Andrew J. Wise - 10 Dec 2025 Form 4 Insider Report for ARROW FINANCIAL CORP (AROW)

Role: SEVP, Chief Risk Officer
Signature: Penko Ivanov, Attorney in Fact
Issuer symbol: AROW
Transactions as of: 10 Dec 2025
Net transactions value: +$19.68
Form type: 4
Filing time: 12 Dec 2025, 16:15:31 UTC
Previous filing: 02 Jun 2025
Next filing: 02 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Wise Andrew J	SEVP, Chief Risk Officer	250 GLEN STREET, GLENS FALLS	Penko Ivanov, Attorney in Fact	12 Dec 2025	0001729837

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AROW	Common Stock	Options Exercise	$94,180	+3,483	+17%	$27.04	23,968	10 Dec 2025	Direct
transaction	AROW	Common Stock	Tax liability	$94,161	-2,976	-12%	$31.64	21,725	10 Dec 2025	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The information provided reflects 218 shares acquired under the Company's DRIP, 515 shares acquired via ESPP purchases May 29, 2025. This information is being furnished to disclose the total holdings of the insider as of the date of this Form 4.