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ARROW FINANCIAL CORP. 2023-2024 Proxy Voting Records

Compiled from SEC Form N-PX filings and ARROW FINANCIAL CORP.’s Form 8-K, filed 2023-10-27 (Item 5.07 on EDGAR). Page generated 02 October 2026.

17Reported items
168Asset managers
2,520Fund votes
2023-10-25Main meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore ARROW FINANCIAL CORP. in the interactive database Compare manager voting policies

Official 2023-2024 meeting results reported by ARROW FINANCIAL CORP.

These tallies are ARROW FINANCIAL CORP.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2023-10-27 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX. ARROW FINANCIAL CORP. reported 2 meetings in this season; each is tabulated separately below, with its own filing.

ARROW FINANCIAL CORP. — official shareholder meeting results, meeting held 2023-10-25 (Form 8-K, filed 2023-10-27)
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Mark L. Behan	8,551,705	--	--	509,448	3,479,593	Majority: yes
Elect Director: Gregory J. Champion	8,349,365	--	--	711,788	3,479,593	Majority: yes
Elect Director: Elizabeth A. Miller	8,210,040	--	--	851,113	3,479,593	Majority: yes
Elect Director: William L. Owens	5,584,517	--	--	3,476,636	3,479,593	Majority: yes
Elect Director: David S. DeMarco	8,673,016	--	--	388,137	3,479,593	Majority: yes
Elect Director: Executive Compensation	8,020,726	862,312	178,115	--	3,479,593	Majority: yes
Proposal 4: The approval of the Arrow Financial Corporation 2023 Directors' Stock Plan.	8,165,099	637,849	258,205	--	3,479,593	Majority: yes
Elect Director: KPMG LLP	11,803,025	556,086	181,635	--	--	Majority: yes

Source: ARROW FINANCIAL CORP., Form 8-K, filed with the SEC on 2023-10-27 — read the filing on EDGAR.

ARROW FINANCIAL CORP. — official shareholder meeting results, meeting held 2024-06-05 (Form 8-K, filed 2024-06-06)
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: David S. DeMarco	7,350,315	--	--	295,595	3,545,669	Majority: yes
Elect Director: David G. Kruczlnicki	6,716,368	--	--	929,542	3,545,669	Majority: yes
Elect Director: Raymond R. O'Conor	7,288,854	--	--	357,056	3,545,669	Majority: yes
Elect Director: Crowe LLP	10,949,858	79,391	162,330	--	--	Majority: yes

Source: ARROW FINANCIAL CORP., Form 8-K, filed with the SEC on 2024-06-06 — read the filing on EDGAR.

How asset managers voted at the ARROW FINANCIAL CORP. 2023-2024 meetings

Each item below shows how the 168 asset managers that disclosed a ARROW FINANCIAL CORP. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of ARROW FINANCIAL CORP.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. To approve, on an advisory basis, a resolution relating to the 2023 executive compensation ("Say-on-Pay").

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2024-06-05.

Combines 9 wordings of this item as funds reported it.

91% fund support · no official result

FOR 91%9%

The 150 asset managers below cast 91% of the shares they voted on this item FOR (5,800,143 for, 565,670 against).

FOR: 5,800,143 (91.1%)AGAINST: 565,670 (8.9%)

Largest asset managers voting on “To approve, on an advisory basis, a resolution relating to the 2023 executive compensation ("Say-on-Pay").” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Against	Vote
BlackRock	1,016,307	6,754	For
Vanguard	797,194	0	For
Dimensional	629,229	0	For
American Century	0	472,147	Against
GEODE CAPITAL MANAGEMENT, LLC	342,376	0	For
Fidelity	320,218	0	For
Charles Schwab	260,878	0	For
Voya	256,843	0	For
Renaissance	236,884	0	For
Northern Trust	136,428	0	For
FRANKLIN MUTUAL ADVISERS LLC	133,847	0	For
FRANKLIN VALUE INVESTORS TRUST	133,847	0	For
ROCKEFELLER FINANCIAL LLC	115,890	0	For
State Street	112,429	35	For
PARAMETRIC PORTFOLIO ASSOCIATES LLC	97,809	0	For
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC	95,130	0	For
Invesco	69,545	0	For
MELLON INVESTMENTS Corp	61,625	0	For
Nuveen	58,183	0	For
TIAA	57,676	0	For
TRUST CO OF VERMONT	57,306	0	For
WisdomTree	54,994	0	For
Goldman Sachs	43,990	0	For
Eaton Vance	41,380	0	For
Equitable	40,392	0	For

Showing the 25 largest of 150 asset managers. See all 150 in the interactive database.

