ARROW FINANCIAL CORP — Director's Dealing 2025

Feb 3, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2025-01-29

Reporting Person: O'Conor Raymond F (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-01-29	Common Stock	A	905	—	Acquired	37022	Direct
2025-02-03	Common Stock	S	2000	$25.28	Disposed	35022	Direct

Footnotes

F1: The restricted award vests in 3 equal installments on each of January 29, 2026, January 29, 2027, and January 29, 2028.

F2: Open market sale pursuant to a 10B5-1 Plan which was established by Reporting Person on May 14, 2024 in accordance with Rule 10B5-1 of the Securities Exchange Act of 1934, as amended.