Form 4: Arrow Financial Corp Executive Exercises Stock Options and Disposes of Shares
SEC Form 4 Filing
Andrew J. Wise, SEVP and Chief Risk Officer of Arrow Financial Corp, executed stock options and disposed of shares to cover tax obligations.
Summary
- On November 7, 2024, Andrew J. Wise, SEVP, Chief Risk Officer of Arrow Financial Corp, exercised employee stock options to purchase 5,953 shares of common stock at exercise prices of $27.04 and $27.35.
- He then disposed of 5,061 shares of common stock at a price of $32.05 to cover tax obligations related to the option exercises.
- Following these transactions, Wise directly owns 14,433 shares of Arrow Financial Corp common stock and holds options to purchase 1,367 shares.
- The transactions included the acquisition of 610 shares under the Company's DRIP and ESPP.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document simply reports transactions by an insider, which is a normal part of corporate activity.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Key Dates
| Date | Description |
|---|---|
| 01/30/2019 | Grant date for options vesting 25% per year over four years starting one year from the grant date. |
| 01/27/2021 | Grant date for options vesting 25% per year over four years starting one year from the grant date. |
| 01/27/2031 | Expiration date for some employee stock options. |
| 01/30/2029 | Expiration date for some employee stock options. |
| 11/07/2024 | Date of the transactions: exercising stock options and disposing of shares. |
| 11/08/2024 | Date of the signature on the Form 4 filing. |
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