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ARROW FINANCIAL CORP. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings and ARROW FINANCIAL CORP.’s Form 8-K, filed 2025-06-04 (Item 5.07 on EDGAR). Page generated 04 October 2026.

12Reported items
156Asset managers
1,390Fund votes
2025-06-04Meeting date

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

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

Official 2024-2025 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 2025-06-04 (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. — official shareholder meeting results, meeting held 2025-06-04
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Tenée R. Casaccio	9,211,046	--	--	551,725	3,083,667	Majority: yes
Elect Director: James M. Dawsey	9,207,144	--	--	555,627	3,083,667	Majority: yes
Elect Director: Philip C. Morris	9,420,659	--	--	342,112	3,083,667	Majority: yes
Elect Director: Colin L. Read, Ph.D.	8,881,824	--	--	880,947	3,083,667	Majority: yes
Elect Director: Daniel J. White	9,465,581	--	--	297,190	3,083,667	Majority: yes
Elect Director: Kristine D. Duffy, Ed.D.	9,384,378	--	--	378,393	3,083,667	Majority: yes
Elect Director: Executive Compensation	8,866,974	679,350	216,447	--	3,083,667	Majority: yes
Elect Director: Crowe LLP	12,399,085	396,130	51,223	--	--	Majority: yes

Source: ARROW FINANCIAL CORP., Form 8-K, filed with the SEC on 2025-06-04 — read the filing on EDGAR.

How asset managers voted at the ARROW FINANCIAL CORP. 2024-2025 meeting

Each item below shows how the 156 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 2024 executive compensation ("Say-on-Pay").

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

Meeting held 2025-06-04.

Combines 5 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%7%

FOR: 8,866,974AGAINST: 679,350

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Executive Compensation”): 8,866,974 for, 679,350 against, per its Form 8-K filed 2025-06-04 (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: 53.0% for, 4% against (57% of the company cast a for/against vote).

The 148 asset managers below cast 97% of the shares they voted on this item FOR (6,802,629 for, 209,033 against).

FOR 97%

FOR: 6,802,629 (97.0%)AGAINST: 209,033 (3.0%)

Largest asset managers voting on “To approve, on an advisory basis, a resolution relating to the 2024 executive compensation ("Say-on-Pay").” at ARROW FINANCIAL CORP., 2024-2025
Asset manager	For	Against	Vote
BlackRock	1,262,866	5,158	For
Vanguard	839,682	0	For
American Century	635,019	0	For
Dimensional	525,363	0	For
GEODE CAPITAL MANAGEMENT, LLC	380,556	0	For
State Street	354,444	1,554	For
Fidelity	339,530	0	For
Voya	249,436	0	For
Charles Schwab	248,372	0	For
Renaissance	216,308	0	For
Rhino Investment Partners, Inc	167,953	0	For
Northern Trust	133,709	149	For
ROCKEFELLER FINANCIAL LLC	118,285	0	For
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC	93,030	0	For
Connor, Clark & Lunn Investment Management Ltd.	79,243	0	For
TRUST CO OF VERMONT	76,124	0	For
FRANKLIN MUTUAL ADVISERS LLC	75,432	0	For
FRANKLIN VALUE INVESTORS TRUST	75,415	0	For
PARAMETRIC PORTFOLIO ASSOCIATES LLC	0	68,526	Against
T. Rowe Price	64,678	0	For
JOHNSON INVESTMENT COUNSEL INC	59,102	0	For
Nuveen	58,183	0	For
TIAA	57,666	0	For
MELLON INVESTMENTS Corp	0	56,646	Against
First Trust	55,470	0	For

Showing the 25 largest of 148 asset managers. See all 148 in the interactive database.

2. To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) person as a Class A director for a term of one (1) year, and one (1) person as a Class B director for a term of two (2) years, each to serve until their successors have been duly elected and qualified: Class C: Colin L. Read, Ph.D.

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-04.

Combines 4 wordings of this item as funds reported it.

91% Majority: yes · of votes cast

FOR 91%9%

FOR: 8,881,824WITHHELD: 880,947

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Colin L. Read, Ph.D.”): 8,881,824 for, 880,947 withheld, per its Form 8-K filed 2025-06-04 (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: 53.0% for, 5% withheld (58% of the company cast a for/withheld vote).

The 55 asset managers below cast 100% of the shares they voted on this item FOR (3,246,999 for, 0 against).

