Behan Mark 4

What Happened

Mark Behan, a director of Arrow Financial Corp (AROW), acquired 246 shares on March 18, 2026 at $31.76 per share, for a total value of $7,813. The transaction is reported as an "other acquisition" tied to his director compensation (quarterly retainer), not an open-market purchase.

Key Details

• Transaction date: 2026-03-18; reported on Form 4 filed 2026-03-20 (timely filing).
• Price and amount: 246 shares at $31.76 per share; total value $7,813.
• Transaction code: J (other acquisition/disposition) — here used for a director retainer payment (see footnote F1).
• Additional disclosure (F2): The filing notes 84 shares acquired under the company’s DRIP since Jan 28, 2026 that were not required to be reported on a Form 4; this is furnished to disclose total holdings as of the Form 4 date.
• Shares owned after transaction: the Form 4 does not state a total resulting holding; the filing adds the 84 DRIP shares to the disclosure but does not provide a full post-transaction total.

Context

This was a compensation-related issuance (director retainer and DRIP shares), not an open-market buy or sale. Such acquisitions reflect routine compensation arrangements and should be interpreted differently from voluntary purchases or sales by insiders. The filing appears timely (filed two days after the transaction date).