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ARROW FINANCIAL CORP Director's Dealing 2018

Sep 13, 2018

32888_dirs_2018-09-13_da532d2c-5d0c-4bfa-b577-de9c2d932ae3.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: 2018-09-12

Reporting Person: REISMAN RICHARD J DMD (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2018-09-12 Common Stock M 1189 $18 Acquired 11894 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2018-09-12 Director Stock Option (Right to Buy) $18.0 M 1189 Disposed 2019-01-21 Common Stock (1189.0) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 682 Indirect

Footnotes

F1: The information provided reflects 129 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 information provided reflects 5 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.

F3: The options vested in four equal installments beginning January 21, 2010.