Arrow Financial Corporation
Ownership
Ownership Structure
Who owns Arrow Financial Corporation (AROW)? This page shows the largest institutions and funds, the ownership structure and the latest insider transactions. 87.4% of the shares are freely tradable; institutional investors hold 56.9%.
Largest Shareholders
Institutions
| Name | Stake (%) | Shares | Change (%) | Date |
|---|---|---|---|---|
| ARROW FINANCIAL CORP(Junk) | 10.04 | 1,859,963 | -1.0 | 06/30/2026 |
| BlackRock Inc | 7.56 | 1,399,785 | +11.9 | 06/30/2026 |
| Rhino Investment Partners, Inc. | 4.58 | 847,563 | +0.0 | 06/30/2026 |
| Dimensional Fund Advisors, Inc. | 3.92 | 725,492 | -0.7 | 06/30/2026 |
| Vanguard Capital Management, LLC | 3.37 | 623,719 | -2.2 | 06/30/2026 |
| State Street Corp | 2.65 | 490,098 | +44.9 | 06/30/2026 |
| American Century Companies Inc | 2.34 | 432,990 | +26.1 | 06/30/2026 |
Funds
| Name | Stake (%) | Shares | Change (%) | Date |
|---|---|---|---|---|
| Vanguard MStar Total Stk Mkt Idx Invest | 2.70 | 499,254 | +12.2 | 09/30/2026 |
| iShares Russell 2000 ETF | 2.47 | 457,247 | +0.8 | 09/30/2026 |
| Avantis US Small Cap Value ETF | 2.34 | 433,698 | +0.2 | 09/30/2026 |
Largest reported positions according to regulatory filings; stake as a percentage of shares outstanding, change versus the previous filing. Source: fundamentals data.
Insider holdings
| Person | Role | Shares | Value | As of | Type |
|---|---|---|---|---|---|
| DeMarco David S. | President & CEO | 95,826 | 3,698,884 $ | Sep 4, 2026 | direct |
| Kruczlnicki David G | Director | 60,847 | 2,348,694 $ | Sep 23, 2026 | direct |
| Read Colin L | Director | 33,777 | 1,303,792 $ | Sep 23, 2026 | direct |
| O'Conor Raymond F | Director | 31,148 | 1,202,313 $ | Sep 23, 2026 | direct |
| Casaccio Tenee R | Director | 29,169 | 1,125,923 $ | Sep 23, 2026 | direct |
| Dawsey James M | Director | 21,137 | 815,888 $ | Sep 23, 2026 | direct |
| Arcuri Rocco F Sr. | Director | 16,066 | 620,148 $ | Sep 23, 2026 | direct |
| Champion Gregory J | Director | 12,505 | 482,693 $ | Sep 23, 2026 | direct |
| Behan Mark | Director | 11,112 | 428,923 $ | Sep 23, 2026 | direct |
| Morris Philip C | Director | 9,006 | 347,632 $ | Sep 23, 2026 | direct |
| White Daniel James | Director | 8,478 | 327,251 $ | Sep 23, 2026 | direct |
| Duffy Kristine D | Director | 6,624 | 255,686 $ | Sep 23, 2026 | direct |
| Jahnel Darrin | Director | 1,124 | 43,386 $ | Sep 23, 2026 | direct |
Holdings as of each person's most recent SEC Form 4 filing — excluding options and RSUs, which are not shares yet. Holdings may have changed between two filings.
Insiders
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 23, 2026 | Arcuri Rocco F Sr. | Director | Other | 186 | 36.97 | 6,876 |
| Sep 23, 2026 | Jahnel Darrin | Director | Other | 298 | 36.97 | 11,017 |
| Sep 23, 2026 | White Daniel James | Director | Other | 228 | 36.97 | 8,429 |
| Sep 23, 2026 | Dawsey James M | Director | Other | 389 | 36.97 | 14,381 |
| Sep 23, 2026 | Morris Philip C | Director | Other | 203 | 36.97 | 7,505 |
| Sep 23, 2026 | Duffy Kristine D | Director | Other | 203 | 36.97 | 7,505 |
| Sep 23, 2026 | Behan Mark | Director | Other | 211 | 36.97 | 7,801 |
| Sep 23, 2026 | Casaccio Tenee R | Director | Other | 304 | 36.97 | 11,239 |
| Sep 23, 2026 | Read Colin L | Director | Other | 194 | 36.97 | 7,172 |
| Sep 23, 2026 | O'Conor Raymond F | Director | Other | 203 | 36.97 | 7,505 |
| Sep 23, 2026 | Champion Gregory J | Director | Other | 423 | 36.97 | 15,638 |
| Sep 23, 2026 | Kruczlnicki David G | Director | Other | 228 | 36.97 | 8,429 |
| Sep 4, 2026 | DeMarco David S. | President & CEO | Other | 1,504 | 39.57 | 59,513 |
| Sep 4, 2026 | DeMarco David S. | President & CEO | Other | 1,771 | 30.26 | 53,590 |
| Sep 3, 2026 | O'Conor Raymond F | Director | Other | 140 | 0.00 | – |
| Aug 28, 2026 | DeMarco David S. | President & CEO | Other | 3,752 | 38.16 | 143,176 |
| Aug 28, 2026 | DeMarco David S. | President & CEO | Other | 4,379 | 30.26 | 132,509 |
| Aug 17, 2026 | Behan Mark | Director | Other | 760 | 38.86 | 29,534 |
| Aug 17, 2026 | Behan Mark | Director | Other | 1,093 | 27.04 | 29,555 |
| Aug 17, 2026 | DeMarco David S. | President & CEO | Other | 2,596 | 39.25 | 101,893 |
| Aug 17, 2026 | DeMarco David S. | President & CEO | Other | 3,346 | 27.04 | 90,476 |
| Aug 12, 2026 | Behan Mark | Director | Other | 901 | 39.13 | 35,256 |
| Aug 12, 2026 | Behan Mark | Director | Other | 1,126 | 31.34 | 35,289 |
| Aug 6, 2026 | Behan Mark | Director | Other | 608 | 39.97 | 24,302 |
| Aug 6, 2026 | Behan Mark | Director | Other | 773 | 31.47 | 24,326 |
| Aug 4, 2026 | Behan Mark | Director | Other | 777 | 40.79 | 31,694 |
| Aug 4, 2026 | Behan Mark | Director | Other | 1,160 | 27.35 | 31,726 |
| Aug 4, 2026 | Behan Mark | Director | Other | 804 | 40.79 | 32,795 |
| Aug 4, 2026 | Behan Mark | Director | Other | 1,195 | 27.47 | 32,827 |
| Aug 4, 2026 | O'Conor Raymond F | Director | Other | 878 | 40.79 | 35,814 |
| Aug 4, 2026 | O'Conor Raymond F | Director | Other | 1,061 | 33.78 | 35,841 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character. View all insider transactions →
Data as of: November 3, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.