Behan Mark 4

What Happened

• Mark Behan, a director of Arrow Financial Corp (AROW), executed two transactions on June 17, 2026. He sold 4,110 shares in an open-market sale at $38.59 each for proceeds of $158,605. On the same day he acquired 203 shares (reported as “other acquisition”) at $38.49 each for $7,813—reported as a quarterly director’s retainer payment.

Key Details

• Transaction dates and prices:
  • 2026-06-17: Open-market sale (S) — 4,110 shares @ $38.59 = $158,605 (disposed)
  • 2026-06-17: Other acquisition (J) — 203 shares @ $38.49 = $7,813 (acquired)
• Footnotes:
  • F1: The 203-share acquisition reflects the quarterly director’s retainer payment.
  • F2: The filing also discloses 84 shares acquired under the company’s DRIP since March 18, 2026; these were previously not required to be reported and are being furnished to show total holdings.
• Shares owned after transaction: The provided filing details the DRIP addition (84 shares) but does not specify the insider’s aggregate holdings in the supplied data.
• Timeliness: The Form 4 was filed on 2026-06-22 for transactions on 2026-06-17 (filed five days later), which appears to be a late filing relative to the typical two-business-day reporting requirement.

Context

• The sale was an open-market disposition and the 203-share acquisition was a director retainer payment; such sales by directors are often routine and do not by themselves indicate a change in company outlook. The DRIP shares disclosed were previously exempt from reporting but are being included to clarify total holdings.