Dawsey James M 4

What Happened

• James M. Dawsey, a director of Arrow Financial Corp (AROW), was granted 818 restricted shares on 2026-01-28. The shares were valued at $32.43 each for a total grant value of $26,528. This transaction is recorded as an award/grant (transaction code A), not an open-market purchase.

Key Details

• Transaction date: 2026-01-28; filing date: 2026-02-04 (file appears to have been filed 7 days after the transaction).
• Grant: 818 restricted shares at $32.43 per share; total value $26,528.
• Vesting: shares vest in three equal installments on Jan 28 of 2027, 2028 and 2029 (Footnote F1).
• Additional holdings disclosed: report furnishes 169 shares acquired under the company’s DRIP since Oct 8, 2025; these DRIP shares were not previously required to be reported (Footnote F2).
• Filing note: this Form 4 was filed several days after the transaction date (may be late under the 2-business-day reporting rule).

Context

• This was a compensation grant (restricted stock award). Such grants are routine for directors and reflect company compensation practices rather than immediate open-market buying or selling. The shares are subject to multi-year vesting, so they are not immediately tradable.