Andrew J. Wise - Aug 17, 2022 Form 4 Insider Report for ARROW FINANCIAL CORP (AROW)

Role: SVP, Chief Operating Officer
Signature: Thomas J. Murphy, Attorney in Fact
Stock symbol: AROW
Transactions as of: Aug 17, 2022
Transactions value $: $11,820
Form type: 4
Date filed: 8/18/2022, 11:12 AM
Previous filing: Jun 13, 2022
Next filing: Feb 2, 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AROW	Common Stock	Tax liability	-$29K	-821	-16.55%	$35.36	4.14K	Aug 17, 2022	Direct	F1
transaction	AROW	Common Stock	Options Exercise	$11.8K	+406	+9.8%	$29.14	4.55K	Aug 17, 2022	Direct
transaction	AROW	Common Stock	Options Exercise	$29K	+1K	+21.99%	$29.02	5.55K	Aug 17, 2022	Direct

Showing 1 to 3 of 3 entries

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AROW	Employee Stock Option (Right to Buy)	Options Exercise	$0	-406	-100%	$0.00^*	0	Aug 17, 2022	Common Stock	406	$29.14	Direct	F2
transaction	AROW	Employee Stock Option (Right to Buy)	Award	$0	+1K	+36.46%	$0.00	3.74K	Aug 17, 2022	Common Stock	1K	$29.02	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This information reflects 146 shares acquired under the Company's DRIP 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 option vests in four equal annual installments beginning January 31, 2019
F3	The option vests in four equal annual installments beginning January 29, 2020