secwatch.observer — SEC 8-K summary
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Issuer:     ARROW FINANCIAL CORP (AROW)
CIK:        0000717538
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0000717538-23-000135
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arrow Financial raises CEO DeMarco's salary to $575k, CFO Ivanov to $390k in amended employment
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- CEO David DeMarco amended employment: base salary $575,000, target cash bonus 50%, term through Jan 31, 2026.
- CFO Penko Ivanov appointed Senior Executive Vice President; base salary increased to $390,000 in new agreement.
- DeMarco's agreement effective May 13, 2023, replaces prior deal; board to review 3-year renewal each February anniversary.
- Ivanov continues as Treasurer and CFO; amended agreement dated July 18, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717538/000071753823000135/0000717538-23-000135-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717538/000071753823000135/arow-20230718.htm
  HTML page:      https://secwatch.observer/filing/0000717538-23-000135

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