O'Conor Raymond F 4

What Happened
Raymond F. O'Conor, a director of Arrow Financial Corp (AROW), was issued 195 shares on 2026-06-17 as an other acquisition (Code J). The shares were valued at $38.49 each, for a total of $7,506. This was a director retainer payment in stock rather than an open-market purchase.

Key Details

• Transaction date and price: 195 shares acquired on 2026-06-17 at $38.49 per share (total $7,506).
• Transaction type: Code J — Other acquisition or disposition; footnote F1 identifies this as the Quarterly Director's Retainer Payment.
• Shares owned after transaction: Not disclosed in the provided filing.
• Filing timing: Report filed 2026-06-22 (5 days after the transaction), which appears later than the typical 2-business-day Form 4 filing requirement.

Context
This was a routine compensation issuance (director retainer paid in stock), not an open-market purchase by the director. Such issuances are common and reflect compensation choices rather than a direct personal buy/sell signal about the insider's sentiment. The dollar value is modest (~$7.5k).