Arrow Financial reaches preliminary settlement of shareholder derivative suit; no material financial impact

ARROW FINANCIAL CORP

Court preliminarily approved settlement on Oct 22, 2025; final hearing set for Jan 12, 2026.
Suit alleged breach of fiduciary duties over defective internal controls and delayed SEC filings.
Settlement requires adoption of corporate governance reforms; no monetary payment to company.
Company states settlement has no material impact on results of operations or financial position.
Plaintiff's counsel may seek up to $5,000 service award and legal fees from the company.

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