Arrow Financial AROW Insider Ownership

NASDAQ AROW

$38.68 -0.41 (-1.05%)

As of: Sep 9, 2026 · 3:59 PM EDT

Insider Holdings by Owner

1.27Mn Shares

Insider Ownership Statistics

as of 30 Sep, 2026

Insider Ownership

7.86%

▼-1.05% pp QoQ

Shares Held by Insiders

1.29Mn

filed for Sep 2026

▼-11.73% QoQ

Shares Outstanding

16.41Mn

16,406,000 shares

Direct Holdings

1.16Mn

Indirect: 125.17K

Net Shares Traded (QoQ)

-171.45K

net selling in Sep 2026

Insiders Holding Shares

with Form 4 holdings on file

Shares Owned by Insiders

Shares held % of outstanding

Latest —

Average ownership —

Peak ownership —

Shares Purchased/Sold by Insiders

Bought Sold

Latest quarter —

Net over range —

Buying quarters —

Insider Ownership Summary

Quarter ending 30 Sep, 2026

As of September 09, 2026, the three largest insider holders of AROW are Thomas L Hoy (Chairman Ceo, 609.17K shares), Thomas L Hoy (Chairman Ceo, 609.17K shares), Thomas L Hoy (Chairman Ceo, 190.63K shares).

A detailed ownership breakdown for Arrow Financial is not available at this time.
Per Business Quant, insider holdings in AROW make up 889.63% of the company, with 1.46Mn shares held against 16.43Mn outstanding.
Their holdings in Arrow Financial decreased 4.69%, from 1.53Mn shares to 1.46Mn shares over the prior quarter.
Among Arrow Financial's insiders, David S. Demarco (President Ceo) was the top buyer with 7.72K shares acquired between June 11, 2026 and September 09, 2026.
On the selling side, Mark Behan (Director) led at Arrow Financial with 15.29K shares sold during the same 90-day period ending September 09, 2026.

Form 4 Holdings

Insiders Holding AROW

Insiders 24

Shares held 1.27Mn

Of outstanding 7.72%

#	Insider	Position	Direct	Indirect	Total	Share of Insiders	Last Filed
1	Thomas L Hoy	Chairman Ceo	609,171	0	609,171	48.1%	30 May, 2023
2	David S. Demarco	President Ceo	95,530	0	95,530	7.5%	01 Sep, 2026
3	Gary C Dake	Director	64,635	0	64,635	5.1%	09 Apr, 2025
4	David G Kruczlnicki	Director	60,619	0	60,619	4.8%	18 Jun, 2026
5	Thomas J. Murphy	President Ceo	58,919	0	58,919	4.6%	03 Aug, 2021
6	Michael B Clarke	Director	0	43,429	43,429	3.4%	30 Jun, 2022
7	Elizabeth Miller	Director	40,576	0	40,576	3.2%	20 Mar, 2026
8	Colin L Read	Director	33,583	0	33,583	2.7%	22 Jun, 2026
9	Raymond F O'Conor	Svp	31,085	0	31,085	2.5%	06 Aug, 2026
10	Penko Krassimir Ivanov	Sevp, Treasurer And Cfo	31,045	0	31,045	2.4%	02 Feb, 2026
11	Tenee R Casaccio	Director	28,660	0	28,660	2.3%	22 Jun, 2026
12	David D Kaiser	Cco Sevp	26,150	0	26,150	2.1%	03 Feb, 2025
13	Andrew J Wise	Sevp, Chief Risk Officer	25,818	0	25,818	2.0%	02 Feb, 2026
14	James M Dawsey	Director	20,596	0	20,596	1.6%	22 Jun, 2026
15	William L Owens	Director	16,493	0	16,493	1.3%	30 May, 2024
16	Marc Yrsha	Sevp, Chief Banking Officer	14,132	0	14,132	1.1%	02 Feb, 2026
17	Michael Joseph Jacobs	Evp, Chief Information Officer	12,571	0	12,571	1.0%	02 Feb, 2026
18	Gregory J Champion	Director	12,000	0	12,000	0.9%	22 Jun, 2026
19	Mark Behan	Director	10,851	0	10,851	0.9%	18 Aug, 2026
20	Philip C Morris	Director	8,744	0	8,744	0.7%	18 Jun, 2026
21	Daniel James White	Director	8,234	0	8,234	0.6%	22 Jun, 2026
22	Brooke M Pancoe	Evp, Chief Hr Officer	7,145	0	7,145	0.6%	02 Feb, 2026
23	Kristine D Duffy	Director	6,408	0	6,408	0.5%	22 Jun, 2026
24	Darrin Jahnel	Director	821	0	821	0.1%	22 Jun, 2026

Each row is that insider’s most recently reported position, from Form 4 filings over the last 60 months — which is why this total does not tie to the quarterly series above, where a quarter counts only the insiders who filed in it. Shares held through a fund or institutional portfolio are counted on the institutional ownership page instead.

Form 4 Filings

7,221 Insider Transactions

Source SEC Form 4

Latest quarter Sep 2026

Date	Insider	Position	Transaction	Shares	Price	Value	Shares Held After	Ownership
28 Aug, 2026	David S. Demarco	President Ceo	Acquired M	4,379	$30.26	$132.51K	99,238	Direct
28 Aug, 2026	David S. Demarco	President Ceo	Disposed F	3,752	$38.16	$143.18K	95,530	Direct
28 Aug, 2026	David S. Demarco	President Ceo	Disposed M	4,379	$0.00	$0	0	Direct
17 Aug, 2026	David S. Demarco	President Ceo	Acquired M	3,346	$27.04	$90.48K	97,455	Direct
17 Aug, 2026	Mark Behan	Director	Acquired M	1,093	$27.04	$29.55K	11,611	Direct
17 Aug, 2026	Mark Behan	Director	Disposed F	760	$38.86	$29.53K	10,851	Direct
17 Aug, 2026	David S. Demarco	President Ceo	Disposed F	2,596	$39.25	$101.89K	94,859	Direct
17 Aug, 2026	Mark Behan	Director	Disposed M	1,093	$0.00	$0	0	Direct
17 Aug, 2026	David S. Demarco	President Ceo	Disposed M	3,346	$0.00	$0	2,118	Direct
12 Aug, 2026	Mark Behan	Director	Acquired M	1,126	$31.34	$35.29K	11,419	Direct
12 Aug, 2026	Mark Behan	Director	Disposed F	901	$39.13	$35.26K	10,518	Direct
12 Aug, 2026	Mark Behan	Director	Disposed M	1,126	$0.00	$0	0	Direct
06 Aug, 2026	Mark Behan	Director	Acquired M	773	$31.47	$24.33K	10,901	Direct
06 Aug, 2026	Mark Behan	Director	Disposed F	608	$39.97	$24.30K	10,293	Direct
06 Aug, 2026	Mark Behan	Director	Disposed M	773	$0.00	$0	0	Direct
04 Aug, 2026	Raymond F O'Conor	Director	Acquired M	1,061	$33.78	$35.84K	31,963	Direct
04 Aug, 2026	Mark Behan	Director	Acquired M	1,195	$27.47	$32.83K	10,549	Direct
04 Aug, 2026	Raymond F O'Conor	Director	Disposed F	878	$40.79	$35.81K	31,085	Direct
04 Aug, 2026	Mark Behan	Director	Disposed F	804	$40.79	$32.80K	9,745	Direct
04 Aug, 2026	Raymond F O'Conor	Director	Disposed M	1,061	$0.00	$0	0	Direct

Showing 1 to 20 of 7,221 transactions