FOR 93%

FOR: 3,246,999 (93.0%)ABSTAIN: 243,339 (7.0%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) per” at ARROW FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	825,737	0	For
BlackRock	710,645	0	For
Dimensional	445,188	0	For
Fidelity	338,559	0	For
American Century	314,116	0	For
Charles Schwab	124,117	0	For
Voya	98,522	0	For
FRANKLIN VALUE INVESTORS TRUST	0	75,415	Abstain
TIAA	0	57,666	Abstain
First Trust	55,468	0	For
JOHNSON MUTUAL FUNDS TRUST	54,797	0	For
Equitable	29,643	15,491	For
WisdomTree	0	36,247	Abstain
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,876	0	For
State Street	24,604	2	For
Columbia Threadneedle	0	19,736	Abstain
Invesco	0	19,514	Abstain
Principal	19,200	0	For
Lincoln Financial	13,838	0	For
T. Rowe Price	12,679	0	For
Prudential/PGIM	12,160	0	For
Pacific Life	12,118	0	For
Northern Trust	11,771	0	For
Goldman Sachs	11,590	0	For

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

3. To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) person as a Class A director for a term of one (1) year, and one (1) person as a Class B director for a term of two (2) years, each to serve until their successors have been duly elected and qualified: Class A: Daniel J. White

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-04.

Combines 4 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 9,465,581WITHHELD: 297,190

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Daniel J. White”): 9,465,581 for, 297,190 withheld, per its Form 8-K filed 2025-06-04 (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: 57% for, 2% withheld (58% of the company cast a for/withheld vote).

The 55 asset managers below cast 100% of the shares they voted on this item FOR (3,490,338 for, 0 against).

FOR 100%

FOR: 3,490,338 (100.0%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) per” at ARROW FINANCIAL CORP., 2024-2025
Asset manager	For	Vote
Vanguard	825,737	For
BlackRock	710,645	For
Dimensional	445,188	For
Fidelity	338,559	For
American Century	314,116	For
Charles Schwab	124,117	For
Voya	98,522	For
FRANKLIN VALUE INVESTORS TRUST	75,415	For
TIAA	57,666	For
First Trust	55,468	For
JOHNSON MUTUAL FUNDS TRUST	54,797	For
Equitable	45,134	For
WisdomTree	36,247	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	For
QUANTITATIVE MASTER SERIES LLC	27,876	For
State Street	24,606	For
Columbia Threadneedle	19,736	For
Invesco	19,514	For
Principal	19,200	For
Lincoln Financial	13,838	For
T. Rowe Price	12,679	For
Prudential/PGIM	12,160	For
Pacific Life	12,118	For
Northern Trust	11,771	For
Goldman Sachs	11,590	For

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

4. To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) person as a Class A director for a term of one (1) year, and one (1) person as a Class B director for a term of two (2) years, each to serve until their successors have been duly elected and qualified: Class C: James M. Dawsey

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-04.

Combines 4 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 9,207,144WITHHELD: 555,627

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: James M. Dawsey”): 9,207,144 for, 555,627 withheld, per its Form 8-K filed 2025-06-04 (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: 55.0% for, 3% withheld (58% of the company cast a for/withheld vote).

The 55 asset managers below cast 100% of the shares they voted on this item FOR (3,461,820 for, 0 against).

FOR 99.1%

FOR: 3,461,820 (99.2%)ABSTAIN: 28,518 (0.8%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) per” at ARROW FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	825,737	0	For
BlackRock	710,645	0	For
Dimensional	445,188	0	For
Fidelity	338,559	0	For
American Century	314,116	0	For
Charles Schwab	124,117	0	For
Voya	98,522	0	For
FRANKLIN VALUE INVESTORS TRUST	75,415	0	For
TIAA	57,666	0	For
First Trust	55,468	0	For
JOHNSON MUTUAL FUNDS TRUST	54,797	0	For
Equitable	29,643	15,491	For
WisdomTree	36,247	0	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,876	0	For
State Street	24,604	2	For
Columbia Threadneedle	19,736	0	For
Invesco	19,514	0	For
Principal	19,200	0	For
Lincoln Financial	1,859	11,979	Abstain
T. Rowe Price	12,679	0	For
Prudential/PGIM	12,160	0	For
Pacific Life	12,118	0	For
Northern Trust	11,771	0	For
Goldman Sachs	11,590	0	For

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

5. To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) person as a Class A director for a term of one (1) year, and one (1) person as a Class B director for a term of two (2) years, each to serve until their successors have been duly elected and qualified: Class B: Kristine D. Duffy, Ed.D.

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-04.

Combines 4 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 9,384,378WITHHELD: 378,393

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Kristine D. Duffy, Ed.D.”): 9,384,378 for, 378,393 withheld, per its Form 8-K filed 2025-06-04 (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: 56% for, 2% withheld (58% of the company cast a for/withheld vote).

The 55 asset managers below cast 100% of the shares they voted on this item FOR (3,474,847 for, 0 against).

