Casaccio Tenee R 4

What Happened
Tenee R. Casaccio, a director of Arrow Financial Corp. (AROW), received a grant of 818 restricted shares on January 28, 2026. The shares were valued at $32.43 each, for a total grant value of approximately $26,528. This was an award/grant (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-01-28; Price per share reported: $32.43; Total value: ~$26,528. (Transaction code: A = Award/Grant)
• Vesting: The restricted stock vests in three equal installments on Jan 28, 2027; Jan 28, 2028; and Jan 28, 2029. (Footnote F1)
• Additional holdings disclosed: The filing furnishes that 231 shares were acquired under the company’s DRIP since Oct 8, 2025; these were not required to be reported on a Form 4 but are included to disclose total holdings as of the report date. (Footnote F2)
• Shares owned after transaction: not explicitly stated in the filing beyond the furnished DRIP disclosure.
• Filing timeliness: Form filed on 2026-02-04 for a 2026-01-28 transaction — this appears to be later than the typical two-business-day reporting window.

Context
This was a compensation-related restricted stock grant, which is routine for directors and does not represent an open-market purchase or sale. The multi-year vesting schedule means the recipient must remain a director through the vesting dates to realize the full award.