This is the basic pictograph of the upper torso and arms, with the arms modified to resemble oars. It is the verb to row.
Illustrative Text Reference:
Mohenjo-daro: Seal: M-1186 a: Sayid Ghulam Mustafa Shah and Asko Parpola, 1991: Corpus of Indus Seals and Inscriptions: Volume 2: Page 139: Collections in Pakistan: Suomalainen Tiedeakatemia.
Image Credit:
Indus Script Sign Number 2420: List of Sign Variants: Iravatham Mahadevan, 1977: The Indus Script: Texts, Concordance and Tables: The Director General Archaeological Survey of India.