ARBOR REALTY TRUST INC — Director's Dealing 2021

May 27, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARBOR REALTY TRUST INC (ABR)
CIK: 0001253986
Period of Report: 2021-05-25

Reporting Person: ARBOR COMMERCIAL MORTGAGE LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-25	Special Voting Preferred Stock, par value $0.01 per share	J	18400	—	Disposed	10692668	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-25	Partnership Common Units	$	J	18400	Disposed		Common Stock, par value $0.01 per share (18400)	Direct

Footnotes

F1: On May 25, 2021, Arbor Commercial Mortgage, LLC ("ACM") distributed 18,400 Partnership Common Units and Special Voting Preferred Stock with a fair value of approximately $321.1 thousand to one of its members in consideration for the liquidation of their membership interest in ACM. The fair market value was determined in accordance with ACM's Operating Agreement, using the average closing stock price of the Company from May 20, 2021 through May 24, 2021 of $17.45 per share.

F2: Not applicable.