ARROW FINANCIAL CORP (AROW) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Low Risk
Limited dilution potential
Last updated: November 06, 2025

Risk Assessment Details

Potential Dilution: 3.78% of current shares
Recent Dilution: 0.2% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
16M
Potential Supply
620K
Additional shares possible
Splits
None
Past 2 years

Summary

AROW currently has 16.4M outstanding shares. with limited dilution risk as only 620K additional shares (3.8%) are authorized for issuance. The company has minimally diluted shareholders by 0.2% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Nov 06, 2025

10-Q filing | 16.4M shares outstanding

16M 620K
Aug 08, 2025

10-Q filing | 16.5M shares outstanding

17M 480K
May 09, 2025

10-Q filing | 16.7M shares outstanding

17M 350K
Mar 14, 2025

10-K filing | 16.7M shares outstanding

17M 290K
Nov 07, 2024

10-Q filing | 16.7M shares outstanding

17M 280K
Aug 08, 2024

10-Q filing | 16.7M shares outstanding

17M 320K
May 10, 2024

10-Q filing | 16.9M shares outstanding

17M 160K
Mar 11, 2024

10-K filing | 17.0M shares outstanding

17M 0
Dec 04, 2023

8-K filing: Arrow Financial Corporation sold 27,771 shares of Visa Class B common shares for a pre-tax gain of approximately $9.3 million and also sold approximately $100 million of lower-yielding securities, resulting in an approximate pre-tax loss of $9.2 million.

17M 0
Nov 09, 2023

10-Q filing | 17.1M shares outstanding

17M 0
Aug 08, 2023

10-Q filing | 16.6M shares outstanding

17M 470K
Jul 27, 2023

10-Q filing | 16.6M shares outstanding

17M 470K
Jul 18, 2023

10-K filing | 16.6M shares outstanding

17M 460K
Nov 07, 2022

10-Q filing | 16.5M shares outstanding

17M 510K
Sep 23, 2022
Stock Split

8-K filing: Stock split | Outstanding: 16,014,000 → 16,494,420

16M 530K
Aug 05, 2022

10-Q filing | 16.0M shares outstanding

16M 520K
May 06, 2022

10-Q filing | 16.0M shares outstanding

16M 500K
Mar 24, 2022

S-3 filing: This is an S-3 filing for the registration of common stock under the Arrow Financial Corporation Automatic Dividend Reinvestment Plan.

16M 510K
Mar 11, 2022

10-K filing | 16.0M shares outstanding

16M 12K
Nov 04, 2021

10-Q filing | 16.0M shares outstanding

16M 2.9K
Sep 24, 2021
Stock Split

8-K filing: Stock split | Outstanding: 15,557,000 → 16,023,710

16M 6.2K
Aug 06, 2021

S-3 filing: This S-3 filing describes the distribution or sale of common stock acquired through the company's dividend reinvestment plan (DRIP) by plan participants, including options for distribution of shares, sale of shares, or transfer to the company's DRIP.

16M 0
Aug 06, 2021

10-Q filing | 15.6M shares outstanding

16M 6K
May 06, 2021

10-Q filing | 15.6M shares outstanding

16M 0
Mar 10, 2021

10-K filing | 15.5M shares outstanding

15M 0
Nov 05, 2020

10-Q filing | 15.5M shares outstanding

15M 0
Sep 25, 2020
Stock Split

8-K filing: Stock split | Outstanding: 14,998,000 → 15,447,940

15M 0
Aug 06, 2020

10-Q filing | 15.0M shares outstanding

15M 0
May 07, 2020

10-Q filing | 15.0M shares outstanding

15M 0
Feb 28, 2020

10-K filing | 14.8M shares outstanding

15M 0
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