ARROW FINANCIAL CORP — Director's Dealing 2011

Aug 9, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2011-08-08

Reporting Person: CARUSONE JOHN J JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-08	Common Stock	S	743	$23.24	Disposed	7036	Direct

Footnotes

F1: Amount of securities beneficially owned following reported transaction.