FOR 99.5%

FOR: 3,474,847 (99.6%)ABSTAIN: 15,491 (0.4%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) per” at ARROW FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	825,737	0	For
BlackRock	710,645	0	For
Dimensional	445,188	0	For
Fidelity	338,559	0	For
American Century	314,116	0	For
Charles Schwab	124,117	0	For
Voya	98,522	0	For
FRANKLIN VALUE INVESTORS TRUST	75,415	0	For
TIAA	57,666	0	For
First Trust	55,468	0	For
JOHNSON MUTUAL FUNDS TRUST	54,797	0	For
Equitable	29,643	15,491	For
WisdomTree	36,247	0	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,876	0	For
State Street	24,606	0	For
Columbia Threadneedle	19,736	0	For
Invesco	19,514	0	For
Principal	19,200	0	For
Lincoln Financial	13,838	0	For
T. Rowe Price	12,679	0	For
Prudential/PGIM	12,160	0	For
Pacific Life	12,118	0	For
Northern Trust	11,771	0	For
Goldman Sachs	11,590	0	For

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

6. To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) person as a Class A director for a term of one (1) year, and one (1) person as a Class B director for a term of two (2) years, each to serve until their successors have been duly elected and qualified: Class C: Philip C. Morris

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-04.

Combines 4 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 9,420,659WITHHELD: 342,112

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Philip C. Morris”): 9,420,659 for, 342,112 withheld, per its Form 8-K filed 2025-06-04 (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: 56% for, 2% withheld (58% of the company cast a for/withheld vote).

The 55 asset managers below cast 100% of the shares they voted on this item FOR (3,474,847 for, 0 against).

FOR 99.5%

FOR: 3,474,847 (99.6%)ABSTAIN: 15,491 (0.4%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) per” at ARROW FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	825,737	0	For
BlackRock	710,645	0	For
Dimensional	445,188	0	For
Fidelity	338,559	0	For
American Century	314,116	0	For
Charles Schwab	124,117	0	For
Voya	98,522	0	For
FRANKLIN VALUE INVESTORS TRUST	75,415	0	For
TIAA	57,666	0	For
First Trust	55,468	0	For
JOHNSON MUTUAL FUNDS TRUST	54,797	0	For
Equitable	29,643	15,491	For
WisdomTree	36,247	0	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,876	0	For
State Street	24,606	0	For
Columbia Threadneedle	19,736	0	For
Invesco	19,514	0	For
Principal	19,200	0	For
Lincoln Financial	13,838	0	For
T. Rowe Price	12,679	0	For
Prudential/PGIM	12,160	0	For
Pacific Life	12,118	0	For
Northern Trust	11,771	0	For
Goldman Sachs	11,590	0	For

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

7. To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) person as a Class A director for a term of one (1) year, and one (1) person as a Class B director for a term of two (2) years, each to serve until their successors have been duly elected and qualified: Class C: Tenee R. Casaccio

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-04.

Combines 8 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 9,211,046WITHHELD: 551,725

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Tenée R. Casaccio”): 9,211,046 for, 551,725 withheld, per its Form 8-K filed 2025-06-04 (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: 55% for, 3% withheld (58% of the company cast a for/withheld vote).

The 55 asset managers below cast 100% of the shares they voted on this item FOR (3,457,298 for, 0 against).

FOR 99.0%

FOR: 3,457,298 (99.1%)ABSTAIN: 33,040 (0.9%)

Largest asset managers voting on “To elect each of the following four (4) persons as Class C directors to a term of three (3) years, one (1) per” at ARROW FINANCIAL CORP., 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	825,737	0	For
BlackRock	710,645	0	For
Dimensional	445,188	0	For
Fidelity	338,559	0	For
American Century	314,116	0	For
Charles Schwab	124,117	0	For
Voya	98,522	0	For
FRANKLIN VALUE INVESTORS TRUST	75,415	0	For
TIAA	57,666	0	For
First Trust	55,468	0	For
JOHNSON MUTUAL FUNDS TRUST	54,797	0	For
Equitable	29,643	15,491	For
WisdomTree	36,247	0	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	0	For
QUANTITATIVE MASTER SERIES LLC	27,876	0	For
State Street	24,604	2	For
Columbia Threadneedle	19,736	0	For
Invesco	19,514	0	For
Principal	19,200	0	For
Lincoln Financial	1,859	11,979	Abstain
T. Rowe Price	12,679	0	For
Prudential/PGIM	12,160	0	For
Pacific Life	12,118	0	For
Northern Trust	11,771	0	For
Goldman Sachs	11,590	0	For

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

8. 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, 2025.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2025-06-04.

Combines 2 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 12,399,085AGAINST: 396,130

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Crowe LLP”): 12,399,085 for, 396,130 against, per its Form 8-K filed 2025-06-04 (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: 74% for, 2% against (76% of the company cast a for/against vote).

The 55 asset managers below cast 100% of the shares they voted on this item FOR (3,490,338 for, 0 against).