2. Approve, on an advisory basis, the frequency with which shareholders may vote on the Company's executive compensation (i.e. "Say-on-Pay").

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2023-10-25.

Combines 7 wordings of this item as funds reported it.

100% fund support · no official result

ONE YEAR 93%

The 129 asset managers below cast 100% of the shares they voted on this item FOR. Fund share totals are not shown for this item: fund-reported shares overlap across filings (an adviser and the funds it manages can each report the same shares), and here their sum exceeds the company's reported shares outstanding.

FOR: 0.1%ONE YEAR: 92.7%THREE YEARS: 3.8%1 YEAR: 3.3%3 YEARS: 0.1%2 YEARS: 0.0%

Largest asset managers voting on “Approve, on an advisory basis, the frequency with which shareholders may vote on the Company's executive compe” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Against	Abstain	Withheld	Vote
Janus Henderson	0	0	0	0	One Year
BlackRock	0	0	0	0	One Year
Vanguard	0	0	0	0	One Year
Dimensional	0	0	0	0	Three Years
GEODE CAPITAL MANAGEMENT, LLC	0	0	0	0	One Year
Fidelity	0	0	0	0	One Year
American Century	0	0	0	0	One Year
Charles Schwab	0	0	0	0	1 Year
Renaissance	0	0	0	0	One Year
Voya	0	0	0	0	One Year
FRANKLIN MUTUAL ADVISERS LLC	0	0	0	0	One Year
FRANKLIN VALUE INVESTORS TRUST	0	0	0	0	One Year
State Street	0	0	0	0	One Year
ROCKEFELLER FINANCIAL LLC	0	0	0	0	1 Year
MELLON INVESTMENTS Corp	0	0	0	0	One Year
Two Sigma	0	0	0	0	One Year
Nuveen	0	0	0	0	One Year
TIAA	0	0	0	0	One Year
WisdomTree	0	0	0	0	One Year
JOHNSON INVESTMENT COUNSEL INC	0	0	0	0	One Year
TRUST CO OF VERMONT	0	0	0	0	1 Year
Invesco	0	0	0	0	One Year
PARAMETRIC PORTFOLIO ASSOCIATES LLC	0	0	0	0	One Year
JOHNSON MUTUAL FUNDS TRUST	0	0	0	0	One Year
T. Rowe Price	0	0	0	0	One Year

Showing the 25 largest of 129 asset managers. See all 129 in the interactive database.

3. To approve, on an advisory basis, a resolution relating to the 2022 compensation for our named executive officers (i.e. the "Say-on-Pay" vote).

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2023-10-25.

Combines 7 wordings of this item as funds reported it.

90% Majority: yes · of votes cast

FOR 90%10%

FOR: 8,020,726AGAINST: 862,312

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Executive Compensation”): 8,020,726 for, 862,312 against, per its Form 8-K filed 2023-10-27 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 47.9% for, 5% against (53.1% of the company cast a for/against vote).

The 127 asset managers below cast 99% of the shares they voted on this item FOR. Fund share totals are not shown for this item: fund-reported shares overlap across filings (an adviser and the funds it manages can each report the same shares), and here their sum exceeds the company's reported shares outstanding.

FOR 99%

FOR: 98.9%AGAINST: 1.1%ABSTAIN: 0.0%

Largest asset managers voting on “To approve, on an advisory basis, a resolution relating to the 2022 compensation for our named executive offic” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Against	Vote
Janus Henderson	11,000,000	0	For
BlackRock	1,130,555	0	For
Vanguard	790,508	0	For
Dimensional	628,513	0	For
GEODE CAPITAL MANAGEMENT, LLC	305,014	0	For
Fidelity	293,503	0	For
American Century	284,354	0	For
Charles Schwab	235,446	0	For
Renaissance	224,951	0	For
Voya	200,322	0	For
FRANKLIN MUTUAL ADVISERS LLC	152,802	0	For
FRANKLIN VALUE INVESTORS TRUST	152,802	0	For
State Street	118,200	0	For
ROCKEFELLER FINANCIAL LLC	110,890	0	For
MELLON INVESTMENTS Corp	0	74,112	Against
Two Sigma	68,614	0	For
Nuveen	66,898	0	For
TIAA	66,655	0	For
WisdomTree	0	61,047	Against
JOHNSON INVESTMENT COUNSEL INC	60,032	0	For
TRUST CO OF VERMONT	56,188	0	For
Invesco	55,269	0	For
PARAMETRIC PORTFOLIO ASSOCIATES LLC	54,533	0	For
JOHNSON MUTUAL FUNDS TRUST	53,978	0	For
T. Rowe Price	49,082	0	For

Showing the 25 largest of 127 asset managers. See all 127 in the interactive database.

