Form 4 Filing for ARROW FINANCIAL CORP

This SEC filing details a transaction by Morris Philip C, a director at ARROW FINANCIAL CORP (AROW). On May 19, 2026, Morris Philip C acquired 386 shares of Common Stock at a price of $31.47 per share, increasing his post-transaction holdings to 8494 shares. Additionally, the filing reports the exercise of a stock option for 386 shares of Common Stock, with an exercise price of $31.47. This option exercise, which vested in four equal annual installments starting February 1, 2024, resulted in 129 shares remaining post-transaction. The transaction was reported on Form 4 and signed by Philip C Morris on May 21, 2026.