Colin L. Read - 01 Feb 2023 Form 4 Insider Report for ARROW FINANCIAL CORP (AROW)

Role: Director
Signature: Thomas J. Murphy, Attorney in Fact
Issuer symbol: AROW
Transactions as of: 01 Feb 2023
Net transactions value: -$9,745
Form type: 4
Filing time: 02 Feb 2023, 18:15:04 UTC
Previous filing: 01 Feb 2023
Next filing: 06 Feb 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	Sale	$9,745	-300	-2.9%	$32.48	10,019	02 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	Director Stock Option (Right to Buy)	Award	$0	+1,000		$0.000000	1,000	01 Feb 2023	Common Stock	1,000	$32.41	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Open market sale pursuant to a 10B5-1 Plan which was established by Reporting Person on November 29, 2022 in accordance with Rule 10B5-1 of the Securities Exchange Act of 1934, as amended.
F2	The options vests in four equal installments beginning February 01, 2024