ARROW FINANCIAL CORP — Director's Dealing 2016

Nov 17, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2016-11-16

Reporting Person: Clarke Michael B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-16	Common Stock	S	6279	$37.7147	Disposed	700	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14500	Indirect