4. APPROVAL OF THE ARROW FINANCIAL CORPORATION 2023 EMPLOYEE STOCK PURCHASE PLAN.

COMPENSATION

Meeting held 2024-06-05.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 55 asset managers below cast 100% of the shares they voted on this item FOR (3,373,757 for, 0 against).

FOR: 3,373,757 (100.0%)

Largest asset managers voting on “APPROVAL OF THE ARROW FINANCIAL CORPORATION 2023 EMPLOYEE STOCK PURCHASE PLAN.” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Vote
Vanguard	784,330	For
BlackRock	601,060	For
Dimensional	548,700	For
Fidelity	319,133	For
American Century	235,480	For
FRANKLIN VALUE INVESTORS TRUST	133,847	For
Charles Schwab	130,439	For
Voya	107,356	For
TIAA	57,666	For
WisdomTree	54,994	For
Equitable	40,392	For
JOHNSON MUTUAL FUNDS TRUST	35,597	For
Invesco	32,487	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	For
QUANTITATIVE MASTER SERIES LLC	27,075	For
EA Series Trust	26,885	For
State Street	25,396	For
Principal	24,611	For
Columbia Threadneedle	14,200	For
Lincoln Financial	14,138	For
Northern Trust	11,954	For
T. Rowe Price	10,861	For
Goldman Sachs	8,460	For
First Trust	8,125	For
Prudential/PGIM	8,100	For

Showing the 25 largest of 55 asset managers. See all 55 in the interactive database.

5. To elect each of the following three (3) persons as Class B directors for a term of three (3) years, each to serve until their successors have been duly elected and qualified: David S. DeMarco

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-06-05.

Combines 3 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 7,350,315WITHHELD: 295,595

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: David S. DeMarco”): 7,350,315 for, 295,595 withheld, per its Form 8-K filed 2024-06-06 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 44% for, 2% withheld (45.7% of the company cast a for/withheld vote).

The 54 asset managers below cast 100% of the shares they voted on this item FOR (3,371,597 for, 0 against).

FOR 99.9%

FOR: 3,371,597 (100.0%)ABSTAIN: 1,336 (0.0%)

Largest asset managers voting on “To elect each of the following three (3) persons as Class B directors for a term of three (3) years, each to s” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	784,330	0	For
BlackRock	601,060	0	For
Dimensional	548,700	0	For
Fidelity	319,133	0	For
American Century	235,480	0	For
FRANKLIN VALUE INVESTORS TRUST	133,847	0	For
Charles Schwab	130,439	0	For
Voya	107,356	0	For
TIAA	57,666	0	For
WisdomTree	54,994	0	For
Equitable	40,392	0	For
JOHNSON MUTUAL FUNDS TRUST	35,597	0	For
Invesco	32,487	0	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,075	0	For
EA Series Trust	26,885	0	For
State Street	25,324	72	For
Principal	24,611	0	For
Columbia Threadneedle	14,200	0	For
Lincoln Financial	14,138	0	For
Northern Trust	11,954	0	For
T. Rowe Price	10,861	0	For
Goldman Sachs	8,460	0	For
First Trust	8,125	0	For
Prudential/PGIM	8,100	0	For

Showing the 25 largest of 54 asset managers. See all 54 in the interactive database.

6. To elect each of the following three (3) persons as Class B directors for a term of three (3) years, each to serve until their successors have been duly elected and qualified: Raymond F. O'Conor

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-06-05.

Combines 3 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 7,288,854WITHHELD: 357,056

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Raymond R. O'Conor”): 7,288,854 for, 357,056 withheld, per its Form 8-K filed 2024-06-06 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 44% for, 2% withheld (45.7% of the company cast a for/withheld vote).

The 54 asset managers below cast 100% of the shares they voted on this item FOR (3,333,506 for, 0 against).

