Form 4: Arrow Financial Corp Director Sells 2,000 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Raymond F. O'Conor, a director at Arrow Financial Corp, sold 2,000 shares of common stock at $32.69 per share on December 2, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Raymond F. O'Conor, a director of Arrow Financial Corp, sold 2,000 shares of the company's common stock on December 2, 2024.
- The sale was executed at a price of $32.69 per share.
- This transaction was conducted under a pre-established 10b5-1 trading plan.
- Following the sale, O'Conor directly owns 37,859 shares of Arrow Financial Corp.
- The 10b5-1 plan was established on May 14, 2024.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of an insider stock sale under a pre-arranged plan, which is neither positive nor negative in itself. It is a neutral event.
Risks
- Sales by insiders can sometimes be perceived negatively by the market, potentially impacting the stock price.
Industry Context
Insider trading activity is a common occurrence in the financial industry, and Form 4 filings are a standard way to disclose these transactions to the public. The use of a 10b5-1 plan indicates that the sale was pre-planned and not based on any non-public information.
Comparison to Industry Standards
- Form 4 filings are a standard practice for reporting insider transactions in publicly traded companies, as mandated by the SEC.
- The use of a 10b5-1 plan is a common strategy for corporate insiders to avoid accusations of trading on non-public information, and is widely used by directors and officers of public companies.
- The sale of 2,000 shares is a relatively small transaction compared to the total outstanding shares of Arrow Financial Corp, and is unlikely to have a significant impact on the stock price.
Stakeholder Impact
- The sale may have a minor impact on shareholder sentiment, but is unlikely to significantly affect the stock price due to the small volume and pre-planned nature of the transaction.
Key Dates
| Date | Description |
|---|---|
| 2024-05-14 | Date the 10b5-1 trading plan was established by Raymond F. O'Conor. |
| 2024-12-02 | Date of the stock sale transaction. |
| 2024-12-03 | Date of the signature on the Form 4 filing. |
Keywords
insider trading, Form 4, 10b5-1 plan, stock sale, Arrow Financial Corp, director, Raymond F. O'Conor
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