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ARROW FINANCIAL CORP Director's Dealing 2016

Dec 1, 2016

32888_dirs_2016-12-01_73cdc569-2d28-431c-8380-bfe97e26b493.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: 2016-11-30

Reporting Person: MOYNEHAN DAVID L (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2016-11-30 Common Stock J 204 $37.85 Acquired 39016 Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 1507 Indirect

Footnotes

F1: The information provided reflects 661 shares acquired under the Company's DRIP since and 1129 shares acquired via a stock dividend since May 26, 2016 which were not required to be reported on a Form 4. This information is being furnished to disclose the total holdings of the insider as of the date of this Form 4.

F2: The information provided reflects 43 shares acquired via a stock dividend since May 26, 2016 which was not required to be reported on a Form 4. This information is being furnished to disclose the total holdings of the insider as of the date of this Form 4.