FOR 100%

FOR: 3,490,338 (100.0%)

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., 2024-2025
Asset manager	For	Vote
Vanguard	825,737	For
BlackRock	710,645	For
Dimensional	445,188	For
Fidelity	338,559	For
American Century	314,116	For
Charles Schwab	124,117	For
Voya	98,522	For
FRANKLIN VALUE INVESTORS TRUST	75,415	For
TIAA	57,666	For
First Trust	55,468	For
JOHNSON MUTUAL FUNDS TRUST	54,797	For
Equitable	45,134	For
WisdomTree	36,247	For
HOTCHKIS & WILEY FUNDS /DE/	30,200	For
QUANTITATIVE MASTER SERIES LLC	27,876	For
State Street	24,606	For
Columbia Threadneedle	19,736	For
Invesco	19,514	For
Principal	19,200	For
Lincoln Financial	13,838	For
T. Rowe Price	12,679	For
Prudential/PGIM	12,160	For
Pacific Life	12,118	For
Northern Trust	11,771	For
Goldman Sachs	11,590	For

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

9. Advisory Vote to Ratify Named Executive Officers' Compensation

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

Meeting held 2025-06-04.

93% Majority: yes · of votes cast

FOR 93%7%

FOR: 8,866,974AGAINST: 679,350

The 2 asset managers below cast 100% of the shares they voted on this item FOR (10,178 for, 0 against).

FOR 100%

FOR: 10,178 (100.0%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at ARROW FINANCIAL CORP., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Empower	5,800	0	0	0	For
GuideStone	4,378	0	0	0	For

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

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

Meeting held 2024-06-05 (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

89% Majority: yes · of votes cast

FOR 89%11%

FOR: 6,700,808AGAINST: 803,672

ARROW FINANCIAL CORP.’s own tally for this item (“Elect Director: Executive Compensation”): 6,700,808 for, 803,672 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: 40% for, 5% against (45% of the company cast a for/against vote).

The 2 asset managers below cast 3% of the shares they voted on this item FOR (70 for, 2,663 against).

AGAINST 97%

FOR: 70 (2.6%)AGAINST: 2,663 (97.4%)

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., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
COLDSTREAM CAPITAL MANAGEMENT INC	0	2,663	0	0	Against
VAUGHAN DAVID INVESTMENTS LLC/IL	70	0	0	0	For

11. 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 (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

— fund support · no official result

1 YEAR 100%

No shares were cast for or against this item by the managers below — every disclosed position was an abstention or was not voted.

1 YEAR: 1,173 (100.0%)

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., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
COLDSTREAM CAPITAL MANAGEMENT INC	0	0	0	0	1 Year
VAUGHAN DAVID INVESTMENTS LLC/IL	0	0	0	0	1 Year

12. 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 (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

Combines 2 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 2 asset managers below cast 7% of the shares they voted on this item FOR (80 for, 1,093 against).

AGAINST 93%

FOR: 80 (6.8%)AGAINST: 1,093 (93.2%)

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., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
COLDSTREAM CAPITAL MANAGEMENT INC	0	1,093	0	0	Against
VAUGHAN DAVID INVESTMENTS LLC/IL	80	0	0	0	For

Largest ARROW FINANCIAL CORP. shareholders voting in 2024-2025

Ranked by the number of ARROW FINANCIAL CORP. shares each manager voted on the most widely held ballot item of the 2024-2025 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, 2024-2025
#	Asset manager	% of shares outstanding
1	BlackRock	7.57%
2	Vanguard	5.02%
3	American Century	3.79%
4	Dimensional	3.14%
5	GEODE CAPITAL MANAGEMENT, LLC	2.27%
6	State Street	2.13%
7	Fidelity	2.03%
8	Voya	1.49%
9	Charles Schwab	1.48%
10	Renaissance	1.29%

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 2024-2025 proxy season
Holder	% outstanding	Disclosure
BlackRock	8.01%	13F
Vanguard Group	4.98%	13F
Dimensional Fund Advisors	4.44%	13F
State Street	2.30%	13F
Geode Capital	2.27%	13F
Renaissance Technologies	1.38%	13F
Morgan Stanley	1.26%	13F
Northern Trust	0.86%	13F
Charles Schwab	0.74%	13F
BNY Mellon	0.51%	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 2024-2025 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 04 October 2026; a live search always shows the current data.

At ARROW FINANCIAL CORP.'s shareholder meeting held 2025-06-04, in the 2024-2025 proxy season, 156 asset managers reported how they voted in their SEC Form N-PX filings, covering 1,390 separate fund positions. Their filings are grouped here into 12 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — To approve, on an advisory basis, a resolution relating to the 2024 executive compensation… — FOR was 93% of the votes cast (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), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: ARROW FINANCIAL CORP.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on 2025-06-04.

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