secwatch.observer — SEC 8-K summary
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Issuer:     ARROW FINANCIAL CORP (AROW)
CIK:        0000717538
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0000717538-24-000026
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arrow Financial CEO salary raised to $695K; three other execs get raises in new employment agreements
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- CEO David DeMarco's new 3-year agreement (eff. Feb 1) sets base salary at $695,000, +$120K from prior.
- EVPs Kaiser, Wise each get $365K (+$40K) and CFO Ivanov gets $410K (+$20K) under new 2-year deals.
- Change-of-control severance for CEO equals 3x (base + target bonus); for other execs 2x, paid over 2 years.
- All agreements include non-competition clauses and annual board review for renewal on equivalent terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/717538/000071753824000026/0000717538-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/717538/000071753824000026/arow-20240201.htm
  HTML page:      https://secwatch.observer/filing/0000717538-24-000026

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