Director's Retainer Payment for Common Stock

Raymond F. O'Conor, a director at ARROW FINANCIAL CORP, acquired 236 shares of Common Stock on March 18, 2026, for a price of $31.76 per share. This acquisition was part of a Quarterly Director's Retainer Payment. Following this transaction, O'Conor now owns 30,755 shares of Common Stock. The transaction code was 'J', indicating a purchase, and the ownership is direct.