Miller Elizabeth 4
4 · ARROW FINANCIAL CORP · Filed Feb 4, 2026
Research Summary
AI-generated summary of this filing
Arrow Financial (AROW) Director Elizabeth Miller Receives Award
What Happened Elizabeth Miller, a director of Arrow Financial Corp (AROW), was granted 818 restricted shares on January 28, 2026 (transaction code A) at a reported per-share value of $32.43, for a total value of $26,528. This was a compensation award of restricted stock rather than an open-market purchase or sale.
Key Details
- Transaction date and price: 2026-01-28 — 818 shares at $32.43 each (total $26,528).
- Vesting: The restricted stock vests in three equal installments on Jan 28 of 2027, 2028 and 2029 (Footnote F1).
- Additional holdings disclosure: The filing also furnishes that 146 shares were acquired under the company’s DRIP since Oct 8, 2025; these were included to disclose total holdings (F2).
- Beneficial ownership disclaimer: The reporting person disclaims beneficial ownership of these securities (F3).
- Filing timeliness: The Form 4 was filed on Feb 4, 2026 for a Jan 28, 2026 transaction; this appears to be later than the standard 2-business-day reporting window for insiders.
Context This was a restricted stock award (compensation) that vests over three years. Awards like this are routine for insiders and reflect compensation arrangements rather than an immediate market buy or sell; they do not by themselves indicate near-term buying or selling intent.
Insider Transaction Report
Form 4
Miller Elizabeth
Director
Transactions
- Award
Common Stock
[F1][F2]2026-01-28$32.43/sh+818$26,528→ 39,985 total
Holdings
- 5,847(indirect: By Partnership)
Common Stock
[F3]
Footnotes (3)
- [F1]The restricted stock vests in 3 equal installments on each of January 28, 2027, January 28, 2028, and January 28, 2029.
- [F2]The information provided reflects 146 shares acquired under the Company's DRIP since October 08, 2025 which were not required to be reported on a Form 4. This information is being furnished to disclose the total holdings of the insider as of the date of this Form 4.
- [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.
Signature
Penko Ivanov, Attorney in Fact|2026-02-03