secwatch.observer — SEC 8-K summary
======================================

Issuer:     ARROW FINANCIAL CORP (AROW)
CIK:        0000717538
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0000717538-23-000122
Event type: leadership
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arrow Financial CEO Murphy departs; Nasdaq delisting risk from late filings; DeMarco named CEO
--------------------------------------------------------------------------------

- CEO Thomas Murphy terminated employment and resigned as director effective May 12, 2023.
- David DeMarco appointed President and CEO on May 13; previously Chief Banking Officer and CEO of Saratoga National Bank.
- Nasdaq issued second noncompliance notice for failure to file Q1 2023 10-Q; 2022 10-K also late.
- Company must submit compliance plan by June 2, 2023; Nasdaq may grant extension to Sept 27, 2023; delisting possible.
- Noncompliance does not immediately affect trading, but Nasdaq broadcasts a noncompliance indicator.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717538/000071753823000122/0000717538-23-000122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717538/000071753823000122/arow-20230512.htm
  HTML page:      https://secwatch.observer/filing/0000717538-23-000122

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer