White Daniel James 4

What Happened

• Daniel James White, a director of Arrow Financial Corp. (AROW), acquired 266 shares on March 18, 2026 at $31.76 per share, a total value of approximately $8,448. The filing indicates this was an "other" acquisition reported as a quarterly director's retainer payment.

Key Details

• Transaction date and price: 2026-03-18 — 266 shares @ $31.76 each.
• Transaction value: ~ $8,448.
• Shares owned after transaction: Not specified in the Form 4 (filing furnishes DRIP info but does not state total post-transaction holdings).
• Footnotes: F1 = Quarterly director's retainer payment. F2 notes 13 additional shares were acquired under the company's DRIP since Jan 28, 2026 and are being disclosed to show total holdings, though the filing does not state the aggregate total.
• Filing timeliness: Report filed 2026-03-20 for a 2026-03-18 transaction — appears to be timely (no late-file flag).

Context

• This was not an open-market buy but a compensation-related issuance (retainer payment), commonly used to pay directors. Such issuances are routine and reflect compensation rather than a direct market signal.