Form 4 Filing for O'Conor Raymond F

Raymond F. O'Conor, a director at ARROW FINANCIAL CORP, reported transactions on December 19, 2025. He acquired 1093 shares of Common Stock through the exercise of a Director Stock Option at a price of $27.04 per share. This option, which vested in four equal annual installments starting January 27, 2022, had an exercise price of $27.04 and an expiration date of January 27, 2031. Following this acquisition, O'Conor disposed of 925 shares of Common Stock at $31.93 per share. The net result of these transactions was an increase in his post-transaction shares to 30776, followed by a decrease to 29851 shares. The option exercise resulted in 0 shares held post-transaction, with 1093 underlying shares of Common Stock.