FOR 99%

FOR: 3,333,506 (98.8%)ABSTAIN: 39,427 (1.2%)

Largest asset managers voting on “To elect each of the following three (3) persons as Class B directors for a term of three (3) years, each to s” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	784,330	0	For
BlackRock	601,060	0	For
Dimensional	548,700	0	For
Fidelity	319,133	0	For
American Century	235,480	0	For
FRANKLIN VALUE INVESTORS TRUST	133,847	0	For
Charles Schwab	130,439	0	For
Voya	107,356	0	For
TIAA	57,666	0	For
WisdomTree	54,994	0	For
Equitable	24,961	15,431	For
JOHNSON MUTUAL FUNDS TRUST	35,597	0	For
Invesco	32,487	0	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,075	0	For
EA Series Trust	26,885	0	For
State Street	25,324	72	For
Principal	24,611	0	For
Columbia Threadneedle	0	14,200	Abstain
Lincoln Financial	14,138	0	For
Northern Trust	11,954	0	For
T. Rowe Price	10,861	0	For
Goldman Sachs	0	8,460	Abstain
First Trust	8,125	0	For
Prudential/PGIM	8,100	0	For

Showing the 25 largest of 54 asset managers. See all 54 in the interactive database.

7. TO RATIFY THE SELECTION OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM CROWE LLP AS THE COMPANY'S INDEPENDENT AUDITOR FOR THE FISCAL YEAR ENDING DECEMBER 31, 2024.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2024-06-05.

Combines 2 wordings of this item as funds reported it.

99.2% Majority: yes · of votes cast

FOR 99.2%

FOR: 10,949,858AGAINST: 79,391

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Crowe LLP”): 10,949,858 for, 79,391 against, per its Form 8-K filed 2024-06-06 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 65% for, 0.5% against (66% of the company cast a for/against vote).

The 54 asset managers below cast 99.2% of the shares they voted on this item FOR (3,345,996 for, 26,937 against).

FOR 99.2%

FOR: 3,345,996 (99.2%)AGAINST: 26,937 (0.8%)

Largest asset managers voting on “TO RATIFY THE SELECTION OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM CROWE LLP AS THE COMPANY'S INDEPE” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Against	Vote
Vanguard	784,330	0	For
BlackRock	601,060	0	For
Dimensional	548,700	0	For
Fidelity	319,133	0	For
American Century	235,480	0	For
FRANKLIN VALUE INVESTORS TRUST	133,847	0	For
Charles Schwab	130,439	0	For
Voya	107,356	0	For
TIAA	57,666	0	For
WisdomTree	54,994	0	For
Equitable	40,392	0	For
JOHNSON MUTUAL FUNDS TRUST	35,597	0	For
Invesco	32,487	0	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,075	0	For
EA Series Trust	0	26,885	Against
State Street	25,396	0	For
Principal	24,611	0	For
Columbia Threadneedle	14,200	0	For
Lincoln Financial	14,138	0	For
Northern Trust	11,954	0	For
T. Rowe Price	10,861	0	For
Goldman Sachs	8,460	0	For
First Trust	8,125	0	For
Prudential/PGIM	8,100	0	For

Showing the 25 largest of 54 asset managers. See all 54 in the interactive database.

8. APPROVAL OF THE ARROW FINANCIAL CORPORATION 2023 DIRECTORS' STOCK PLAN.

COMPENSATIONMajority of the votes cast: yes

Meeting held 2023-10-25.

Combines 5 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%7%

FOR: 8,165,099AGAINST: 637,849

ARROW FINANCIAL CORP.’s own tally for this item (“Proposal 4: The approval of the Arrow Financial Corporation 2023 Directors' Stock Plan.”): 8,165,099 for, 637,849 against, per its Form 8-K filed 2023-10-27 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 48.8% for, 4% against (52.6% of the company cast a for/against vote).

The 45 asset managers below cast 100% of the shares they voted on this item FOR (3,150,086 for, 0 against).

FOR 99.9%

FOR: 3,150,086 (100.0%)ABSTAIN: 1,030 (0.0%)

Largest asset managers voting on “APPROVAL OF THE ARROW FINANCIAL CORPORATION 2023 DIRECTORS' STOCK PLAN.” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Vote
Vanguard	765,484	For
BlackRock	588,149	For
Dimensional	551,377	For
Fidelity	292,857	For
FRANKLIN VALUE INVESTORS TRUST	152,802	For
American Century	142,177	For
Charles Schwab	117,723	For
Voya	85,839	For
TIAA	66,655	For
WisdomTree	61,047	For
JOHNSON MUTUAL FUNDS TRUST	53,978	For
Equitable	40,765	For
State Street	31,133	For
Invesco	26,098	For
QUANTITATIVE MASTER SERIES LLC	24,027	For
EA Series Trust	20,830	For
T. Rowe Price	15,709	For
Bridge Builder Trust	15,078	For
Lincoln Financial	13,728	For
Northern Trust	11,567	For
Goldman Sachs	8,694	For
John Hancock	7,770	For
AIG/SunAmerica	7,176	For
Pacific Life	6,548	For
Jackson National	6,311	For

Showing the 25 largest of 45 asset managers. See all 45 in the interactive database.

