Form 4: Arrow Financial Corp Director Sells 2,000 Shares Under 10b5-1 Plan

Raymond F. O'Conor, a director of Arrow Financial Corp, sold 2,000 shares of common stock at $28.50 per share on November 4, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On November 4, 2024, Raymond F. O'Conor, a director at Arrow Financial Corp, sold 2,000 shares of the company's common stock.
• The sale was executed at a price of $28.50 per share.
• The transaction was conducted under a pre-existing 10b5-1 trading plan established on May 14, 2024.
• Following the sale, O'Conor directly owns 39,496 shares of Arrow Financial Corp.
• The sale was an open market sale.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any specific non-public information, resulting in a neutral sentiment.

Industry Context

Sales by insiders are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates