Director Tenee R. Casaccio of Arrow Financial Corp filed a Form 4 on November 9, 2026, disclosing two transactions in common stock on November 5, 2026, involving the exercise of director stock options and a related share withholding.

Key Highlights

  • Option exercise: Casaccio acquired 1,231 shares of Arrow Financial Corp common stock on November 5, 2026, via an option exercise (transaction code M) at a price of $30.26 per share.
  • Shares withheld: 964 shares were disposed of on the same date (transaction code F) at $38.61 per share, reducing the position after the exercise.
  • Resulting ownership: Following both transactions, Casaccio directly beneficially owned 29,436 shares of common stock.
  • Derivative position closed: The exercised Director Stock Option (Right to Buy), with an exercise price of $30.26 and an expiration date of January 25, 2027, was reduced to zero remaining derivative securities.
  • Vesting note: According to the filing, the options vested in four equal installments beginning January 25, 2018.
  • Filing agent: The form was signed by Penko Ivanov as Attorney in Fact on November 9, 2026.

Casaccio Option Exercise and Share Withholding at Arrow Financial

According to the filing, Arrow Financial Corp (NASDAQ:AROW) director Tenee R. Casaccio exercised 1,231 Director Stock Options on November 5, 2026, acquiring 1,231 shares of common stock at the exercise price of $30.26 per share. The transaction was coded M, indicating an exercise or conversion of a derivative security. Prior to the exercise, Casaccio's direct beneficial ownership stood at 30,400 shares, as reported in Table I of the filing.

On the same date, the filing discloses that 964 shares were disposed of under transaction code F at a price of $38.61 per share. Transaction code F typically denotes payment of an exercise price or tax liability by forfeiting shares, though the filing does not elaborate further on the purpose. Following both transactions, Casaccio's direct beneficial ownership in Arrow Financial common stock totaled 29,436 shares, according to the filing.

The underlying derivative security, a Director Stock Option (Right to Buy) with a conversion price of $30.26, carried an expiration date of January 25, 2027, and was listed with a price of $0 in Table II. The filing notes that the options vest in four equal installments beginning January 25, 2018. After the exercise, zero derivative securities of this type remain beneficially owned by the reporting person, the filing states.

What Was Disclosed

The Form 4 filed on November 9, 2026 discloses that Arrow Financial Corp director Tenee R. Casaccio exercised 1,231 stock options and had 964 shares withheld on November 5, 2026, leaving a direct beneficial ownership of 29,436 common shares.