9. To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Class B director for a term of one (1) year, each to serve until their successors have been duly elected and qualified: David S. DeMarco

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2023-10-25.

Combines 5 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 8,673,016WITHHELD: 388,137

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: David S. DeMarco”): 8,673,016 for, 388,137 withheld, per its Form 8-K filed 2023-10-27 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 51.8% for, 2% withheld (54.1% of the company cast a for/withheld vote).

The 44 asset managers below cast 100% of the shares they voted on this item FOR (3,140,919 for, 0 against).

FOR 99.7%

FOR: 3,140,919 (99.7%)ABSTAIN: 8,753 (0.3%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Cl” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	765,484	0	For
BlackRock	588,149	0	For
Dimensional	551,377	0	For
Fidelity	292,857	0	For
FRANKLIN VALUE INVESTORS TRUST	152,802	0	For
American Century	142,177	0	For
Charles Schwab	117,723	0	For
Voya	85,839	0	For
TIAA	66,655	0	For
WisdomTree	61,047	0	For
JOHNSON MUTUAL FUNDS TRUST	53,978	0	For
Equitable	40,765	0	For
State Street	31,133	0	For
Invesco	26,098	0	For
QUANTITATIVE MASTER SERIES LLC	24,027	0	For
EA Series Trust	20,830	0	For
T. Rowe Price	15,709	0	For
Bridge Builder Trust	6,325	8,753	Abstain
Lincoln Financial	13,728	0	For
Northern Trust	11,567	0	For
Goldman Sachs	8,694	0	For
John Hancock	7,770	0	For
AIG/SunAmerica	7,176	0	For
Pacific Life	6,548	0	For
Jackson National	6,311	0	For

Showing the 25 largest of 44 asset managers. See all 44 in the interactive database.

10. To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Class B director for a term of one (1) year, each to serve until their successors have been duly elected and qualified: Elizabeth A. Miller

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2023-10-25.

Combines 5 wordings of this item as funds reported it.

91% Majority: yes · of votes cast

FOR 91%9%

FOR: 8,210,040WITHHELD: 851,113

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Elizabeth A. Miller”): 8,210,040 for, 851,113 withheld, per its Form 8-K filed 2023-10-27 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 49.0% for, 5% withheld (54.1% of the company cast a for/withheld vote).

The 44 asset managers below cast 100% of the shares they voted on this item FOR (2,981,608 for, 0 against).

FOR 95%

FOR: 2,981,608 (94.7%)ABSTAIN: 168,064 (5.3%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Cl” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	765,484	0	For
BlackRock	588,149	0	For
Dimensional	551,377	0	For
Fidelity	292,857	0	For
FRANKLIN VALUE INVESTORS TRUST	152,802	0	For
American Century	142,177	0	For
Charles Schwab	117,723	0	For
Voya	85,839	0	For
TIAA	0	66,655	Abstain
WisdomTree	0	61,047	Abstain
JOHNSON MUTUAL FUNDS TRUST	53,978	0	For
Equitable	26,093	14,672	For
State Street	31,133	0	For
Invesco	26,098	0	For
QUANTITATIVE MASTER SERIES LLC	24,027	0	For
EA Series Trust	20,830	0	For
T. Rowe Price	0	15,709	Abstain
Bridge Builder Trust	6,325	8,753	Abstain
Lincoln Financial	13,728	0	For
Northern Trust	11,567	0	For
Goldman Sachs	8,694	0	For
John Hancock	7,770	0	For
AIG/SunAmerica	7,176	0	For
Pacific Life	6,548	0	For
Jackson National	6,311	0	For

Showing the 25 largest of 44 asset managers. See all 44 in the interactive database.

11. To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Class B director for a term of one (1) year, each to serve until their successors have been duly elected and qualified: Gregory J. Champion

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2023-10-25.

Combines 5 wordings of this item as funds reported it.

92% Majority: yes · of votes cast

FOR 92%8%

FOR: 8,349,365WITHHELD: 711,788

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Gregory J. Champion”): 8,349,365 for, 711,788 withheld, per its Form 8-K filed 2023-10-27 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 49.9% for, 4% withheld (54.1% of the company cast a for/withheld vote).

The 44 asset managers below cast 100% of the shares they voted on this item FOR (3,042,655 for, 0 against).

