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ARROW FINANCIAL CORP Director's Dealing 2015

Jun 1, 2015

32888_dirs_2015-06-01_5b6861a3-5fff-448a-b455-98bb4e3270ea.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2015-04-27

Reporting Person: HOY THOMAS L (Director, Chairman)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2015-04-27 Common Stock G 500 Disposed 167985 Direct
2015-05-28 Common Stock J 293 $26.40 Acquired 168278 Direct
2015-05-28 Common Stock J 0 Acquired 5095 Indirect
2015-05-28 Common Stock J 0 Acquired 2559 Indirect
2015-05-28 Common Stock J 0 Acquired 3480 Indirect

Footnotes

F1: Semi-annual Director's Retainer Payment. Shares acquired by the Administrator of the Directors' Stock Plan.

F2: Following the reported transactions, total direct holdings include: 1 share held in DRIP and ESPP accounts; 69,144 shares held in a qualified retirement plans (IRA); 96,024 shares held in a custody account; and 2,816 shares acquired under a 401k account. 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.

F3: Amount of securities beneficially owned following reported transaction.