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ARROW FINANCIAL CORP Director's Dealing 2018

Sep 15, 2018

32888_dirs_2018-09-14_c2799ddc-db2d-48c2-91bd-7a7772326a32.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: 2018-09-14

Reporting Person: KRUCZLNICKI DAVID G (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2018-09-14 Common Stock M 1133 $21.53 Acquired 34389 Direct
2018-09-14 Common Stock F 629 $38.80 Disposed 33760 Direct
2018-09-14 Common Stock M 1147 $22.14 Acquired 34907 Direct
2018-09-14 Common Stock F 654 $38.80 Disposed 34253 Direct
2018-09-14 Common Stock M 1126 $21.56 Acquired 35379 Direct
2018-09-14 Common Stock F 626 $38.80 Disposed 34753 Direct
2018-09-14 Common Stock M 1103 $22.65 Acquired 35856 Direct
2018-09-14 Common Stock F 644 $38.80 Disposed 35212 Direct
2018-09-14 Common Stock M 812 $23.89 Acquired 36024 Direct
2018-09-14 Common Stock F 500 $38.80 Disposed 35524 Direct
2018-09-14 Common Stock M 530 $24.37 Acquired 36054 Direct
2018-09-14 Common Stock F 333 $38.80 Disposed 35721 Direct
2018-09-14 Common Stock M 257 $36.12 Acquired 35978 Direct
2018-09-14 Common Stock F 239 $38.80 Disposed 35739 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2018-09-14 Director Stock Option (Right to Buy) $21.53 M 1133 Disposed 2021-01-26 Common Stock (1133.0) Direct
2018-09-14 Director Stock Option (Right to Buy) $22.14 M 1147 Disposed 2022-01-25 Common Stock (1147.0) Direct
2018-09-14 Director Stock Option (Right to Buy) $21.56 M 1126 Disposed 2023-01-31 Common Stock (1126.0) Direct
2018-09-14 Director Stock Option (Right to Buy) $22.65 M 1103 Disposed 2024-01-29 Common Stock (1103.0) Direct
2018-09-14 Director Stock Option (Right to Buy) $23.89 M 812 Disposed 2025-01-28 Common Stock (812.0) Direct
2018-09-14 Director Stock Option (Right to Buy) $24.37 M 530 Disposed 2026-01-27 Common Stock (530.0) Direct
2018-09-14 Director Stock Option (Right to Buy) $36.12 M 257 Disposed 2027-01-25 Common Stock (257.0) Direct

Footnotes

F1: The information provided reflects 230 shares acquired under the Company's DRIP since May 30, 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: The options vested in four equal installments beginning January 26, 2012

F3: The options vested in four equal installments beginning January 25, 2013

F4: The options vested in four equal installments beginning January 31, 2014

F5: The options vest in four equal installments beginning January 29, 2015

F6: The options vest in four equal installments beginning January 28, 2016

F7: The options vest in four equal installments beginning January 27, 2017

F8: The options vest in four equal installments beginning January 25, 2018