ARBOR REALTY TRUST INC — Director's Dealing 2018

Aug 31, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARBOR REALTY TRUST INC (ABR)
CIK: 0001253986
Period of Report: 2018-08-29

Reporting Person: MARTELLO JOSEPH (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-08-29	Special Voting Preferred Stock, par value $0.01 per share	J	366393	—	Acquired	448415	Indirect
2018-08-29	Special Voting Preferred Stock, par value $0.01 per share	D	366393	—	Disposed	82022	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-08-29	Partnership Common Units	$	J	366393	Acquired		Common Stock, par value $0.01 per share (366393)	Indirect
2018-08-29	Partnership Common Units	$	D	366393	Disposed		Common Stock, par value $0.01 per share (366393)	Indirect

Footnotes

F1: On July 14, 2016, Arbor Realty Limited Partnership, a Delaware limited partnership, issued Partnership Common Units ("OP Units") to Arbor Commercial Mortgage, LLC ("ACM") and, therefore, Arbor Realty Trust, Inc. (the "Company") issued Special Voting Preferred Stock ("Preferred Shares") to ACM. On August 29, 2018, ACM distributed 366,393 OP Units and Preferred Shares with a fair market value of approximately $4.3 million to the reporting person for his respective membership interest. The fair market value was determined using the average closing stock price of the Company from August 16, 2018 through August 29, 2018 of $11.86. In addition, the Company redeemed such distributed shares from the reporting person for cash totaling approximately $4.3 million, which was based on the same $11.86 fair market value described above.

F2: Not applicable.