FOR 97%

FOR: 3,042,655 (96.6%)ABSTAIN: 107,017 (3.4%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Cl” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	765,484	0	For
BlackRock	588,149	0	For
Dimensional	551,377	0	For
Fidelity	292,857	0	For
FRANKLIN VALUE INVESTORS TRUST	152,802	0	For
American Century	142,177	0	For
Charles Schwab	117,723	0	For
Voya	85,839	0	For
TIAA	0	66,655	Abstain
WisdomTree	61,047	0	For
JOHNSON MUTUAL FUNDS TRUST	53,978	0	For
Equitable	26,093	14,672	For
State Street	31,133	0	For
Invesco	26,098	0	For
QUANTITATIVE MASTER SERIES LLC	24,027	0	For
EA Series Trust	20,830	0	For
T. Rowe Price	0	15,709	Abstain
Bridge Builder Trust	6,325	8,753	Abstain
Lincoln Financial	13,728	0	For
Northern Trust	11,567	0	For
Goldman Sachs	8,694	0	For
John Hancock	7,770	0	For
AIG/SunAmerica	7,176	0	For
Pacific Life	6,548	0	For
Jackson National	6,311	0	For

Showing the 25 largest of 44 asset managers. See all 44 in the interactive database.

12. To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Class B director for a term of one (1) year, each to serve until their successors have been duly elected and qualified: Mark L. Behan

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2023-10-25.

Combines 5 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 8,551,705WITHHELD: 509,448

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Mark L. Behan”): 8,551,705 for, 509,448 withheld, per its Form 8-K filed 2023-10-27 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 51.1% for, 3% withheld (54.1% of the company cast a for/withheld vote).

The 44 asset managers below cast 100% of the shares they voted on this item FOR (3,133,963 for, 0 against).

FOR 99.5%

FOR: 3,133,963 (99.5%)ABSTAIN: 15,709 (0.5%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Cl” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	765,484	0	For
BlackRock	588,149	0	For
Dimensional	551,377	0	For
Fidelity	292,857	0	For
FRANKLIN VALUE INVESTORS TRUST	152,802	0	For
American Century	142,177	0	For
Charles Schwab	117,723	0	For
Voya	85,839	0	For
TIAA	66,655	0	For
WisdomTree	61,047	0	For
JOHNSON MUTUAL FUNDS TRUST	53,978	0	For
Equitable	40,765	0	For
State Street	31,133	0	For
Invesco	26,098	0	For
QUANTITATIVE MASTER SERIES LLC	24,027	0	For
EA Series Trust	20,830	0	For
T. Rowe Price	0	15,709	Abstain
Bridge Builder Trust	15,078	0	For
Lincoln Financial	13,728	0	For
Northern Trust	11,567	0	For
Goldman Sachs	8,694	0	For
John Hancock	7,770	0	For
AIG/SunAmerica	7,176	0	For
Pacific Life	6,548	0	For
Jackson National	6,311	0	For

Showing the 25 largest of 44 asset managers. See all 44 in the interactive database.

13. To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Class B director for a term of one (1) year, each to serve until their successors have been duly elected and qualified: William L. Owens

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2023-10-25.

Combines 5 wordings of this item as funds reported it.

62% Majority: yes · of votes cast

FOR 62%WITHHELD 38%

FOR: 5,584,517WITHHELD: 3,476,636

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: William L. Owens”): 5,584,517 for, 3,476,636 withheld, per its Form 8-K filed 2023-10-27 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 33% for, 21% withheld (54.1% of the company cast a for/withheld vote).

The 44 asset managers below cast 100% of the shares they voted on this item FOR (1,570,511 for, 0 against).

FOR 49.9%ABSTAIN 50.1%

FOR: 1,570,511 (49.9%)ABSTAIN: 1,579,161 (50.1%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class A directors for a term of three (3) years, and one Cl” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	765,484	0	For
BlackRock	588,149	0	For
Dimensional	0	551,377	Abstain
Fidelity	4,884	287,973	Abstain
FRANKLIN VALUE INVESTORS TRUST	0	152,802	Abstain
American Century	0	142,177	Abstain
Charles Schwab	117,723	0	For
Voya	0	85,839	Abstain
TIAA	0	66,655	Abstain
WisdomTree	0	61,047	Abstain
JOHNSON MUTUAL FUNDS TRUST	0	53,978	Abstain
Equitable	26,093	14,672	For
State Street	0	31,133	Abstain
Invesco	0	26,098	Abstain
QUANTITATIVE MASTER SERIES LLC	24,027	0	For
EA Series Trust	20,830	0	For
T. Rowe Price	0	15,709	Abstain
Bridge Builder Trust	6,325	8,753	Abstain
Lincoln Financial	0	13,728	Abstain
Northern Trust	0	11,567	Abstain
Goldman Sachs	8,694	0	For
John Hancock	0	7,770	Abstain
AIG/SunAmerica	0	7,176	Abstain
Pacific Life	6,548	0	For
Jackson National	0	6,311	Abstain

Showing the 25 largest of 44 asset managers. See all 44 in the interactive database.

