Arrow Financial CEO exercises 4,379 stock options
DeMarco’s Form 4 shows the CEO exercised options on Aug. 28, netting 627 new shares after price and tax share withholding.
Rhea-AI Filing Summary
ARROW FINANCIAL CORP (AROW) reported insider equity activity by President & CEO David S. DeMarco. On 2026-08-28 he exercised 4,379 Employee Stock Options at an exercise price of $30.26 per share, receiving 4,379 shares of common stock. On the same date, 3,752 common shares were delivered or withheld at $38.16 per share for payment of exercise price or tax liability, resulting in a net acquisition of 627 shares from this option exercise. He also reported 3,035 common shares held indirectly through a 401(k) plan, and a footnote notes 44 shares acquired under the company’s DRIP since 2026-08-17 to reflect total holdings as of this Form 4.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,379 shares exercised/converted
Exercise
4 txns
Insider
DeMarco David S.
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) F2 | 4,379 | $0.00 | $0.00 |
| Exercise | Common Stock | 4,379 | $30.26 | $133K |
| Exercise Price or Tax Liability | Common Stock F1 | 3,752 | $38.16 | $143K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (Right to Buy) — 0 contracts (Direct);
Common Stock — 95,530 shares (Direct);
Common Stock — 3,035 shares (Indirect, By 401(k))
Footnotes (2)
- F1. The information provided reflects 44 shares acquired under the Company's DRIP, since August 17, 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.
- F2. The options vested in four equal installments beginning January 25, 2018.
Key Figures
Options exercised: 4,379 shares
Exercise price: $30.26 per share
Shares delivered/withheld for exercise price or tax liability: 3,752 shares at $38.16 per share
+4 more
7 metrics
Options exercised
4,379 shares
Employee Stock Option (Right to Buy) exercised on 2026-08-28
Exercise price
$30.26 per share
Exercise or conversion of derivative security on 4,379 options
Shares delivered/withheld for exercise price or tax liability
3,752 shares at $38.16 per share
Code F transaction on common stock on 2026-08-28
Net shares from option exercise before other holdings
627 shares
4,379 shares received less 3,752 shares delivered or withheld
Indirect 401(k) holdings
3,035 shares
Common stock held indirectly by 401(k) as of 2026-08-28
DRIP shares referenced
44 shares
Shares acquired under the Company’s DRIP since 2026-08-17
Option expiration date
2027-01-25
Expiration date of the exercised Employee Stock Option grant
Key Terms
Employee Stock Option, Payment of exercise price or tax liability by delivering or withholding securities, DRIP, 401(k)
4 terms
Employee Stock Option financial
"security_title: "Employee Stock Option (Right to Buy)""
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
Payment of exercise price or tax liability by delivering or withholding securities financial
"transaction_code_description: "Payment of exercise price or tax liability by delivering""
DRIP financial
"acquired under the Company's DRIP, since August 17, 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.
401(k) financial
"nature_of_ownership: "By 401(k)""
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
FAQ
What insider transaction did AROW’s President & CEO report on this Form 4?
David S. DeMarco reported exercising 4,379 stock options on 2026-08-28 at an exercise price of $30.26 per share, receiving 4,379 common shares, and related share withholding for payment of exercise price or tax liability.
How many AROW options did the CEO exercise and at what price?
He exercised 4,379 Employee Stock Options covering 4,379 shares of Arrow Financial Corp common stock at an exercise price of $30.26 per share on 2026-08-28.
What indirect AROW holdings did the CEO report?
He reported indirect ownership of 3,035 common shares of Arrow Financial Corp held “By 401(k)” as of the Form 4 date, in addition to directly held shares.
What does the DRIP footnote disclose for AROW’s CEO?
A footnote states that the reported information reflects 44 shares acquired under the company’s Dividend Reinvestment Plan (DRIP) since 2026-08-17, furnished to show the insider’s total holdings as of this Form 4.
AI-generated analysis. How Rhea-AI works. Not financial advice.
