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ARROW FINANCIAL CORP Director's Dealing 2018

Oct 15, 2018

32888_dirs_2018-10-15_2a6fe91b-8eed-42aa-b649-6796050d6831.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: 2018-10-09

Reporting Person: O'Conor Raymond F (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-10-09	Common Stock	G	600	—	Disposed	45267	Direct
2018-10-15	Common Stock	S	500	$34.58	Disposed	44767	Direct

Footnotes

F1: The information provided reflects 1,336 shares acquired via a stock dividend since September 14, 2018 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: Open market sale pursuant to a 10B5-1 Plan which was established by Reporting Person on November 1, 2017 in accordance with Rule 10B5-1 of the Securities Exchange Act of 1934, as amended.