Arrow Financial (AROW) Director Gregory J. Champion Buys 423 Shares

What Happened

• Gregory J. Champion, a director of Arrow Financial Corp (AROW), acquired 423 shares on September 23, 2026. The shares were reported at $36.97 per share for a total value of $15,638. The filing lists the transaction as an "other acquisition" and ties it to the quarterly director's retainer and the company’s DRIP.

Key Details

• Transaction date and price: 2026-09-23 — 423 shares at $36.97 per share (total $15,638).
• Transaction type/code: Other acquisition (code J); footnote F1 indicates this was the quarterly director’s retainer payment.
• Additional disclosure: Footnote F2 notes 82 shares were acquired under the company’s Dividend Reinvestment Plan (DRIP) since June 17, 2026; this was furnished to disclose total holdings as of the Form 4 date.
• Shares owned after transaction: The filing’s summary information references total holdings, but a specific total share count after this transaction is not provided in the summary.
• Filing timeliness: Form 4 was filed on 2026-09-25 for a 2026-09-23 transaction (filed within the typical 2-business-day window).

Context

• This was not an open-market purchase: the shares were issued as part of a director retainer and supplemented by DRIP-acquired shares. Such non-open-market acquisitions are routine forms of director compensation and differ from discretionary market buys. Purchases by insiders can be informative, but transactions tied to compensation plans or DRIPs generally reflect standard corporate practices rather than active investment decisions.