secwatch.observer — SEC 8-K summary
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Issuer:     ARROW FINANCIAL CORP (AROW)
CIK:        0000717538
Form:       8-K
Filed at:   2022-10-06T23:59:59+00:00
Accession:  0000717538-22-000199
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arrow Financial enters consulting agreement with former CFO Campanella at $5K/week
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- Edward Campanella resigned as SVP/CFO Sept 30; consulting agreement starts Oct 1, runs through March 31, 2023.
- Compensation: $5,000 per week for 10-12 hours/week of transition services; plus out-of-pocket expenses.
- Campanella accepted CFO role at a Massachusetts community bank (Outside Employer) during the Services Period.
- Noncompete restricts work for NY-based depository institutions over $100M or direct competitors of Arrow.
- Stock option vesting does not continue during the consulting term; agreement can be terminated with 14 days' notice.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717538/000071753822000199/0000717538-22-000199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717538/000071753822000199/arow-20221001.htm
  HTML page:      https://secwatch.observer/filing/0000717538-22-000199

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