ARROW FINANCIAL CORP — Director's Dealing 2013

Apr 26, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2013-04-24

Reporting Person: FITZGERALD MARY ELIZABETH T (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-04-24	Common Stock	S	400	$23.74	Disposed	10326	Direct

Footnotes

F1: Following the reported transaction, the information provided reflects 3,503 shares held with a broker; 5,759 shares acquired under the Company's DRIP; and 1,064 shares acquired under the Company's ESPP that includes 11 additional shares acquired since March 4, 2013. None of these transactions were required to be reported on a Form 4 and this information is being furnished to disclose the total holdings of the insider as of the date of this Form 4.