Andrew J. Wise - 01 Feb 2023 Form 4 Insider Report for ARROW FINANCIAL CORP (AROW)

Role: SVP, Chief Operating Officer
Signature: Thomas J. Murphy, Attorney in Fact
Issuer symbol: AROW
Transactions as of: 01 Feb 2023
Net transactions value: $0
Form type: 4
Filing time: 02 Feb 2023, 18:10:48 UTC
Previous filing: 18 Aug 2022
Next filing: 24 Nov 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	AROW	Common Stock						5,985	01 Feb 2023	Direct	F1

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)	Award	$0	+5,000		$0.000000	5,000	01 Feb 2023	Common Stock	5,000	$32.41	Direct	F2

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

Explanation of Responses:

Id	Content
F1	This information provided reflects 438 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 February 01, 2024