Form 4: Arrow Financial Corp Director Sells 2,000 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Raymond F. O'Conor, a director of Arrow Financial Corp, sold 2,000 shares of common stock at $28.04 per share on October 1, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On October 1, 2024, Raymond F. O'Conor, a director of Arrow Financial Corp, sold 2,000 shares of the company's common stock.
- The sale was executed at a price of $28.04 per share.
- The transaction was conducted under a 10b5-1 trading plan established on May 14, 2024.
- Following the transaction, O'Conor directly owns 41,176 shares of Arrow Financial Corp.
- The sale was reported on a Form 4 filing with the Securities and Exchange Commission (SEC).
Sentiment
Score: 5
Explanation: The document is a routine SEC filing reporting a stock sale by a company director under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Directors and officers often use 10b5-1 plans to sell company stock to avoid accusations of insider trading. These plans are established in advance and allow insiders to sell shares at predetermined times and prices.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
Key Dates
| Date | Description |
|---|---|
| May 14, 2024 | Date the 10B5-1 Plan was established by the Reporting Person |
| October 01, 2024 | Date of the transaction (stock sale) |
| October 02, 2024 | Date of signature on the Form 4 filing |
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