rather than a typical open-market purchase or sale.

Was the Arrow Financial (AROW) Form 4 transaction an open-market buy or sell?

The Form 4 does not show an open-market buy or sell. Code "J" indicates another type of transaction, and a footnote clarifies it is a quarterly director’s retainer payment, meaning the shares were received as compensation instead of being bought or sold in the market.

How many Arrow Financial (AROW) shares does Darrin Jahnel hold after this Form 4?

After the reported transaction, Darrin Jahnel directly holds 821 shares of Arrow Financial common stock. A footnote explains this total includes 4 shares acquired under the company’s dividend reinvestment plan since March 18, 2026, which were not previously reportable on Form 4.

What price per share is referenced in Darrin Jahnel’s Arrow Financial (AROW) Form 4?

The Form 4 references a value of $38.49 per share for the 286 common shares tied to the transaction. This figure appears in the transaction details, though the filing describes the event as a quarterly director’s retainer payment rather than a standard market trade at that price.

What does the Form 4 footnote say about Arrow Financial (AROW) DRIP shares?

A footnote states that 4 shares were acquired under Arrow Financial’s dividend reinvestment plan since March 18, 2026. These DRIP shares were not required to be reported previously, and are included now to show Darrin Jahnel’s total direct holdings as of this Form 4 filing date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/22/2026 - 04:48 PM EDT Learn about SEC filing dates

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^*

Jahnel Darrin

(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)		286	A	$38.49	821(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 4 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)