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ARROW FINANCIAL CORP Director's Dealing 2017

Nov 21, 2017

32888_dirs_2017-11-21_421c7de4-0f32-41ee-96a8-d5f511f414a3.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: 2017-10-26

Reporting Person: HOY THOMAS L (Director, Chairman)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2017-10-26 Common Stock G 864 Disposed 174633 Direct
2017-10-27 Common Stock G 282 Disposed 174915 Direct
2017-11-17 Common Stock S 1300 $35.16 Disposed 173615 Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 5511 Indirect
Common Stock 2768 Indirect

Footnotes

F1: The information provided reflects 5127 shares acquired via a stock dividend since June 09, 2017 which were not required to be reported on a Form 4. This information is being furnished todisclose the total holdings of the insider as of the date of this Form 4.

F2: The information provided reflects 160 shares acquired via a stock dividend since June 09, 2017 which were not required to be reported on a Form 4. This information is being furnished todisclose the total holdings of the insider as of the date of this Form 4.

F3: The information provided reflects 80 shares acquired via a stock dividend since June 09, 2017 which were not required to be reported on a Form 4. This information is being furnished todisclose the total holdings of the insider as of the date of this Form 4.