ARROW FINANCIAL CORP — Director's Dealing 2016

Jun 8, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARROW FINANCIAL CORP (AROW)
CIK: 0000717538
Period of Report: 2016-06-06

Reporting Person: HOY THOMAS L (Director, Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-06-06	Common Stock	S	1000	$28.8391	Disposed	168862	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5196	Indirect
Common Stock	2610	Indirect
Common Stock	3549	Indirect