Brooke M. Pancoe - 28 Jan 2026 Form 4 Insider Report for ARROW FINANCIAL CORP (AROW)

Role: EVP, Chief HR Officer
Signature: Penko Ivanov, Attorney in Fact
Issuer symbol: AROW
Transactions as of: 28 Jan 2026
Net transactions value: +$78,027
Form type: 4
Filing time: 02 Feb 2026, 16:45:27 UTC
Previous filing: 03 Feb 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Pancoe Brooke M	EVP, Chief HR Officer	250 GLEN STREET, GLENS FALLS	Penko Ivanov, Attorney in Fact	02 Feb 2026	0002017645

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AROW	Common Stock	Award	$78,027	+2,406	+51%	$32.43	7,145	28 Jan 2026	Direct	F1, F2
holding	AROW	Common Stock						25	28 Jan 2026	Held by spounse	F3

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

Explanation of Responses:

Id	Content
F1	The restricted stock vests 25% per year on January 28, 2027, January 28, 2028, January 28, 2029, and January 28, 2030.
F2	The information provided reflects an increase of 1,775 shares related to the 2024 ESOP allocation.
F3	The reporting person disclaims beneficial ownership of these securities and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for any purpose.