14. TO RATIFY THE APPOINTMENT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM KPMG LLP AS THE COMPANY'S INDEPENDENT AUDITOR FOR THE FISCAL YEAR ENDING DECEMBER 31, 2023.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2023-10-25.

Combines 3 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 11,803,025AGAINST: 556,086

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: KPMG LLP”): 11,803,025 for, 556,086 against, per its Form 8-K filed 2023-10-27 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 70% for, 3% against (74% of the company cast a for/against vote).

The 44 asset managers below cast 99.9% of the shares they voted on this item FOR (3,149,632 for, 40 against).

FOR 99.9%

FOR: 3,149,632 (100.0%)AGAINST: 40 (0.0%)

Largest asset managers voting on “TO RATIFY THE APPOINTMENT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM KPMG LLP AS THE COMPANY'S INDEP” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Vote
Vanguard	765,484	For
BlackRock	588,149	For
Dimensional	551,377	For
Fidelity	292,857	For
FRANKLIN VALUE INVESTORS TRUST	152,802	For
American Century	142,177	For
Charles Schwab	117,723	For
Voya	85,839	For
TIAA	66,655	For
WisdomTree	61,047	For
JOHNSON MUTUAL FUNDS TRUST	53,978	For
Equitable	40,765	For
State Street	31,133	For
Invesco	26,098	For
QUANTITATIVE MASTER SERIES LLC	24,027	For
EA Series Trust	20,830	For
T. Rowe Price	15,709	For
Bridge Builder Trust	15,078	For
Lincoln Financial	13,728	For
Northern Trust	11,567	For
Goldman Sachs	8,694	For
John Hancock	7,770	For
AIG/SunAmerica	7,176	For
Pacific Life	6,548	For
Jackson National	6,311	For

Showing the 25 largest of 44 asset managers. See all 44 in the interactive database.

15. To elect each of the following three (3) persons as Class B directors for a term of three (3) years, each to serve until their successors have been duly elected and qualified: David G. Krucz nicki

DIRECTOR ELECTIONS

Meeting held 2024-06-05.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 94%

The 40 asset managers below cast 100% of the shares they voted on this item FOR (2,960,176 for, 0 against).

FOR: 2,960,176 (94.3%)ABSTAIN: 179,092 (5.7%)

Largest asset managers voting on “To elect each of the following three (3) persons as Class B directors for a term of three (3) years, each to s” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	784,330	0	For
BlackRock	601,060	0	For
Dimensional	548,700	0	For
Fidelity	319,133	0	For
American Century	235,480	0	For
FRANKLIN VALUE INVESTORS TRUST	133,847	0	For
Voya	107,356	0	For
TIAA	0	57,666	Abstain
WisdomTree	0	54,994	Abstain
Equitable	24,961	15,431	For
Invesco	32,487	0	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,075	0	For
State Street	25,324	72	For
Principal	24,611	0	For
Columbia Threadneedle	0	14,200	Abstain
Lincoln Financial	1,859	12,279	Abstain
Northern Trust	0	11,954	Abstain
T. Rowe Price	10,861	0	For
Goldman Sachs	0	8,460	Abstain
First Trust	8,125	0	For
Prudential/PGIM	8,100	0	For
AIG/SunAmerica	7,266	0	For
FORUM FUNDS II	6,496	0	For
Pacific Life	6,207	0	For

Showing the 25 largest of 40 asset managers. See all 40 in the interactive database.

16. To elect each of the following three (3) persons as Class B directors for a term of three (3) years, each to serve until their successors have been duly elected and qualified: David G. Kruczlnicki

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-06-05.

Combines 3 wordings of this item as funds reported it.

88% Majority: yes · of votes cast

FOR 88%12%

FOR: 6,716,368WITHHELD: 929,542

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: David G. Kruczlnicki”): 6,716,368 for, 929,542 withheld, per its Form 8-K filed 2024-06-06 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 16,742,921 outstanding shares: 40% for, 6% withheld (45.7% of the company cast a for/withheld vote).

