ARROW FINANCIAL CORP — Director's Dealing 2013

Sep 10, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2013-09-09

Reporting Person: DeMarco David S. (SVP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-09-09	Common Stock	S	390	$26	Disposed	16446	Direct

Footnotes

F1: The information provided also reflects 10 shares acquired under the Company's ESPP since the last Form 4 was filed for the insider on September 6, 2013. This transaction was not required to be reported on a Form 4 and this information is being furnished to disclose the holdings of the insider as of the date of this Form 4.