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ARROW FINANCIAL CORP Director's Dealing 2018

May 16, 2018

32888_dirs_2018-05-16_4b651399-50f0-4384-8580-5d7ab4888f67.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: 2018-05-15

Reporting Person: O'Conor Raymond F (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-15	Common Stock	S	500	$36.15	Disposed	47327	Direct

Footnotes

F1: 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.