The 14 asset managers below cast 100% of the shares they voted on this item FOR (233,613 for, 0 against).

FOR 99.9%

FOR: 233,613 (100.0%)ABSTAIN: 52 (0.0%)

Largest asset managers voting on “To elect each of the following three (3) persons as Class B directors for a term of three (3) years, each to s” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Abstain	Vote
Charles Schwab	130,439	0	For
JOHNSON MUTUAL FUNDS TRUST	35,597	0	For
EA Series Trust	26,885	0	For
John Hancock	6,856	0	For
Global X	6,673	0	For
Jackson National	6,500	0	For
Bridge Builder Trust	5,947	0	For
NORTHERN LIGHTS FUND TRUST II	4,105	0	For
SEI	3,349	0	For
Allianz	2,955	0	For
RBC FUNDS TRUST	2,800	0	For
TRUST FOR PROFESSIONAL MANAGERS	1,187	0	For
WILSHIRE MUTUAL FUNDS INC	320	0	For
Advisors' Inner Circle Fund III	0	52	Abstain

17. TO APPROVE, ON AN ADVISORY BASIS, A RESOLUTION RELATING TO THE 2022 COMPENSATION FOR OUR NAMED EXECUTIVE OFFICERS (I.E., THE SAY-ON-PAY&QUOT VOTE). &QUOT

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2023-10-25.

90% Majority: yes · of votes cast

FOR 90%10%

FOR: 8,020,726AGAINST: 862,312

The 2 asset managers below cast 100% of the shares they voted on this item FOR (80 for, 0 against).

FOR 100%

FOR: 80 (100.0%)

Largest asset managers voting on “TO APPROVE, ON AN ADVISORY BASIS, A RESOLUTION RELATING TO THE 2022 COMPENSATION FOR OUR NAMED EXECUTIVE OFFIC” at ARROW FINANCIAL CORP., 2023-2024
Asset manager	For	Against	Abstain	Withheld	Vote
Advisors' Inner Circle Fund III	40	0	0	0	For
L2 Asset Management, LLC	40	0	0	0	For

Largest ARROW FINANCIAL CORP. shareholders voting in 2023-2024

Ranked by the number of ARROW FINANCIAL CORP. shares each manager voted on the most widely held ballot item of the 2023-2024 meeting, shown as a share of the 16,742,921 shares outstanding at the time of that meeting.

Top ARROW FINANCIAL CORP. shareholders by shares voted, 2023-2024
#	Asset manager	% of shares outstanding
1	BlackRock	6.11%
2	Vanguard	4.76%
3	Dimensional	3.76%
4	American Century	2.82%
5	GEODE CAPITAL MANAGEMENT, LLC	2.04%
6	Fidelity	1.91%
7	Charles Schwab	1.56%
8	Voya	1.53%
9	Renaissance	1.41%
10	Northern Trust	0.81%

Reported ARROW FINANCIAL CORP. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

ARROW FINANCIAL CORP. beneficial owners on record for the 2023-2024 proxy season
Holder	% outstanding	Disclosure
BlackRock	7.57%	13F
Vanguard Group	5.31%	13F
Dimensional Fund Advisors	4.00%	13F
State Street	2.25%	13F
Geode Capital	2.04%	13F
Renaissance Technologies	1.61%	13F
Morgan Stanley	1.19%	13F
Northern Trust	0.87%	13F
Franklin Templeton	0.81%	13F
Charles Schwab	0.78%	13F

Percentages above are of 16,742,921 shares outstanding, as reported by ARROW FINANCIAL CORP. on its Form 10-K dated 2024-12-31 (see the filing on EDGAR). This is the count contemporaneous with the 2023-2024 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from ARROW FINANCIAL CORP.’s 10-K dated 2024-12-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At ARROW FINANCIAL CORP.'s 2 shareholder meetings in the 2023-2024 proxy season (held 2023-10-25 and 2024-06-05), 168 asset managers reported how they voted in their SEC Form N-PX filings, covering 2,520 separate fund positions. Their filings are grouped here into 17 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. ARROW FINANCIAL CORP.'s own Form 8-K tally for this meeting is published below, but no row in it could be matched to the most widely held item, so this page states no certified outcome for that item. On that item — To approve, on an advisory basis, a resolution relating to the 2023 executive compensation… — the reporting funds cast 91% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

ARROW FINANCIAL CORP. proxy season coverage: 2023-2024 (this page) · 2024-2025 · 2025-2026.